Vietnam-China trade in January drops amid virus outbreak and holidays

06.02.2020 - Petr Mazaylo
Vietnam-China trade in January drops amid virus outbreak and holidays

Vietnam-China trade dropped in January due to the coronavirus spread amid the Lunar New Year holiday, disrupting supply chain and transport.

China is Vietnam’s largest partner in trading in manufacturing of materials and equipment for labor.

Bilateral trade fell in January for 25.8% from December’s figures. In the previous year, bilateral trade declined 11.8%, the government of Vietnam said.

According to the Vietnamese government, China-Vietnam trade sharply fell due to the effect of the virus outbreak right after the holidays.

Cross-border trade between the two countries was no longer advised by the Vietnamese government last week. This was followed by an announcement to ban all flights going in and out of China to Vietnam.

Death toll on the coronavirus outbreak has already climbed to 563. The Vietnamese health ministry has confirmed the second and third confirmed case of coronavirus on Tuesday, totaling to 10.

The Vietnam government said that they expect the gross domestic product to decrease by 1% from the 6.8% GDP target.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?