According to the latest statistics of General Department of Customs, in September, Vietnam imported goods from China with a turnover of 12.24 billion USD.
In the month, there were 2 groups of goods with a turnover of billions of dollars: computers, electronic products and components; machinery, equipment, tools, spare parts.
In the first 9 months, Vietnam spent 104.8 billion USD importing goods from China, an increase of 32.2% over the same period last year (equivalent to an increase of 25.53 billion USD).
There were 15 groups of goods imported from China with a turnover of 1 billion USD or more.
Of which, 2 groups achieved a turnover of tens of billions of dollars: computers, electronic products and components reached 25.79 billion USD; machinery, equipment, tools, spare parts 20.87 billion USD.
In contrast, Vietnam's exports to China in the past 9 months reached 44.4 billion USD, a slight increase of 2.94% over the same period last year (equivalent to an increase of 1.27 billion USD).
By the end of September, 10 groups of Vietnamese export goods reached a turnover of 1 billion USD or more. Of which, there was a group of tens of billions of dollars, which was phones and components, reaching 10.86 billion USD.
Accumulated in 9 months, total import-export turnover between Vietnam and China reached 149.2 billion USD.
Trade balance is in large deficit for Vietnam with a trade deficit from China of up to 60.4 billion USD.
Assessing issue of trade deficit from Chinese market, Dr. Le Quoc Phuong - former Deputy Director of Vietnam Industry and Trade Center (Ministry of Industry and Trade) said that currently, import turnover from Chinese market is relatively large, however, structure of imported goods from this market is mainly raw materials for production and export, so it is not too worrying. Imported goods from China, especially raw materials for production, are of good quality and competitive prices. Two-way transportation is more convenient due to close geographical location, so Vietnamese enterprises prioritize imports from this market.
Meanwhile, Vietnam's exports to China are mainly agricultural products, absolute value of which cannot be as high as raw materials for production.
In 2023, import-export turnover between Vietnam and China reached 171.9 billion USD. In 2024, a forecast of 200 billion USD in import-export turnover between Vietnam and China can be achieved soon in context of many current advantages.

Source: Vitic/ congthuong.vn