China - First partner of Vietnam reaches a trade turnover of 100 billion USD
Chart: T. Binh. |
New information published by the General Department of Customs shows in October,the total export turnover of Vietnam to China reached nearly 5.5 billion USD. Total turnover from the beginning of the year to the end of October topped 37.9 billion USD.
By the end of October, there were 10 groups of goods exported to China with turnover of 1 billion USD or more.
Computers, electronic products and components with a turnover of 9.25 billion USD led. Next positions are phones; footwear; vegetables; rubber; machinery, equipment, tools and spare parts.
In October, Vietnam imported goods from China with a turnover of more than 8 billion USD.
From the beginning of the year to the end of October, imports from China exceeded 65.6 billion USD.
Notably, there are 12 groups of goods imported from China with a turnover of 1 billion USD or more. Of which, there are twogroups with turnover of more than 10 billion USD are computers, electronic products and components with more than 14 billion USD and machinery, equipment, tools and spare parts reached more than 13 billion USD.
With a total turnover of more than103.5 billion USD, China continues to be Vietnam's largest trading partner and first market to reach 100 billion USD this year.
China is the largest import market and the second largest export market of Vietnam (after the US).
However, Vietnam's trade deficit with this country is still at a high level of nearly 28 billion USD.
With a gap of tens of billions of USD with the next markets such as the US, South Korea and Japan most likely, by the end of 2020, China will still be Vietnam's only "hundred billion USD" trading partner.
The second largest partner is the US, by the end of October, the turnover is nearly 74 billion USD. If the average turnover maintains as in the past 10 months, by the end of this year, Vietnam-US trade will only be about 90 billion USD.
Related News
Notice for businesses exporting watermelons to China
09:40 | 25/04/2024 Customs
Cooperate to build leading and "rich in vitality" state-owned enterprises
08:59 | 17/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
Latest News
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
More News
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Your care
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export