Saturday, June 15,2024 - 1:0 GMT+7  Việt Nam EngLish 

Exports of goods to China reached nearly 50 billion USD in 10 months 

 Wednesday, November 22,2023

AsemconnectVietnam - According to the Import-Export Department (Ministry of Industry and Trade), in the past 10 months, Vietnam exported 49.5 billion USD to China, up 5% over the same period last year, equivalent to an increase of 2.3 billion USD.

Vietnam imported 89.74 billion USD of raw materials from China, down 10.2% over the same period. Total two-way trade turnover after 10 months reached 139.3 billion USD.With this level of performance, China is a rare large market that achieves positive growth in the 10 months of 2023.
Leading the export turnover in the first 9 months of the year is the group of phone products and components reaching more than 10.8 billion USD, accounting for 25.4% of export proportion; Next is the group of computers, electronic products and components reaching 9.9 billion USD, an increase of 12.1%, accounting for 23.3% of the export proportion.
Product groups with impressive export turnover compared to the same period last year include: Vegetables and fruits increased by 160.3%; rice increased by 55.2%; cashew nuts increased by 42.3%; paper and paper products increased by 76.8%; gasoline increased by 24.2%; Coal of all types increased by 160.8%.
China is the main consumer market for many of Vietnam's export industries. Therefore, China's reopening of the market from the beginning of 2023 has brought great expectations for businesses and industries, especially vegetables, fruits, seafood, fiber, cement, rubber, steel, textiles, rice...
Analyzing a number of prospective products, the Ministry of Industry and Trade said that, for computers, phones, and components, it is forecast that the demand of the Chinese market may recover, so exports are expected to grow positively. For seafood products, catfish accounts for over 25% of seafood shipped to China.
Particularly, the vegetable and rice groups will continue to grow strongly in the remaining 2 months of the year thanks to strong demand at the end of the year.
It is estimated that fruit and vegetable exports to China will reach nearly 4 billion USD this year.
In 2022, Vietnam - China export turnover has reached 175.56 billion USD, an increase of 5.47%, of which Vietnam's exports reached 57.7 billion USD, an increase of 3.18%, and imports reached 117, 86 billion USD, an increase of 6.63%, leading to Vietnam's trade deficit of 60.17 billion USD.
Source: Vitic/


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