AsemconnectVietnam - According to the General Statistics Office, in the first 10 months of 2024, the two-way trade turnover between Vietnam and China reached 168.5 billion USD, while the two-way trade turnover between Vietnam and the United States reached 110.7 billion USD.

These are the two leading partners of Vietnam.
Vietnam - China trade turnover reached 168.5 billion USD in 10 months
According to the latest report of the General Statistics Office, in the first 10 months of 2024, the two-way trade turnover between Vietnam and China reached 168.5 billion USD.
Of which, the export turnover of goods to China reached 117.7 billion USD, an increase of 31.6% over the same period. The import turnover from China to Vietnam reached 50.8 billion USD, up by 2.1% over the same period last year. The trade deficit with China was 66.9 billion USD, up by 68.5%. China is still the largest import market for Vietnamese goods.
In 2003, Vietnam and ASEAN signed the Framework Agreement on Comprehensive Economic Cooperation to establish a Free Trade Area (FTA) with China and in 2020, the two countries also simultaneously signed and are implementing the Regional Comprehensive Economic Partnership (RCEP).
The above two FTAs, together with the establishment of a comprehensive strategic partnership between Vietnam and China in 2008, have strongly promoted the development of bilateral trade. In 2024, Vietnam and China are working with ASEAN countries to promote negotiations to upgrade the ASEAN-China FTA to version 3.0 to open up more economic and trade opportunities for countries in the region in general and the two countries in particular.
Since 2004, China has always been Vietnam's largest trading partner. The bilateral trade growth in the past 10 years has been at double digits.
Currently, China is Vietnam's second largest export market and largest import market. With many advantages in economic and trade cooperation, over the years, trade exchange between Vietnam and China has maintained stable and sustainable growth.
Vietnam's main export items to the Chinese market
In terms of goods, Vietnam exports to China items such as mobile phones, components, electronic equipment, rubber, agricultural products, seafood, etc. and imports from the Chinese market products such as machinery, equipment, raw materials for garment production, leather shoes, iron and steel, construction materials, etc., as well as daily necessities.
In terms of exports, agricultural products are the main item that Vietnam exports to China. In particular, durian is a "hot" item of Vietnam that is very popular in the Chinese market. In addition, China also favors longan, lychee, mango, fresh coconut, etc. from Vietnam.
According to data from the General Department of Customs, in 2023, the bilateral import-export turnover reached 171.2 billion USD. Of which, Vietnam's exports to China reached 61.2 billion USD, an increase of 6.4% compared to 2022 (equivalent to an increase of 3.7 billion USD).
The imports of goods from China in 2023 reached 110.64 billion USD. In 2024, the two-way trade turnover between Vietnam and China is expected to reach 200 billion USD.
Vietnam - US trade exchange in the first 10 months of 2024
According to the latest statistics of the General Statistics Office, in the first 10 months of 2024, the export turnover to the US market reached 98.4 billion USD, an increase of 24.2% over the same period last year.
In the opposite direction, the import turnover from the US market reached 12.3 billion USD, an increase of 8.2% over the same period. Currently, the US is Vietnam's largest export market.
Vietnam's export of goods to the US market is very positive at the end of the year with key items such as textiles, footwear, wooden furniture, mechanics, electronics, seafood, etc.
According to statistics from the General Department of Customs, Vietnam - US trade reached the 100 billion USD mark for the first time in 2021, with 111.5 billion USD.
Entering 2022, despite facing many difficulties due to the impact of the Covid-19 pandemic, two-way trade still had remarkable growth with a turnover of nearly 124 billion USD.
In 2023, the two-way trade turnover will decrease to 110.8 billion USD (down by 10.5% compared to 2022), of which Vietnam exports goods worth 97 billion USD to the US, down by 11.3% compared to 2022, and imports from the US reach 13.8 billion USD, down by 4.5%. The trade surplus with the US reached 83.2 billion USD, down by 12.3% compared to 2022. With the results achieved in 10 months, this year is the 4th consecutive year that trade between the two countries has reached the hundred billion USD mark.
CK
Source: VITIC/congthuong.vn