Trade deficit with China climbs to $39 billion

By Anh Minh September 17, 2021 | 07:41 pm PT

Container trucks carrying dragon fruits at a parking zone near the Tan Thanh Border Gate in the northern province of Lang Son, February 4, 2020. Photo by VnExpress/Giang Huy

Vietnam’s trade deficit with China in the first eight months of the year was $39 billion, or $3.8 billion more than in the whole of 2020.

Vietnam's exports to the country rose by 22 percent to $33.5 billion, 16 percent of its total exports, according to the General Department of Customs.

They were driven by 65 percent and 46 percent surges in cellphone and component exports.

China remained Vietnam’s largest source of imports, mainly machinery and equipment, phones and components and raw materials for the textile industry, which grew by 47 percent to $72.5 billion.

Last year, Vietnam was China's sixth largest trading partner and its fifth largest export market.