Vietnam’s trade deficit from China tops US$32 billion

Vietnam’s export turnover to China was up 13.7 percent to US$17 billion in 2015 while import hit US$49.3 billion,  posting a trade deficit of US$32.3 billion, reported the Vietnam Chamber of Commerce and Industry.

Total export and import turnover between Vietnam and China reached US$63.3 billion, a year on year increase of nearly 13 percent.

Vietnam mainly exported to China items such as crude oil, coal, computers, accessories, rubber, rice and vegetable and fruits and imported machines and equipment, phones, components, garment materials and steel.

By the end of the year, China has invested in 1,258 projects with a total capital of US$8.6 billion in Vietnam, ranked ninth in over 100 nations and territories investing in the country.

China also led in the number of visitors to Vietnam with 1.78 million people.

By Minh Hai – Translated by Hai Mien

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