90% Vietnam trade deficit comes from China

As many as 90% of Vietnam trade deficit comes from the trade gap with China, Tran Dinh Thien, head of Vietnam Institute of Economics said.

As many as 90% of Vietnam trade deficit comes from the trade gap with China, Tran Dinh Thien, head of Vietnam Institute of Economics, said at the conference on the world economic recovery and adaption of Vietnam enterprises held by the Business Studies and Assistance Center on August 11 in Hanoi.

Thien also said that Vietnam has consistently suffered trade deficit over the past 10 years, the state-run online newspaper Nguoi Lao Dong reported August 13. However, Thien did not give specific figures.

Thien said Chinese Yuan appreciation would be the good excuses for Vietnam enterprises to boost up exporting resources into this market to take profit, however, in his opinion this is dangerous move.

Thien urges that Vietnam should be prepared to have appropriate policy to the Yuan appreciation as many other countries are doing.

Vietnam’s export turnover reached $38.3 billion and import expenses at $45.7 billion in the first seven months of this year, increasing 17.5% and 25.5% from the last year, respectively, the General Statistics Office reported. – Nguoi lao dong

Tags: Vietnam trade, Vietnam trade deficit 2010