China vietnam trade statistics

Fish being processed for export by workers of Sai Gon Aquatic Products Trading JSC in HCM City. — VNA/VNS Photo Xuan Anh Viet Nam’s trade balance posted positive US$1.29 billion in the first two months of the year, the General Department of Customs has said. The country’s trade turnover during January-February topped some $95.81 billion, a year-on-year surge of 25.4 per cent. Of the total, exports amounted to $48.55 billion, a yearly hike of 23.2 per cent, while imports were estimated at $47.26 billion, or 25.9 per cent higher than the same time last year. Foreign-invested companies accounted for 76.4 per cent, or $37.07 billion, of Viet Nam’s total export turnover. Meanwhile, the domestic sector shipped abroad $11.48 billion worth of products. There were nine commodities joining the billion-USD export club, including telephones and parts ($9.3 billion, up 22.8 per cent year-on-year); electronics, computers and parts ($6.9 billion, up 27.3 per cent); equipment, machines and parts ($5.5 billion, up 72.6 per cent); footwear ($3.2 billion, up 15.4 per cent); and wood and wooden products ($2.4 billion, up 51 per cent). They made up 73 per cent of the country’s export turnover. Viet Nam also saw strong surge in shipments of several agricultural products, such as fruits and vegetables ($610 million, rising 14.6 per cent), rubber ($516 million, increasing 109.7 per cent), cashew ($442 million, up 21.5 per cent), and cassava ($256 million, up 78.2 per cent). The US was Viet Nam’s biggest importer as it splashed out $14.2 billion on Vietnamese products, or 38.2 per cent higher than the amount it spent the same time last year. China came second with $8.5 billion, followed by the EU with $6.3 billion, ASEAN $4.2 billion, South Korea $3.4 billion, and Japan $3.2 billion. Meanwhile, the country spent big ($47.26 billion) on imports, with the foreign-invested sector purchasing $31.64 billion worth of products from abroad for production, up 31.4 per cent, while that …

[Read more...] about Viet Nam racks up $1.29 billion in trade surplus in two months

Clam processing at Lenger Seafoods Vietnam Co. Việt Nam and the UK saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. VNA/VNS Photo HÀ NỘI — After the UK-Việt Nam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. Statistics from the General Department of Việt Nam Customs showed that total trade in goods between the two nations topped US$657.35 million in January, a year-on-year hike of 78.57 per cent. The Ministry of Industry and Trade described it as an impressive growth, particularly in the context of COVID-19. Notably, Việt Nam’s shipments to the European country hit $598.07 million, or 84.61 per cent higher than the same time last year, and 56.51 per cent higher than December 2020. Exports of agricultural products maintained stable growth in the month, with export revenue of seafood surging 18.1 per cent to $19.72 million, and fruits and vegetables rising 148.6 per cent to $1.04 million. Under the UK trade deal, tariffs levied on Vietnamese shrimp materials is reduced from 10-20 per cent to zero per cent, while more than 94 per cent of 547 tariff lines on Vietnamese fruits and vegetables will be cut to zero per cent. Experts said a wide range of Vietnamese fruits like lychee, longan, dragon fruit, pineapple and rambutan will hold more advantages to access the UK market over those from Brazil, Thailand and Malaysia who have not clinched an FTA with the European country. Việt Nam also saw strong increase in its shipments of telephone and parts (up 371.6 per cent to $252.59 million); machines, equipment and parts (up 109.9 per cent to US$74.58 million); computers and parts (up 91 per cent to $31.82 million), among others. Meanwhile, Việt Nam spent $59.297 million on imports from the UK, up 34.3 per cent year-on-year. Last year, total …

[Read more...] about UKVFTA – a boost to Việt Nam-UK trade

Vietnam agricultural products exported to Thailand have increased sharply in the first months of 2021. Dragon fruits exported to Thailand Statistics from the Department of Agro-Processing and Market Development show that total fruit and vegetable export revenue in January was USD260m, a decrease of 7.6% compared to the same period last year. China continues to be the biggest importer of Vietnamese fruit and vegetable with USD147m worth of products. The US is in second place with USD16.3m, Japan and South Korea followed with USD10.5m and USD9.2m, respectively. More notably, the total export revenue to Thailand has been on the rise. Vietnam often had an import surplus of fruit and vegetables from Thailand but the situation changed in 2020 when Vietnam exported USD157m worth of vegetables and fruits to Thailand, an increase of 209.7% compared to 2019. Vietnam imported USD78m worth of vegetables and fruits from Thailand in 2020, a huge decrease from 2019's USD487m worth of products. In December 2020, Vietnam imported USD8.5m and exported USD8.2m worth of products from Thailand. In January, Vietnam imported USD7.2m worth of products from Thailand and exported USD16.2m worth of products. The majority of the products exported to Thailand are dragon fruits, mango, longan and litchi. …

[Read more...] about Vietnam sees rising vegetables and fruit exports to Thailand