China takes top spot on VN’s list of importersChina has overtaken the US to become Viet Nam’s largest importer as of January 2018, accounting for 77 per cent of the country’s export market, official statistics show. This time in previous years, China’s annual imports value from Viet Nam was a mere $1.9 billion, making it the third biggest importer from Viet Nam. During the same period, Viet Nam spent $5.767 billion importing goods from China, meaning a trade deficit of $2.059 billion. In December 2017, the China International Finance Corporation (CICC) predicted that China will overtake the US as the world’s largest importer over the next five years. As the world’s most populous market, China is expected to become the largest consumer market in the world and will start importing more consumer goods than raw industrial materials.

Source: VietNamNet News February 23, 2018 01:07 UTC