AsemconnectVietnam - China is Vietnam's largest trade partner and our country is also having the largest trade deficit from this neighboring country.

According to the preliminary statistics figures released by the General Department of Customs, in the first quarter of 2023, our country's exports to China in the first quarter of the year reached 11.923 billion USD, down by 10.8% over the same period last year and accounted for 15 % of total export turnover of the country.
In the first quarter, there were 2 groups of goods exported to China that reached 1 billion USD or more and both experienced negative growth. Specifically, the exports of phones and components reached 3.52 billion USD, down by 4.5%; computers, electronic products and components reached 2.4 billion USD, down by 18.8%.
In contrast, the country’s imports from China reached 23,636 billion USD, down by 14.4% and accounting for 31.7% of the total import turnover of the country.
5 groups of imported goods got the turnover of 1 billion USD in the first quarter of this year. In which, the exports of computers, electronic products and components reached approximately 5 billion USD, down by 18.6%.
The next was machinery, equipment, tools and spare parts with 4.54 billion USD, down by 16%; then the imports of fabrics reached 1.8 billion USD, down by 20%; and the imports of phones and components reached 1.62 billion USD, down by 28.4%.
The only group of "billion-dollar" imports with positive growth was iron and steel with a turnover of 1.086 billion USD, up by 8.7%.
Currently, China is Vietnam's largest trading partner and also the country's largest trade deficit market. Last quarter, the deficit amounted to nearly 12 billion USD.
CK
Source: VITIC/haiquanonline.com.vn