Trade between Vietnam and China reached $155.7 billion from January to November, establishing China as the foremost trading partner for the Southeast Asian nation during this period, according to recently released statistics from the General Department of Vietnam Customs.
China has consistently held the position of Vietnam’s largest trading partner, contributing 25 percent to the total import-export value. This marks the sixth consecutive year their trade has exceeded $100 billion.
By the end of November, Vietnam had imported goods worth $100.3 billion from China, solidifying its status as the primary commodity supplier.
Vietnamese exports to China amounted to $55.4 billion in the 11-month period, representing a year-on-year increase of $2.8 billion.
China became Vietnam’s second-largest buyer of goods, following the United States, during this timeframe.
Shipments of Vietnamese vegetables to China surged to $3.4 billion in the 11 months, marking a 2.6-fold year-on-year increase.
Phones and phone parts emerged as Vietnam’s top export to the Chinese market between January and November, totaling $15.1 billion.
Computers and components followed closely, reaching a value of nearly $12 billion.
Throughout January-November, Vietnam predominantly imported computers, electronic items, equipment, and supporting parts from China.
Overall, Vietnam recorded a trade deficit of $44.9 billion with China during the 11-month period.
The statistics released on Tuesday also revealed that Vietnam’s import-export turnover amounted to $619.3 billion as of November.
Exports of Vietnamese commodities between January and November were valued at $322.6 billion, experiencing a 5.8 percent year-on-year decline.
Major earners included computers and parts, phones and phone components, machinery and equipment, and textiles and garments, each surpassing $30 billion in value.
During the period, Vietnam spent $296.7 billion on imports, reflecting a 10 percent year-on-year decrease. Vietnam achieved a trade surplus of $25.9 billion during this timeframe.
