Experts deny worries over trade deficit towards ROKSome experts have raised concerns over the Republic of Korea (ROK) surpassing China in trade deficit, to become Vietnam’s biggest import market, however, others claimed these worries unfounded and considered it normal as Vietnam is integrating into the world economy. For the first half of 2017, Vietnam’s trade deficit towards the ROK totalled US$16 billion, while it was US$14.1 billion towards China. No concerns over rising trade deficit towards the ROKThere have been some concerns over the rising trade deficit towards the ROK, but Tran Thanh Hai, deputy director of MoIT's Import-Export Department insisted that this rising trade deficit was normal. “We have a trade deficit of US$16 billion towards the ROK, but we have trade surplus towards other countries,” he said. Heavy dependence on a single market is not good, but to accurately assess Vietnam’s trade deficit towards the ROK, the matter should be considered in the global context.

Source: VietNamNet News July 26, 2017 05:03 UTC