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China ranks first among Vietnam's major trade partners in 2013

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HO CHI MINH CITY, Feb. 24 (Xinhua) -- China ranked first among Vietnam's largest trading partners in 2013, together with ASEAN, the United States, the EU, South Korea and Japan, according to Vietnam General Department of Customs on Monday.

Specifically, two-way trade between China and Vietnam reached 50.21 billion U.S. dollars, up 22 percent year-on-year. However, Vietnam's trade deficit with China was large as the country imported goods worth 36.8 billion dollars (up 26.7 percent) from China.

Imports by foreign direct investment (FDI) enterprises from China rose by 38.7 percent to 20.59 billion dollars.

Two-way trade between Vietnam and other ASEAN member states reached 39.9 billion dollars, making it the second largest trade partner of Vietnam.

The United States ranked third in Vietnam's trade partners, with two-way trade reaching 29.1 billion dollars in 2013.

Vietnam's exports to the United States reached 23.87 billion dollars, a 21.4 percent growth, which accounted for nearly 18 percent of the country's total export with a surplus of 18.64 billion dollars.

As the fourth largest trade partner of Vietnam with total trade value of 33.78 billion dollars, the EU was Vietnam's largest market when it imported goods from Vietnam worth 24.33 billion U.S. dollars, up 19.8 percent year on year. The figure accounted for 18 percent of Vietnam's total export.

In 2013, the bilateral trade between Vietnam and South Korea posted the strongest growth among the major trading partners of Vietnam. The total trade turnover was 27.33 billion dollars, up 29. 4 percent year-on-year, of which Vietnam's exports to South Korea reached 6.63 billion dollars, up 18.8 percent, while its imports hit 20.7 billion dollars, up 33.2 percent.

Vietnam's exports to Japan hit 13.65 billion dollars, up 4.5 percent. However, this growth rate is lower than 23 percent in 2010, 40 percent in 2011 and 21 percent in 2012.

Vietnam's imports from Japan increased by 0.1 percent to 11.61 billion dollars in 2013.

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