Vietnam's trade deficit with China surges 30.2 percent in Jan-July

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A man carries packages of Chinese fruits at a market in Ho Chi Minh City. Photo: B.Hoan
Vietnam's trade deficit with China saw a year-on-year increase of 30.2 percent in the first seven months, hitting US$19.4 billion, local media reported, citing a report by the Vietnam Customs as saying on Monday.
The country imported nearly $28.4 billion worth of goods from its neighboring country, up 20 percent compared to the same period last year. Products from China accounted for 30 percent of Vietnam's imports. 
Garment, footwear and electronics were among the major imported products between January and Juky, as usual. More than 18,000 Chinese vehicles, mostly trucks, were sold to Vietnam during the period, a three-fold increase year-on-year. 
Vietnam's exports to China, meanwhile, grew at just 5 percent, amounting to over $9 billion, or 10 percent of the country's overall exports.
Vietnam's trade deficit with all markets were estimated at $3.5 billion, according to the customs' report.

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