Vietnam Jan-May Imports from China Down 25.8 per cent to US$5.51B

Vietnam imported US$5.51 billion worth of goods from China in the first five months this year, dropping 25.8 per cent from a year ago, according to the Ministry of Industry and Trade (MOIT).

 

In May, Vietnam purchased US$1.35 billion of goods from the neighboring country, up 9.6 per cent from April, the MOIT noted.

 

Between January and May, imports of machines, equipment and spare parts topped the list with US$1.462 billion, down 0.8 per cent on-year, followed by cloth with US$580.394 million, down 4.6 per cent, computer, electric products and spare parts with US$472.964 million, up 73.8 per cent, petroleum products with US$386.069 million, up 110.7 per cent, fertilizer with US$199.111 million, down 62.9 per cent, and iron and steel with US$170.479 million, down 89.2 per cent.

 

Vietnam incurred a trade deficit of US$5 billion in the first half this year.

 

Trade between Vietnam and China is expected to hit US$25 billion by 2010. (Vinanet)