Vietnam’s trade deficit with China widens to $31 billion, bilateral trade exceeds $100 billion

In the first 11 months of 2019, Vietnam – China bilateral trade reached $105.75 billion, much higher than a year earlier.

During Jan.-Nov. period, the country imported $ 68.5 billion from China, up nearly $9 billion over the same period last year. So far, Vietnam has trade deficit of more than $31 billion from this market, expanding from $22 billion deficit of eleven months in 2018.

The above data shows that China is still Vietnam's largest trading partner. The second largest partner is the US, with a bilateral trade revenue of nearly $69 billion.

In November, total import-export revenue between the two economies reached $10 billion. Vietnam exported $4.2 billion and imported $6,6 billion. The country had a trade deficit of more than $2 billion with China.

There were 11 groups of Vietnam's exports to China with turnover from $1 billion. Two largest commodity groups are computers, electronic products and components; phones and components.

Other exported products worth billions of dollars were vegetables, seafood, cameras, camcorders and components, fiber…

In Vietnam's trade history, China was the first trading partner having $100 billion turnover. In 2018, total trade of the two countries reached $106,706 billion, an increase of $12.71 billion compared to 2017.

Source: Customs