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.



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./.