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Friday, June 03, 2005

Vietnam's China Trade

This piece from Asia times is interesting, it gives some indication of how China trade is a two-way process in SE Asia. China is obviously an exporter as well as an importer of FDI.

"Vietnam's trade deficit with the Chinese market could reach US$2 billion this year, and is expected to continue increasing for the next five years, the Ministry of Trade has warned. In recent years, the deficit has skyrocketed, reaching $1.7 billion last year despite being only $200 million in 2001.

According to statistics from the ministry's Asia and Pacific Region division, 32 Vietnamese import products, listed among the Vietnamese products with the highest import turnover, were from China. The import turnover of these products stood at $3.66 billion, comprising around 82.2 per cent of Vietnam's total import value. Petrol had the highest import turnover, at $740 million, followed by iron and steel, clothing materials and motorbike parts at $4.9.5 million, $290.2 million and $92.7 million respectively.

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