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China remains Vietnam’s largest trade partner in January-November

China remains Vietnam’s largest trade partner in January-November

Tuesday, December 12, 2023, 17:27 GMT+7
China remains Vietnam’s largest trade partner in January-November
Durian is one of the main Vietnamese agricultural products exported to China. Photo: T. Vy / Tuoi Tre

Trade between Vietnam and China totaled US$155.7 billion from January to November, making the latter the Southeast Asian nation’s biggest trading partner during the period, according to statistics recently released by the General Department of Vietnam Customs.

China has been Vietnam’s largest trading partner for many years, with their import-export turnover accounting for 25 percent of Vietnam’s total import-export value.

Their trade has surpassed $100 billion for the sixth year in a row.

As of the end of November, Vietnam had imported goods worth $100.3 billion from China, turning the latter into the Vietnamese's biggest commodity supplier.

Exports of Vietnamese products to China reached $55.4 billion during the 11-month period, up $2.8 billion year on year.

China became Vietnam’s second-largest goods buyer, after the United States, during the period.

The China-bound shipment of Vietnamese vegetables fetched $3.4 billion in the 11 months, a year-on-year surge of 2.6-fold.

Phones and phone parts were Vietnam’s biggest export earner to the Chinese market between January and November, at $15.1 billion.

Computers and components came second, with a value of nearly $12 billion.

The Southeast Asian nation mainly bought computers, electronic items, equipment, and supporting parts from China in January-November.

Overall, Vietnam logged a $44.9-billion trade deficit with China during the 11-month period.

The statistics released on Tuesday also indicated that Vietnam’s import-export turnover had amounted to $619.3 billion as of November.

Exports of Vietnamese commodities between January and November were valued at $322.6 billion, down 5.8 percent year on year.

Among major earners were computers and parts; phones and phone components; machines and equipment; and textiles and garments, with a value of over $30 billion each.

During the period, Vietnam spent $296.7 billion on imports, down 10 percent year on year.

Vietnam enjoyed a trade surplus of $25.9 billion in the time span.

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Tieu Bac - L. Thanh / Tuoi Tre News

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