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Vietnam-China trade may set a record of 200 billion USD this year 

 Friday, November 22,2024

AsemconnectVietnam - In 2024, Vietnam-China bilateral trade may set a new record of 200 billion USD.

According to the latest statistics from the General Department of Customs, by the end of October, the total import-export turnover between Vietnam and China reached 167.46 billion USD.
Thus, on average, each month, the import-export turnover between the two countries reached nearly 17 billion USD.
If this turnover is maintained in the last 2 months of the year, Vietnam-China trade will set a new record of 200 billion USD.
This is reasonable, because normally the import-export turnover between the two countries increases sharply in the last months of the year because this is the time to prepare goods for the Lunar New Year in both Vietnam and China.
The milestone of 200 billion USD is also a record number in bilateral trade that our country has set with a partner.
In the past 10 months, Vietnam's exports to China reached 49.94 billion USD, a slight increase of nearly 200 million USD compared to the same period last year.
The export turnover to China increased slightly, due to the two largest items, phones and components; computers, electronic products and components, with a sharp decrease in turnover compared to the same period last year.
Specifically, the export turnover of phones and components only reached 12.54 billion USD, a decrease of more than 700 million USD.
Meanwhile, computers, electronic products and components also only reached 9.9 billion USD, a decrease of 1.1 billion USD.
Notably, export groups in the agricultural sector have seen good growth, such as vegetables, seafood, wood and wood products, rubber, etc.
In particular, the exports of the group of vegetables and fruits reached nearly 4.1 billion USD, an increase of 28.66%, equivalent to an increase of more than 900 million USD compared to the same period of 2023.
On the contrary, the imports of goods from China in the first 10 months reached 117.52 billion USD, a sharp increase of 31.41% over the same period last year (equivalent to an increase of 28.09 billion USD).
Thus, in the past 10 months, our country had a trade deficit of 67.58 billion USD from China.
CK
Source: VITIC/ haiquanonline.com.vn

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