According to statistics from the General Department of Customs, export sales of Vietnamese goods to the Chinese market reached more than USD 35.6 billion in the first eight months of 2022, up 6.7% from the same period last year.

Phones and components are the group of items with the largest export sales to China, reaching US$8.9 billion, up 11.3% from the same period last year, accounting for 25.1% of the export share.

Next is the group of computers, electronic products and components with USD 7.6 billion, up 15.9% and accounting for 21.6% of the export share.

Product groups with increasing export sales in the first eight months of 2022 compared to the same period last year: cameras, camcorders and components increased by 54.2%; Aquatic products increased 82.7%; Feed and raw materials increased by 24.7%.

China is also a market that consumes many of Vietnam’s agricultural products, especially aquatic products, vegetables and fruits; cashew; the coffee; Tea; Rice; cassava and cassava products; Rubber, rubber products…

China has always been the largest import market for Vietnamese goods. In the first eight months of 2022, imports from China accounted for 33.1% of total import sales from Vietnam’s markets, and it is forecast to account for 33.4% in 2022. This is an increased proportion and much larger than that of the second largest markets or less (such as Korea, Japan, Taiwan, the United States, Thailand, …).

14 major products imported from China (over USD 1 billion). The largest are computers, electronic products and components; other machinery, equipment, tools and spare parts; Material; phones and components; Iron and Steel; Plastics and chemical products; Textile raw materials, shoes; Power cord and cable…

Among these items, there are items that make up a large part of Vietnam’s imports, such as machinery, equipment, tools, other spare parts, and fabrics.

According to the Ministry of Industry and Trade, Vietnam still has a lot of room to tap into the Chinese market. With a population of more than 1.4 billion people, accounting for 18.7% of the total world population, the need to import commodities, especially agricultural and aquatic products, from the Chinese market to meet the needs of domestic consumption is the most important largest market in the world as well as the production and processing of export goods is very large and diversified.

Notably, only two places bordering Vietnam, Yunnan Province (population 48.0 million) and Guangxi Zhuang Autonomous Region (population 48.8 million), present direct opportunities for the Vietnamese community. Vietnam leverages cross-border trade.

Also, Vietnam – China has a long border, which creates advantages in logistics and long-standing trade practices. So far, the entire northern border line has 76 border gates and openings, including: 7 international border gates, 6 main border gates, 21 auxiliary border gates, and 42 openings and customs clearance points. This system brings great advantages in logistics for trade activities between Vietnam and China.