Importing goods from China across Kim Thanh International Border Gate No.II, Lao Cai. Photo: T.B

According the latest statistics from the General Department of Customs, by the end of October, the total import-export turnover between Vietnam and China reached US$167.46 billion.

The import-export turnover between the two countries reached about US$ 17 billion.

If the turnover is maintained in the last two months of the year, Vietnam-China trade will hit a new record of US$200 billion.

This is reasonable, because normally the bilateral trade between the two countries surges in the last months of the year because this is the time to prepare goods for the Lunar New Year in both Vietnam and China.

The US$200 billion milestone is also a record number of bilateral trade that the country has set with a partner.

In the past 10 months, Vietnam's exports to China gained US$ 49.94 billion, a slight increase of about US$200 million year-on-year.

Export turnover to China increased slightly, because the turnover of the two largest items as phones and components; computers, electronic products and components plunged compared to the same period last year.

Specifically, the export turnover of phones and components only reached US$12.54 billion, a decrease of more than US$700 million.

Meanwhile, computers, electronic products and components only reached US$ 9.9 billion, a decrease of 1.1 billion.

Notably, export groups in the agricultural sector have seen good growth, such as vegetables, seafood, wood and wood products, and rubber, etc.

The export turnover of vegetables and fruits reached about US$ 4.1 billion, up 28.66%, equivalent to an increase of more than US$ 900 million compared to the same period in 2023.

On the contrary, imports of goods from China in the first 10 months reached US$ 117.52 billion, soaring 31.41% year-on-year.

Over the past ten months, the country had a trade deficit of US$67.58 billion from China.