Trade value between Guangzhou and VN up 82.2% in five months

VGP – The Chinese city of Guangzhou's trade value with Viet Nam reached US$1.83 billion in the first five months of 2017, a year-on-year increase of 82.2%, according to the Economy and Trade Committee of Guangzhou.

July 05, 2017 3:47 PM GMT+7

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The city's exports and imports from Viet Nam were estimated at US$ 1.4 billion and US$430 million, seeing respective increases of 117.4% and 19.2%.

Gaungzhou earned US$1.83 billion from exporting to Viet Nam, up 12.3% while its import value from Viet Nam attained US$970 million, up 6.5%.

In 2016, Viet Nam was the second largest trade partner of the province in ASEAN, only after Malaysia with US$3.48 billion. The trade turnover between Guangzhou and Viet Nam obtained US$2.8 billion in 2016, up 10.2% against the previous year.

In 2016, the province established four new enterprises in Viet Nam, with the investment totalling US$10.82 million. As of May 2017, 21 new enterprises from Guangzhou were set up in Viet Nam, worth US$49.95 million.

Meanwhile, Viet Nam established nine businesses in Guangzhou, raising the total investment to US$6.48 million.

By Thuy Dung