Exports to China sharply increase thanks to controlled COVID-19
Wednesday, 20/05/2020 18:37 (GMT+7)
In the first 4 months of this year, the export turnover between Vietnam and China reached over USD35 billion, including Vietnam’s export of USD12.7 billion, a year-on-year increase of 22.1%, the General Department of Vietnam Customs has reported.
Re-opening of border gates and openings help increase Vietnam - China two-way trade turnover. (Photo: congthuong.vn)
China ranked 2nd in Vietnam’s export market with a 15.7% share, after the US with 24.9%.
Meanwhile, import from China reached USD22.38 billion, a year-on-year reduction of 1.6%; however, it remained the largest import market of Vietnam with 28.7% of share.
After 4 months, the trade deficit with China decreased to USD9.68 billion compared to more than USD12 billion in the first 4 months of 2019.
According to the Ministry of Industry and Trade, as COVID-19 has been controlled in China, its demand for goods is expected to increase in the near future.
To tackle businesses’ difficulties in resuming import-export and trade exchange through Vietnam – China border areas, the Prime Minister has agreed to re-open different border gates, including Binh Nghi, Na Hinh, Na Nua, Po Nhung in Lang Son province; and Bac Phong Sinh and Ka Long opening in Quang Ninh./.
Compiled by BTA
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