According to the latest report from the General Statistics Office, Vietnam exported $55.2 billion worth of goods to China, down 0.9%, while imports from China reached $130.2 billion, up 29.7%. This brings the 11-month trade total to $185.4 billion.

On average, monthly bilateral trade between the two countries was 16.8 billion USD during this period. If this trend continues, Vietnam-China trade could reach a record $200 billion by year-end, accounting for nearly a quarter of Vietnam's total trade. This is achievable given the typical year-end surge in demand.

Agricultural products remain Vietnam’s key exports to the Chinese market. In the first 10 months of 2024, Vietnam’s agricultural exports to China totaled nearly 10 billion USD, up 11.6% year-on-year.  

Notably, during General Secretary and President To Lam's state visit to China in August 2024, Vietnam's Ministry of Agriculture and Rural Development and China’s General Administration of Customs signed three protocols, officially paving the way for exporting fresh coconuts, frozen durians, and crocodiles from Vietnam to China. These agreements, allowing the official export of agricultural products, have significantly boosted the presence of various Vietnamese goods in the Chinese market.  

To further promote bilateral trade, the Vietnam-China (Lang Son 2024) International Trade and Tourism Fair was recently held. The event served as a "bridge" for enterprises from both nations to strengthen cooperation and boost trade. It also contributed to enhancing the friendly cooperative relationship between Lang Son and Guangxi in particular and between Vietnam and China in general, across sectors such as trade, tourism, and cultural exchange.  

Speaking at the fair's opening ceremony, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that the event was an effort to enhance trade promotion activities, creating opportunities for cooperation, investment, and joint development for businesses from both countries.  

Despite the growth in bilateral trade, Vietnam currently imports significantly more from China. Speaking to Cong Thuong newspaper, Dr. Le Quoc Phuong, former Deputy Director of the Industry and Trade Information Center under the Ministry of Industry and Trade, noted that while Vietnam’s import turnover from China is relatively large, the structure of these imports mainly comprises raw materials and components for production and export, which is not overly concerning.  

He added that goods imported from China, particularly production inputs, are of good quality and competitively priced. Additionally, the geographical proximity facilitates convenient transportation, making China a priority source market for Vietnamese businesses.  

In contrast, Vietnam’s exports to China mainly consist of agricultural products, whose absolute value is lower than that of production inputs.  

In 2023, Vietnam-China trade turnover stood at 171.9 billion USD.