Vietnam - China trade turnover reaches nearly US$140 billion

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Chart: T.Binh.

According to the latest statistics of the General Department of Customs, in October, the total import-export turnover between Vietnam and China reached nearly US$17 billion, of which Vietnam's exports reached nearly US$6.6 billion and imports reached more than US$10 billion, bringing the total trade between the two countries in the ten months to US$138.92 billion. Notably, Vietnam’s exports still maintain positive growth while import turnover declines.

Specifically, by the end of October, Vietnam exported US$49.58 billion of goods, an increase of 5.1% (or more than US$2.4 billion USD) compared to the same period last year.

The export commodities recording the most impressive growth are fruits and vegetables. In the past 10 months, Vietnam exported US$3.18 billion of fruit and vegetable exports to China reached to China, up 165% over the same period last year (or US$1.8 billion).

Other key product groups with good growth are computers, electronic products and components with a turnover of more than US$11 billion USD, up nearly 11.8% over the same period last year (equivalent to US$1.16 billion USD).

However, there are some key product groups seeing the decrease in turnover such as: machinery, equipment, tools, and spare parts decreased by 17%, or more than US$500 million; Seafood decreased by 15%, or more than US$200 million.

On the contrary, imports from China by the end of October reached US$89.34 billion, down more than US$11 billion year-on-year.

Thus, over the past 10 months, our country has still suffered a large deficit of nearly US$40 billion from the Chinese market.

Currently, China is Vietnam's largest trading partner, this market alone accounts for 24.88% of the country's import-export turnover as of the end of October.

Import and export of Vietnam - China reaches US$162 billion

If only in terms of exports, this market ranks second (after the United States), while imports still maintain the number 1 position.