According to the statistics of the General Department of VietNam Customs, Vietnam’s exports to China increased by 6.4% year-on-year to US$ 61.2 billion.

Vietnam’s exports to Chinse market is a bright spot in the gloomy global trade activities in the previous year.

In 2023, 12 product groups of the country’s exports to the neighboring market recorded the turnover of US$1 billion or more. The two product groups with the turnover of US$10 or more include: mobile phones and components at US$16.87 billion; computers, electronic products and components at US$13 billion.

Other groups achieved the turnover of billion dollar such as cameras, camcorders and components; Vegetables; machinery, equipment, tools, spare parts...

The imports of goods from China decreased over US$ 7.3 billion year-on-year to US$ 110.64 billion.

17 groups of goods imported from China with a turnover of US$1 billion or more. Two import commodity groups reached billion US$ as computers, electronic products and components at US$23.4 billion; machinery, equipment, tools, and spare parts atUS$ 22.5 billion.

With a total turnover of US$171.2 billion achieved last year, China continues to be Vietnam’s largest trading partner, accounting for more than 25% of the country’s total turnover.

However, our country’s trade deficit with China is still large when last year’s trade deficit was about US$50 billion.

Customs News