Vietnam-China trade reaches about US$ 90 billion

	Vietnam-China trade turnover reaches US$100 billion in ten months
	Vietnam-China trade higher than between China and India

Chart by: T.B

According to the latest statistics of the General Department of Vietnam Customs (GDVC), in the first seven months of the year, the total import-export turnover between Vietnam and China reached more than US$ 89 billion.

Vietnam's exports increases by 1.8% year-on-year to US$30.502 billion, accounting for 15.6% of the total export turnover of the country. Currently, China is Vietnam's second largest export market (after the United States).

The increase of 1.8% is not high compared with the export turnover in recent years, but this is positive figure in the context of negative growth in exports of the whole country.

Currently, China is a key market for many major export groups such as mobile phones and components; computers, electronic products and components; machinery, equipment, tools and spare parts…

In the agricultural sector, the neighboring country is also the export market for major commodity groups such as vegetables, fruits, fishery products, rice, cashew nuts... Notably, in the first seven months of the year, vegetables and fruits were exported to China rose 30.8% year-on-year to US$ 1.99 billion, accounting for 65% of the country's total fruit and vegetable export turnover.

In the past seven months, the whole country spent US$58,656 billion importing goods from China. Although the import turnover dropped 17.9% compared with the same period in the previous year, this was the Vietnam's largest import market, accounting for 32.8% of the total import turnover of the country.

Most of the major groups of Vietnam have shipped to China such as mobile phones, computers, raw materials for textiles and garments, footwear, consumer goods, chemicals...

Although China still maintains its position as the largest trading partner of Vietnam, due to the plunge in import turnover and a slight increase in exports, the bilateral trade between the two countries fell about US$12 billion compared with the previous year.

In the first seven months of the year, the country had a trade deficit of more than US$ 28 billion from China, a plummet compared with the same period in the year ago due to the decrease in imports.