Trade deficit from South Korea and China tends to decline

	Vietnam's export surplus of more than $US 26 billion to the EU
	Trade deficit may return but positive
	Trade deficit is more than US$ 6.5 billion from ASEAN

Import and export operation between Vietnam and the largest trading partners, as of the end of May, the unit “US$ billion”. Chart: T.B

According to the latest statistics from the General Department of Vietnam Customs (GDVC), as of the end of May, Vietnam has 5 trade deficit markets with over US$ 1 billion, including South Korea, China, Taiwan, Thailand and Malaysia. Of which, South Korea is the largest trade deficit market for Vietnam with up to US$ 11.57 billion, followed by China with the trade deficit of US$ 11.16 billion.

But the trade deficit from South Korea and China tends to decline compared to the same period in 2017, in which trade deficit from South Korea decreased by 11.4%, and from China it deceased by 3.7%.

For the South Korea market, as of the end of May, the country’s export turnover was US$ 7.2 billion, increasing by 31% compared to the same period in 2017.

Especially, as of the end of May, Vietnam has 3 commodity groups with export turnover of US$ billion to South Korea, with 2 commodity groups increasing compared to the same period in 2017.

Export turnover of the new commodity groups are computers, electronic products and components, which reached US$ 1.12 billion (the same period in 2017 reached US$ 735 million); textiles and garments reached nearly US$ 1.1 billion (same period in 2017 reached US$ 890 million). Meanwhile, phones continue to be the largest export commodity group to South Korea with export turnover of US$ 1.895 billion.

Notably, import turnover from South Korea in the first 5 months of the year reached US$ 18.769 billion, a slight increase of US $ 230 million over the same period in 2017. This is the reason for South Korea’s trade deficit significantly decreasing.

The commodity group imported from South Korea with the sharpest decrease includes machinery and equipment with turnover of US$ 2.563 billion, a decrease of 1.7% compared to the same period in 2017.

For the Chinese market, as of the end of May, the country’s import turnover was nearly US$ 24.962 billion, increasing by US$ 2.78 billion compared to the same period in 2017.

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In the first 5 months in 2017, the country’s export turnover was US$ 13.803 billion, an increase over US$ 3.2 billion. 3 commodity groups with “US$ billion” of export turnover to China include: computers, electronic products, phones, and vegetables and fruits.

In which, phones is the new commodity group with export turnover of “US$ billion” in the Chinese market with export turnover of US$ 1.835 billion, 4.5 times higher than the same period in 2017.