The latest report from General Statistics Office shows that in the past 11 months, export turnover from Vietnam to China reached 55.2 billion USD, down 0.9%; imports from this market reached 130.2 billion USD, up 29.7%. China is Vietnam's largest import market. Trade deficit with China was 75 billion USD, up 67.7%.
Thus, after 11 months, two-way trade turnover between Vietnam and China has reached 185.4 billion USD.
With this figure, in the past 11 months, average two-way trade turnover between Vietnam and China reached 16.8 billion USD/month. If this result is maintained, by the end of this year, two-way trade turnover between Vietnam and China could reach 200 billion USD - a record number to date, equivalent to nearly 1/4 of the country's total import-export turnover. This is considered a positive target, because in the last month of this year, import-export demand often increases to serve goods for the year-end holidays. Currently, agricultural products are Vietnam's main export item to Chinese market. In the first 10 months of 2024, Vietnam's agricultural export turnover to China reached nearly 10 billion USD, an increase of 11.6% over the same period in 2023. To date, Vietnam has had 14 agricultural products officially exported to Chinese market, including: durian, bird's nest, sweet potato, dragon fruit, longan, rambutan, mango, jackfruit, watermelon, banana, black jelly, mangosteen, lychee and passion fruit. Among them, some products such as durian, dragon fruit...from Vietnam are very popular with Chinese consumers, import volume of these items from Vietnam accounts for about 1/5 of the total agricultural products imported from ASEAN.
To promote two-way trade, recently, Vietnam - China International Trade and Tourism Fair (Lang Son 2024) was held, not only as a "bridge" for businesses of the two countries to strengthen cooperation and promote trade, but also contributing to strengthening friendly cooperative relationship between Lang Son and Guangxi in particular, Vietnam and China in general in the fields of trade, tourism and people-to-people exchange...
Speaking at opening ceremony of the fair, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that the fair is an effort to strengthen trade promotion activities, creating opportunities for cooperation, investment and mutual development for Vietnamese and Chinese businesses.
Two-way trade is developing, but currently, Vietnam is importing a lot from China. Talking to reporters of Industry and Trade Newspaper on this issue, Dr. Le Quoc Phuong - former Deputy Director of the Center for Industry and Trade (Ministry of Industry and Trade) said that currently, import turnover from the 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 the close geographical location, so Vietnamese enterprises prioritize importing from this market.
Meanwhile, Vietnam's exports to China are mainly agricultural products, absolute value cannot be as high as raw materials for production.
In 2023, import-export turnover between Vietnam and China reached 171.9 billion USD.

Source: Vitic/ congthuong.vn