Vietnam-China trade hits nearly $100B

By VNA   July 3, 2024 | 06:51 pm PT
Vietnam-China trade hits nearly $100B
Trucks leave China for Vietnam at Kim Thanh 2 Border Gate, northern Lao Cai Province. Photo by VnExpress/Giang Huy
Bilateral trade between Vietnam and China is reaching the threshold of US$100 billion in the first six months of this year.

According to the Ministry of Industry and Trade, the bilateral trade between the two countries is recovering impressively despite ongoing global economic difficulties and geopolitical conflicts.

China remains the largest trading partner, the largest import market and the second largest export market of Vietnam in the world.

Updates from the General Statistics Office showed that Vietnam’s exports to China reached $27.8 billion in the first half of this year, up 5.3% over the same period last year. Vietnam imported goods worth $67 billion from China in the reviewed period, up 34.7%.

Vietnam ran a trade deficit worth $39.2 billion with China in the period, up 67.9%.

The Vietnam Trade Office in Beijing said that the Chinese economy is recovering positively. The Chinese Government is also issuing policies on import-export management which will create favorable conditions for exports into this market if products meet quality standards.

The trade office pointed out that Vietnam has plenty of opportunities to increase exports to China. Chinese enterprises are showing interests in buying manufacturing and processing and agricultural products, especially fruits from Vietnam such as durians, watermelons and bananas.

To date, a dozen agricultural products are exported officially to China, with negotiations being completed for the official export of fresh coconuts and frozen durians.

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