Imports and exports from China and Vietnam have grown steadily! Trade scale hit a record high in November

This year marks the 15th anniversary of the establishment of a comprehensive strategic partnership between China and Vietnam. In the field of trade in goods, bilateral trade between China and Vietnam continues to maintain a good momentum of development. Since 2016, Vietnam has maintained its position as China's largest trading partner in ASEAN.

Chinese customs statistics show that China-Vietnam imports and exports in the first 11 months of this year were 1.45 trillion yuan, a year-on-year increase of 3.6%. China-Vietnam trade accounted for 25% of China-ASEAN trade. Among them, China-Vietnam import and export in November was 161.92 billion yuan, a year-on-year increase of 12.5%, and the scale hit a monthly record high.

The industrial chain and supply chain cooperate closely, with trade in intermediate products accounting for nearly 70%

In recent years, the industrial and supply chain cooperation between China and Vietnam has become increasingly close. In the first 11 months of this year, the import and export of intermediate products between China and Vietnam was 1.01 trillion yuan, accounting for 69.8% of China-Vietnam trade. Among them, the import and export of flat panel display modules, audio and video equipment, and potassium battery products were 174.76 billion yuan, 65.54 billion yuan, and 19.84 billion yuan respectively, an increase of 12.3%, 17.1%, and 10.8% respectively.

We have complementary advantages in the field of agricultural products, and newly admitted products account for 30% of the agricultural products imported from Vietnam.

There is broad space for cooperation in the agricultural field between China and Vietnam, and the scale of import and export of agricultural products continues to expand. In the first 11 months, China imported 44.62 billion yuan of Vietnamese agricultural products, an increase of 20.3%. Among them, the total import of fresh durian, fresh sweet potato and bird's nest newly admitted in 2022 is 14.65 billion yuan, accounting for 32.8% of the agricultural products imported from Vietnam in the same period. At the same time, Chinese vegetables and temperate fruits are welcomed by the Vietnamese market. In the first 11 months, China exported 34.31 billion yuan of agricultural products to Vietnam, an increase of 3.1%. Among them, the exports of vegetables, citrus and fresh grapes were 6.58 billion yuan, 2.39 billion yuan and 1.3 billion yuan respectively, an increase of 12.7%, 29.1% and 1.7% respectively.

Border trade resumes rapid growth, driving overall import and export growth

The economic recovery after the COVID-19 epidemic prevention and control phase has been restored has also led to the restorative growth of border trade. In the first 11 months, China's import and export to Vietnam totaled 118.58 billion yuan in the form of small-scale border trade and cross-border trade, an increase of 35.1%, driving the growth rate of China-Vietnam import and export by 2.2 percentage points. Among them, Guangxi and Yunnan's border trade with Vietnam recovered rapidly, growing by 34.4% and 65.6% respectively.