Name 14 groups of "billion" commodities between Viet Nam and China

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Chart of 6 commodity groups of Vietnam that exported "billions" to China, till the end of 11-2016. Chart: T.Binh

The biggest trading partner

Although China is only the second export markets of Vietnam following after the United States, but in overall review of trade relations between two countries, China is the biggest trading partner of Vietnam, in total of more than 200 countries and territories which Vietnam has foreign trade relations.

According to the latest information from the General Department of Customs, by the end of November 2016, the total value of exports and imports between the two countries reached $US 59.298 billion dollars, accounting for 18.7% of total import-export turnover the whole country in the same time.

In particular, our country exports to China the amount of goods that reached$US 19.604 billion dollars, accounting for 12.25% of total national exports, and an increase of nearly 26.7% over the same period 11 months in 2015.

By the end of November 2016, in 6 "billion dollar" items exported to China, computers, electronic products and components obtained the first rank with a turnover of $US 3.411 billion.

The next position is vegetables with $US 1.529 billion; kinds of fibers and yarns were at nearly $US 1.5 billion; cameras, camcorders and components reached $US 1.443 billion; Crude oil reached $US 1.232 billion; machinery, equipment, tools and spare parts reached $US 1,126 billion.

In term of importation, at the same time, our country spent $US 40.238 billion to import goods from China, accounting for 25.63% of total imports turnover.

The major imported commodities from China are machinery, equipment, tools, spare parts which was $US 7.346 billion, followed by telephone components reached $US 4.917 billion; computers, electronic products and components reached $US 4.761 billion; fabrics reached $US 4.417 billion; steels were $US 3.613 billion; materials of textile, garment, leather and shoes reached $US 1.549 billion; metal reached $US 1.305 billion; plastic products reached $US 1.203 billion.

If the average level of turnover is maintaining as the first 11 months of 2016 (average of nearly $US 5.4 billion/month), there will be possibilities of closing data from the General Department of Customs fromimport and export activities which declared by enterprises in 2016 can be approximately $US 65 billion of turnover that was between Viet Nam and China. This figure is due to the routine thatin the last month of year, import and export of Viet Nam will rise higher than average.

Increase export, decrease import

In the trading relation of Viet Nam - China in 2016 there is a positive signal that was while we still were maintaining high export growth rate to China at 2 figures, the imports from this country fell.

Chart of 8 "billion dollar" commodity groups from China, by the end of November 2016. Chart: T.Binh

Specifically, by the end of November 2016, the import turnover value from China plummeted by nearly $ 4.9 billion compared to the same period of 2015, equivalent to nearly 11% reduction.

The decrease in imports of goods from China in 2016 was a remarkable achievement because from 2015 and earlier, China has maintained a high export growth in our country's market.

Notably, the major import items from China are all on a downward trend. Biggest drop was phones and components with the reduction in the first 11 months of 2016 amounted to $US 1.534 billion over the same period in 2015; machinery, equipment, tools, spare parts decreased $US 806 million; iron and steel decreased $US 168 million...

6 commodity groups worth "billions" of US dollars between Vietnam and Japan VCN- Currently, Japan is the 3rd largest trade partner of Vietnam in Asia, following China and South ...

The increase of export, decrease of import with Chinese partners helpedour country's trade deficit level with this country was also dragged down sharply from $US 29.61 billion in the first 11 months of 2015 to $US 20.634 billion in the first 11 months of 2016.