Vietnam’s imports from China amounted to nearly 105 billion USD, marking a 32.2% year-on-year increase. Meanwhile, exports to China totaled 44.4 billion USD, a modest rise of 2.94% compared to the same period last year.
These figures highlight a significant trade deficit of 60.4 billion USD for Vietnam. However, the Ministry of Industry and Trade notes that, most imports from China are materials used in domestic production and for export, indicating that the deficit is not a cause for concern.
Recently, China has created conditions to open its market for many Vietnamese agricultural products such as bird’s nest, fresh durian, fresh coconut and recently frozen durian.
Economic experts say that, the door to exporting Vietnamese fruits is opening wide, with many products expected to reach billions of USD in the coming years. Last year, over one year after China opened its door for Vietnam’s fresh durian, this product had an export revenue of more than 2 billion USD./.
