Trade between Vietnam and China surged to over $16.4 billion in January, marking a remarkable year-on-year increase of more than 48%, as revealed by official data.

Vietnam’s exports to China surpassed $4.55 billion, up by 17.28% compared to the previous year, while China’s exports to Vietnam reached $11.88 billion, indicating a substantial 63.64% increase year on year, according to the Vietnamese General Department of Customs.

Consequently, Vietnam experienced a trade deficit of over $7.3 billion with its northern neighbor, as reported by the agency.

Overall bilateral trade exceeded $16.43 billion, marking a notable surge of 48.4% compared to January 2023.

Despite a $900 million decline in cellphone and accessory exports, many other key export categories to China experienced significant growth in January.

Noteworthy exports included computers, electronic products, components, cameras, camcorders, machinery, equipment, tools, spare parts, vegetables, fruits, and seafood, among others.

Fruits and vegetables stood out, generating $306 million in export revenue, a 121% increase from the same period last year, accounting for 62.45% of Vietnam’s total fruit and vegetable exports.

Chinese imports of Vietnamese seafood notably increased in January, with shrimp and tra fish (pangasius) recording a combined turnover of over $120 million, quadrupling from the previous year and making China the leading import market for these items from Vietnam during the month.

In 2023, total trade between the two countries reached approximately $171.2 billion, constituting 25.16% of Vietnam’s total export value and maintaining China’s position as Vietnam’s top trading partner, according to official data from the department.