Vietnam becomes 6th largest trading partner for China
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Vietnam’s trade with China rose by 14 percent last year to $133.09 billion, making it the latter’s sixth-largest trading partner.
Its exports to China grew by 18 percent to $48.9 billion, and imports by 12 percent to $84.1 billion, according to the Ministry of Industry and Trade.
But some of Vietnam’s traditional export items like agriculture, aquaculture, and fisheries faced difficulty with their exports falling by over 3 percent to $6.8 billion.
China is its largest trading partner and second-biggest export market behind only the U.S.
Vietnam was China’s eighth-largest trading partner in 2019 before its rise to sixth in 2020. It is China’s eighth-largest supplier of goods and fifth-largest export market.
Questions & Answers
Q.How much did Vietnam's overall trade with China increase last year?
How much did Vietnam's overall trade with China increase last year?
Vietnam's trade with China increased by 14 percent last year, reaching a total value of $133.09 billion. This growth helped Vietnam become China's sixth-largest trading partner.
Q.Which Vietnamese export categories saw a decline in sales to China?
Which Vietnamese export categories saw a decline in sales to China?
Traditional export items from Vietnam such as agriculture, aquaculture, and fisheries experienced difficulties. Their exports to China collectively fell by over 3 percent, totalling $6.8 billion last year.
Q.What is Vietnam's position as an export market for Chinese goods?
What is Vietnam's position as an export market for Chinese goods?
Vietnam is China's fifth-largest export market. Conversely, China serves as Vietnam's largest trading partner and its second-biggest export market, after only the U.S.