Vietnam-China trade down in January

The combined value of exports and imports was $8.29 billion, down 26 percent from December, according to a report by Vietnam Customs, which said that there were only 16 working days in January. Tet fell in February last year.

Vietnam’s exports to China fell by 35.3 percent from December to $2.75 billion and imports by 20.1 percent to $5.54 billion.

Vietnam’s main export items in January were agricultural products, crude oil and ores, while its imports were gas, computers, electronics and cars.

Last year, China was Vietnam’s biggest import market, accounting for 29.8 percent of its shipments. Overall, Vietnam recorded a trade deficit of $232 million in January as against a surplus last year.

Vietnam’s foreign trade for the first time reached $517 billion last year, with trade surplus a record-high of $9.9 billion.