The outstanding results in Vietnam’s trade relations with US and China

VCN – US is the biggest export partner of Vietnam while Vietnam imports most goods from the China market.
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The proportion of trade relations with China and the United States in total import-export turnover nationwide by the end of July. Sketch by: T.Bình

Currently, the two largest economies in the world are also the leading trading partners of Vietnam.

With the total turnover of $US 88.866 billion in July, China and the United States accounted for 33.4% of Vietnam's total import-export turnover in the same period last year.

China has been Vietnam’s number one trading partner for many years. According to the latest statistics of the General Department of Vietnam Customs, by the end of July, the total export turnover between the two countries reached nearly $US 55.7 billion.

For many years, China has been the biggest market for Vietnam's importers.

Only in the first seven months of this year the import turnover from this country reached $US 35.73 billion.

China ranked first place in supplying many commodities to Vietnam, in that there were “billion USD” goods items such as: machinery and equipment reached $US 6.512 billion, accounting for 34.5% of total import turnover of the whole country.

Telephone and components reached $US 3.332 billion, accounting for 58.6% of total turnover; cotton reached $US 4.05 billion, accounting for 54.8%, and steel reached $US 2.774 billion, accounting for 47.8% ...

Meanwhile, China overtook the United Arab Emirates, the United States and Korea, became the country's largest export market for telephone and components with a turnover of $US 4.334 billion, accounting for 16.4% of the total export turnover of the country.

Computers, electronic products and components are also the main products of our country where China is the No. 1 import market with $US 2.855 billion, accounting for 17.9% ...

Meanwhile, despite the fact that Korea was pushed down to third place in value of import and export turnover with Vietnam, however, the United States remained the No. 1 in the export market for our country.

By the end of July, the total export turnover between the two countries reached $US 33.168 billion. In particular, the export turnover of our country reached $US 25.837 billion.

The United States is the largest export market with many key items of Vietnam.

Notably, garment and textile with the turnover at $US 7.689 billion, accounting for 46.5% of total export turnover of garment and textile of the whole country; footwear reached $US 3.28 billion, accounting for 35.9% of the total turnover of this industry...

By Thái Bình/Thanh Thuy

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