Vietnam-China trade reaches over US$ 27 billion

Vietnam-China trade higher than between China and India

Import-export activities with China across Kim Thanh II International Border Gate, Lao Cai. Photo: T.Binh.

According to the latest statistics of the General Department of Vietnam Customs, by the end of February, Vietnam - China trade reached US$27.29 billion.

Vietnam’s export turnover to China increased by 6.4% to US$7.96 billion year-on-year.

By the end of February, two export groups to the neighboring country achieved a turnover worth more than US$1 billion include computers, electronic products and components at US$1.64 billion, up 54% compared to the same period of the previous year; phones and components at US$1.46 billion, down over US$1 billion year-on-year.

In addition, the export turnover of many commodity groups earned hundreds of millions of US$. Notably, exports of agricultural products, especially vegetables and fruits increase. By the end of February, fruit and vegetable exports to the Chinese market increased by 57.2% to US$501.4 million.

The imports of goods from China in the first 2 months of the year saw a year-on-year increase of 38.57% to US$ 19.33 billion.

In the first two months of the year, five groups of imported goods achieved the billion-dollar turnover, including: Computers, electronic products and components; phones and components; machinery, equipment, tools, spare parts; fabrics; Iron and Steel.

Until the end of February, Vietnam had a trade deficit of US$11.37 billion from China.

For many years, China has been Vietnam's largest trading partner with a turnover of more than US$100 billion/year.

In 2023, the total import-export turnover between the two countries reached US$171.2 billion, and the turnover to Chinese market alone accounted for more than 25% of the country's total import-export turnover in the previous year.