Trade deficit reaches 500 million USD during Jan-Sep
Export turnover in the first 9 months of 2017 enjoyed a year-on-year rise of 19.8 percent, while import value was up 23.1 percent, resulting in trade deficit of 500 million USD.
Vietnam’s trade deficit was estimated to hit 2.13 billion USD in the first eight months of 2017, according to the General Department of Vietnam Customs.
Improving the quality of domestically-produced goods is critical for Vietnam to compete with imported products from and narrow the trade deficit with Thailand, according to the Ministry of Industry and Trade (MoIT).
Deputy Minister of Industry and Trade Tran Quoc Khanh and his Chinese counterpart Gao Yan co-chaired the 10th meeting of the Vietnam-China Committee for Economic and Trade Cooperation in Hanoi, focusing on measures to reduce Vietnam’s trade deficit with China.