Exporting phones to China increase by 137%

The development of export turnover of telephone exporting to China in the first 8 months of 2017 and 2016 (unit: million USD). Sketch by T.Bình

According to latest information for General Department of Vietnam Customs, by the end of August, Vietnam exported to China with a total value of turnover was $US 18.732 billion. It increased by 45% over the same period in 2016, equivalent to $US 5.815 billion.

Notably, phones and components items have grown strongly to become one of the largest export groups to China. Specifically, by the end of August, the value of imports turnover of this group reached $US 1.351 billion, increased by 137% over the same period of 2016 (the same period reached $US 570 million).

In particular, the export turnover of telephones has a great leap forward in August with a turnover of $US 546 million. This figure is increased by more than 132.3% over the previous month (in July) and rose up to 7 times compared to 8/2016 (it was only $US 78 million in 8/2016).

Besides that, by the end of August, Vietnam has 6 commodity groups exported to China which reached $US 1 billion and over in turnover value. Leading is computers, electronic products and components that reached $US 4.038 billion; followed by vegetables and fruits reached $US 1.787 billion; Phones and components; fiber, textile fiber was $US 1.296 billion; machinery, equipment, and spare parts reached $US 1.067 billion; photo camera, camera, and components reached $US 1.037 billion.

In that, 3 new commodity groups reached fake value the "billion dollar" that were telephones and components; machinery, equipment, spare parts; photo camera, camera, and components.

Although vegetables are the second largest export commodity to China, however, this group has a lot of fruits made in Thailand, especially mangosteens, durians, and longan.

Until now, China is the second largest export market of Vietnam (after the United States) with a market share is accounted by nearly 13.9% of the total export turnover of the country at the same time. However, Vietnam still has a large trade gap with this partner when the trade deficit in August reached nearly $US 17.8 billion.