10 biggest trade partners of Vietnam in 2018

The import-export activities at Hai Phong port. Photo: T.Bình

According to the new information of the General Department of Vietnam Customs, in 2018, among 10 biggest trading partners of Vietnam (countries and territories) there are 8 markets located in Asia.

Only two major trading partners are outside Asia and listed in the Top 10, which are the United States and Germany.

In particular, the import and export value between Vietnam and China is the largest, reaching $US 106.7 billion and accounting for 22.2% of the total import-export value of the country.

The next major partners are: South Korea reached $US 65.7 billion, accounting for 13.7%; the United States with $US 60.3 billion, accounting for 12.6%; Japan reached more than $US 37.8 billion, accounting for 7.9%; Thailand reached $US 17.3 billion, accounting for 3.6%; Taiwan, $US 16.379 billion, accounting for 3.4%; Malaysia reached $US 11.5 billion, accounting for 2.4%; Germany reached $US 10.7 billion, accounting for 2.2%; India reached $US 10.7 billion, accounting for 2.2%; Hong Kong reached nearly $US 9.5 billion, accounting for 2%.

Thus, the above 10 markets reached a total turnover of $US 346.579 billion, accounting for more than 72.2% of the total import-export turnover of the country in 2018.

Among the 10 largest trading partners, Vietnam achieved trade deficit from 6 markets. In particular, the Vietnamese market suffered a huge trade deficit with South Korea, which is up to $US 29.293 billion.

The other markets that Vietnam suffered trade deficits are: China is nearly $US 24 billion; Taiwan is $US 10.077 billion; Thailand is $US 6,529 billion; Malaysia is $US 3.402 billion; Japan is 161 million.

Meanwhile, the United States is the biggest export market of Vietnam with a turnover of $US 34.772 billion.

The other markets are Hong Kong with $US 6.416 billion; Germany reached $US 3.048 billion, and India reached 2.395 billion.