Over 36% of Vietnam’s import turnover comes from China

China has shown its dominance over other countries and territories from which Vietnam imports goods.

According to the General Department of Vietnam Customs, by the end of April, Vietnam's total import turnover of goods from the Chinese market reached US$42 billion, a sharp increase of 29.9% (equivalent to an increase of US$9.67 billion) compared to the same period last year.

Notably, the Chinese market accounted for 36.5% of the country's total import turnover in the past 4 months. This number increases significantly compared to 32.5% for the same period in 2023.

By the end of April, major groups of imported goods from the Chinese market include:

Computers, electronic products and components reached US$10.1 billion, growing 52% over the same period last year; machinery, equipment, tools and spare parts reached US$8.1 billion, an increase of 27.9%; raw materials for the textile, garment, and footwear industries reached US$4.66 billion, rising 16.7%; phones of all types and components climbed by US$2.67 billion, increasing 25.1%; Iron and steel of all kinds reached US$2.36 billion, a growth of 53.1%...

South Korea is the second market where Vietnam imports most goods with a turnover of US$16.87 billion, an increase of 5.1% (equivalent to a growth of US$0.81 billion) over the same period last year.

In addition, other key markets such as ASEAN reached US$15.15 billion, an increase of 13.5%; Japan reached US$7.24 billion, rising 3.9%; Taiwan (China) reached US$6.59 billion, growing 10.9%; EU reached US$4.93 billion, climbing 9.8%...

Source: Customs News