China maintains position as Vietnam’s largest import market

Despite the first half of the year seeing Vietnamese export turnover to China only reaching a mere US$34.8 billion, equal to a slight fall of 2.2% from the same period last year, the northern neighbour retained its place as the country’s largest import market, according to the General Statistics Office.

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The continuation of increasingly complicated developments regarding the global COVID-19 epidemic, especially among nations that are key trade partners of Vietnam, has hit the export and import turnover of many commodities, with overall import and export turnover reaching only US$ 238.4 billion, an annual fall of 2.1%.

During the reviewed period, the country recorded 22 items with an export value over US$1 billion, representing 86.2% of total export turnover. Moreover, there are four products worth more than US$10 billion, making up 52.7% of overall export turnover.

With regard to the export commodity market, the US makes up the nation’s largest export market with a turnover of US$30.3 billion, an increase of 10.3% over the corresponding period from last year, followed by China, the EU, and ASEAN.

During the past six months, import turnover was estimated to stand at US$117.17 billion, marking a drop of 3% on-year./.

VNA

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