AsemconnectVietnam - China is one of the leading trade partner of Vietnam. In the first 3 months of this year, China was still the country’s leading import market.

The country’s export of goods to China saw increase. Especially, the country’s export of crude oil to China rocketed and China has become the country’s biggest export market of crude oil in the first 3 months of this year. 

In the first three months of this year, China was the biggest import market of Vietnam with the import value of US$ 10.4 billion, down by 8 per cent over the same period last year. 

Of the figure, the import of machinery, equipment, tools and spare parts decreased by 13.1 per cent; cell phones and accessories – down by 18.4 per cent; computers, electronic products and components – up by 2.3 per cent; and cloths – up by 6.6 per cent.

In the first 2 months of this year, Vietnam’s import of goods from China fell by 13.69 per cent over the same period last year to US$ 6.54 billion.

The decrease was attributed to the falling import value of machinery, equipment, tools and spare parts, which was down by nearly 23 per cent year – on – year to $ 1.18 billion; cell phones and accessories – down by 22 per cent to $ 965.85 million; computers, electronic products and components – down by 0.3 per cent to $ 756.77 million; cloths of all kinds – down by 3.82 per cent to $ 668.25 million; iron and steel of all kinds – down by 4.97 per cent to $ 582.1 million; textile, garment, leather and footwear of all kinds materials – down by 0.76 per cent to $ 231.05 million.

China also ranked ninth in the list of big investors in Vietnam. By the end of February, China (not including Taiwan, Hong Kong and Macau) has 1,346 effective projects in Vietnam with the total registered capital of $ 10.4 billion.

Export of goods to China increased

Vietnam has earned US$ 1.1 billion from export of goods to China in February and $ 2.4 billion in the first 2 months of this year, up by 10.38 per cent over the same period last year. 

In the first 2 months of this year, Vietnam exported 40 kinds of items to China, leading by computers, electronic products and components with the export turnover of $ 337.5 million, up by 4.8 per cent over the same period last year and accounted for 13.8 per cent of the total.

It was followed by fruit and vegetables with $ 236.6 million, up by 184.76 per cent year – on – year; and yarns of all kinds with $ 191.4 million, up by 10.22 per cent. 

The country’s export of cashew nuts to China in the first 2 months of this year rocketed by 958.84 per cent to $ 56.3 million; that of fruit and vegetables – up by 184.76 per cent; coffee – up by 137.62 per cent; and ordinary metals and products – up by 324.3 per cent. 

However, the export of plastics to China fell sharply by 68.49 per cent; glass and products – down by 53.38 per cent; iron and steel of all kinds – down by 52.8 per cent; and ores and minerals – down by 46.75 per cent.

Export of crude oil to China rocketed in first 3 months

Vietnam’s export of crude oil to China in the first 3 months of this year reached 1.2 million tons worth of $ 323 million, up by 253 per cent in quantity and 130.5 per cent in value. China has become the country’s biggest crude oil export market in the first 3 months of this year.

K.Cuc

Source: Asem/Vinanet/ doanhnghiepvn.vn/ the General Department of Customs