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Vietnam-China trade exceeds $100 billion in eight months

Vietnam’s import and export turnover with China stood at an estimated US$103.92 billion during the past eight months of the year, reported the Voice of Vietnam according to details given by the Ministry of Industry and Trade.


Vietnam’s import and export turnover with China stood at an estimated US$103.92 billion during the past eight months of the year
Vietnam’s import and export turnover with China stood at an estimated US$103.92 billion during the past eight months of the year

Throughout the reviewed period China represented the country’s second-largest export market with an estimated turnover reaching US$35.79 billion, representing a rise of 0.1% against the same period from last year.


Meanwhile, China remains the nation’s largest import market with an estimated revenue of US$68.13 billion, an annual decline of 17%.


Most notably, the northern neighbor is still the largest consumer of Vietnamese fruit and vegetables, accounting for nearly 65% of total turnover. Durian represents the most popular fruit product exported to this market, with jackfruit anticipated to see robust growth shortly.


At present, China is also considering the prospect of allowing Vietnamese fresh coconuts to be officially exported to the market.


From now until the end of the year, Vietnam's agricultural product exports to the Chinese market are forecast to witness slight growth. Some commodity groups such as fruit and vegetables, rice, and cashews will likely maintain their high growth rate.


Moreover, several commodities that suffered a sharp fall in the first half of the year, such as wood, seafood, and cassava, may recover slightly in the remaining months. Last year saw joint import-export turnover hit US$175.56 billion, representing an increase of 5.47% compared to figures recorded in 2021.


Vietnamese exports to China rose by 3.18% to US$57.7 billion, while imports from this market surged by 6.63% to US$117.8 billion.

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