VietNamNet Bridge – For many years, Vietnam has suffered a huge trade deficit with China and the situation has not changed this year.

In the past 11 months, Vietnam’s export revenue from China reached $13.5 billion but the country spent up to $39.9 billion to import all kinds of goods from the Chinese market.

Vietnam’s trade deficit from this market during this period rose over 22.1% compared to the same period last year, to $26.4 billion.

According to the Statistics Office, in the January-October period, Vietnamese companies paid $403 million to import seafood, and more than $337 million for fruit and vegetables from China, although Vietnam can produce these products. Some Chinese fruits and vegetables were fake, that is, sold as Vietnamese products to reach consumers.

Vietnam spent $798 million to import rice from China, $76.2 million to import coffee and more than $759 million to import cassava, even though Vietnam is a big producer of these products.

For confectionery, though China is no longer the leading importer to Vietnam,candy and cereal products from China accounted for $33.5 million.

However, the top products imported from China were raw materials used to produce staple exports of Vietnam such as textiles, computers and computer components, fiber, etc, with over $1 billion of fibers, over $387 million of garment-textiles, $426 million of footwear and $95 million of materials for textiles and footwear production.

Similarly, Vietnam also paid more than $1.7 billion to import computers, electronic products and electronic components from China. The payment for telephone and telephone components was $368 million. This is understandable as the auxiliary industry of Vietnam is far less developed than other countries, while tech giants like Samsung and LG are expanding production in Vietnam.

According to economic experts, a large amount of foreign currencies were also spent to import Chinese goods via the border, including smuggled goods. In 2012, Vietnam announced that it would pay $28.8 billion for Chinese goods but the Chinese announced a figure of $34 billion.

Na Son