National trade deficit with China stands at US$39 billion
VOV.VN - The initial eight months of the year saw the country’s trade deficit with China reach US$39 billion, a figure which is US$3.8 billion more than in the entirety of last year.
During the reviewed period Vietnamese exports to China grew by 22% to reach US$33.5 billion, accounting for 16% of its total exports, according to data released by the General Department of Customs.
This figure also includes 65% and 46% increases in cellphone and component exports, respectively.
China remained the country’s largest source of imports, primarily machinery and equipment, phones and components and raw materials for the textile industry, which surged by 47% to US$72.5 billion.
Last year, the nation was China's sixth largest trading partner and its fifth largest export market.