8:53:49 AM | 20/10/2008
Vietnam reportedly spent US$11.14 billion on importing goods from its neighbor of China in the first eight months of this year, up 51.5 per cent on-year, the Ministry of Industry and Trade’s website said.
In August, the country’s total imports from China stood at US$1.11 billion, down 12 per cent on-month but up 7.7 per cent on-year, reported the website.
Most of imports saw sharp on-month decreases, noted the website without giving out exact comparisons.
Vietnam mainly imports steel, machines, fertilizers, cloth and petroleum products from its neighbor and exports crude oil, coal, computers, electronics and spare parts, cashew nut, seafood, and vegetable and fruit.
Vietnam always incurs trade deficit with China, which reached US$2.81 billion in 2005 and US$3.8 billion in 2006.
In 2007, the two-way trade posted at US$15.8 billion, surpassing far from the target of US$15 billion by 2010. (Vinanet)
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