China-Vietnam Bilateral Trade Volume Exceeds US$130 billion
Jayson 24 Sep 2024 08:42
According to the General Administration of Customs, in the first eight months of 2024, the bilateral trade volume between Vietnam and China reached 130.78 billion US dollars, showing the active trade activities between the two sides.
Specifically, Vietnam exported goods worth 38.28 billion US dollars to China, a year-on-year increase of 3.9%, while imports from China reached 92.5 billion US dollars, a sharp increase of 34.25% year-on-year, indicating that Vietnam's trade deficit with China has widened to 54.22 billion US dollars.
In terms of exports, Vietnam's main export products include mobile phones and parts, computers and electronic products and their parts, and vegetables.
In terms of imports, Vietnam mainly imports computers, electronic products and parts, machinery, equipment, tools and spare parts from China, with imports of these two categories of goods of 22.65 billion and 18.43 billion US dollars respectively.
Despite the significant trade deficit, the trade relationship between Vietnam and China is still seen as a bright spot, especially in the context of the poor global trade environment. It is expected that by the end of 2024, the bilateral trade volume between Vietnam and China is expected to reach 200 billion US dollars, showing the depth and breadth of economic cooperation between the two sides.
Specifically, Vietnam exported goods worth 38.28 billion US dollars to China, a year-on-year increase of 3.9%, while imports from China reached 92.5 billion US dollars, a sharp increase of 34.25% year-on-year, indicating that Vietnam's trade deficit with China has widened to 54.22 billion US dollars.
In terms of exports, Vietnam's main export products include mobile phones and parts, computers and electronic products and their parts, and vegetables.
In terms of imports, Vietnam mainly imports computers, electronic products and parts, machinery, equipment, tools and spare parts from China, with imports of these two categories of goods of 22.65 billion and 18.43 billion US dollars respectively.
Despite the significant trade deficit, the trade relationship between Vietnam and China is still seen as a bright spot, especially in the context of the poor global trade environment. It is expected that by the end of 2024, the bilateral trade volume between Vietnam and China is expected to reach 200 billion US dollars, showing the depth and breadth of economic cooperation between the two sides.
