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 VIETNAM 91.32% of Vietnam Trade Gap Results from China in Jan-May

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1alaskan
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PostSubject: VIETNAM 91.32% of Vietnam Trade Gap Results from China in Jan-May   Thu Jun 21, 2012 4:22 pm

91.32% of Vietnam Trade Gap Results from China in Jan-May

China has remained Vietnams largest trading partner for years but the latter has incurred an annual huge trade deficit with the former during the period with the peak of $11.5 billion in 2009, representing 93.9% of Vietnams total.

Vietnams trade deficit with China made up 91.32% of the countrys sum at $5.53 billion in the first five months of this year, according to the General Department of Customs.

The Southeast Asian nations huge spending on machinery and equipment imports from its neighbor and its low earnings from raw materials exports have been mainly attributed to the situation, local experts said.

Rubber, coal, cassava products and crude oil were Vietnams export staples to China while machinery and equipment, cloth and petroleum products were its main imports.

Vietnam and China are trying to raise the bilateral trade to $25 billion this year from $21.35 billion in 2009.

http://www.evietnambusiness.com/import-export/news/1469-9132-of-vietnam-trade-gap-results-from-china-in-jan-may.html

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