Vietnam got more than 6.5 billion USD of deficit in trade exchange with ChinaThursday, March 16,2023
AsemconnectVietnam - According to the latest preliminary statistics figures of the General Department of Customs, Vietnam’s exports of goods to China in February of this year reached 3.55 billion USD, down by 9.6% over the same period last year.
Notably, this was the second consecutive month that the country’s exports to this neighboring country have declined. China is the second largest export market of Vietnam (after the United States), so the export decline had a significant impact on our economy.
Generally in the first two months of the year, the country’s total export turnover to China reached 7.4 billion USD, down by 5.7% over the same period of 2022. Of which, there were 2 groups of goods with a turnover of 1 billion USD or more, including computers, electronic products and components reached 1.06 billion USD; phones and components reached 2.57 billion USD.
On the other hand, the country’s imports of goods from China in the first two months of the year reached 13.93 billion USD.
The 3 groups of goods with the largest turnover of 1 billion USD or more include phones and components with 1.14 billion USD; machinery, equipment, tools and spare parts with 2.65 billion USD; computers, electronic products and components reached with more than 3 billion USD.
In the first two months of the year, Vietnam had a trade deficit of 6.53 billion USD from China.
From the beginning of 2023, China restored import-export and entry-exit activities on the entire border with Vietnam, however, the trade activities have not really broken through as expected.
Source: VITIC/ haiquanonline.com.vn
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