China and the US continue to be two major import-export partners of Vietnam

Market Information
icon date25/07/2023

China and the US continue to be Vietnam’s major import-export partners with a huge turnover of US$109.9 billion and US$101.5 billion.

The US is Vietnam’s largest export market
The results of Vietnam’s cooperation with two import-export partners, China and the US, are not only reflected in the number of investment capital sources but also in the number of import and export turnover.
In November 2022, the US and China continued to be two of the largest import and export markets of Vietnam’s goods with an estimated turnover of more than 101.5 billion USD and 109.9 billion USD.
Economic experts highly appreciate Vietnam’s trade cooperation in the international market. More specifically, in the relationship between the two giant import-export partners, the US and China,
These are also two major import-export markets that contribute to creating the impetus for Vietnam to continue to set a new record of over $700 billion in total import-export turnover in 2022, the highest ever.
The US and China have created a sustainable and harmonious flow of Vietnamese goods both in and out. Moreover, China is also an address specializing in providing materials with reasonable prices for Vietnam to process products for consumers.
According to Mr. Vu Tuan Anh – Chairman of JIC Vietnam, the US is a strong import-export partner with great consumption power from the consumption “demand” of nearly 338.9 million US residents.
Receiving hot information from the Ministry of Agriculture and Rural Development said that recently, Vietnam has exported the first batch of pomelos to the US market. Thus, pomelo is the 7th fruit of Vietnam allowed to be exported to this market after mango, longan, litchi, dragon fruit, rambutan and breast milk.
Import-Export relationship of Vietnam – China
Vietnam and China are neighbours, despite being heavily affected by the Covid-19 epidemic, the cooperation relationship between the two countries has not decreased, continuously developed and achieved many remarkable achievements.
As Minister of Industry and Trade Nguyen Hong Dien emphasized: One of the bright spots in the bilateral relationship is that China has become the second largest export market of Vietnam with a scale of 55.9 billion USD.
China is also a major import-export partner of Vietnam with complementary nature in import-export relations. Vietnam exports to this country many tropical products, aquatic products, and garments, and also imports from China temperate agricultural materials for production.
Therefore, China and Vietnam have more opportunities to strengthen cooperation with each other because Vietnam is a dynamic economy with economic growth rate in the top of Asean, and China considers Asean as a key market.
The market provides quality raw materials for Vietnam
In trade relations, China and the United States are strong import-export partners acting as the largest market in our country. Specifically, in November, the amount of goods that Vietnam imported from these two countries totaled more than 200 billion USD.
Vietnamese goods often imported from China are electronics, computers, leather and shoes of all kinds.
Nguyen Thi Diem Hang – Vice Chairman of the Board of Directors of Vietnam Organic Nutrition Food Joint Stock Company said that China is a large and powerful market in terms of production, raw materials and consumption.
Currently, there are many raw materials, by-products and auxiliary materials for manufacturing industries from Vietnam that depend on China to implement the “Zero COVID” policy, which has pushed up the price of Vietnam’s finished products very high. Meanwhile, China has shut down the manufacturing industries that depend on this country, all of which are struggling.
Vietnam is a country with raw but very quality and effective products, but depends too much on two specific US and Chinese markets such as products: plastic/glass bottles can be made in Vietnam but lids and faucets are made in China and the US.

Through the information shared above, we once again see that China and the US continue to maintain their position as major import-export partners of Vietnam.