VIỆT NAM-CHINA TRADE EXCEEDED $205 BILLION IN 2024

Việt Nam-China trade reached a new record of US$205.2 billion in 2024, marking a new milestone in two-way trade.

Kim Thành International Border Gate No 2 in northern province of Lào Cai. — VNA/VNS Photo

HÀ NỘI — Việt Nam-China trade reached US$19.66 billion in December 2024, according to the General Department of Customs.

Of this, Việt Nam’s exports accounted for $6.17 billion, while imports amounted to $13.49 billion.

For the entire year, bilateral trade turnover between the two countries reached a record $205.2 billion, marking a new milestone in two-way trade. This represents an increase of $33.3 billion compared to 2023.

With this result, China has become the first trading partner with which Việt Nam has established trade exceeding $200 billion.

In 2024, Việt Nam’s exports to China totalled $61.2 billion, a slight decrease of about $100 million compared to 2023. Meanwhile, imports from China surged to $144 billion, reflecting a significant increase of $33.35 billion, or 30.1 per cent, compared to the previous year.

The decline in exports coupled with a sharp rise in imports resulted in a widened trade deficit with China. In 2023, Việt Nam’s trade deficit with China was $49.3 billion, but this figure soared to $82.8 billion in 2024.

China remains Việt Nam’s largest supplier of production inputs. The variety of goods traded between the two nations spans from agricultural products to raw materials, electronics and consumer goods.

China also continues to be Việt Nam’s largest trading partner, accounting for 26 per cent of the country’s total trade turnover in 2024.

In recent years, despite a gloomy global trade environment, Việt Nam-China trade has consistently demonstrated robust growth.

Most of Việt Nam’s imports from China consist of essential goods, including machinery, equipment, tools, spare parts and raw materials for domestic production and export.

According to the Ministry of Industry and Trade, there is still significant room for growth in bilateral trade, thanks to numerous bilateral cooperation agreements and multilateral trade pacts, including the ASEAN-China Free Trade Agreement (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP).

Looking ahead, the upgrade of ACFTA is expected to boost trade and investment further. — VNS

Source: VNS

Related News

VIETNAM ECONOMY INVESTMENT

VIETNAM’S SEAFOOD EXPORTS HIT OVER US$10 BILLION IN JAN-NOV

Seafood export revenue in November alone amounted to nearly US$990 million, up 6.6% year-on-year. Key product groups posted solid gains. Shrimp exports rose 11.7% to over US$385 million, supported by strong demand for whiteleg shrimp and lobster. Tra fish shipments increased 9.7% to almost US$197 million, while marine fish, squid, and mollusk exports maintained their recovery.

Dec 11, 2025

VIETNAM ECONOMY INVESTMENT

VIETNAM’S AGRO-FORESTRY-FISHERY EXPORTS HIT NEW RECORD IN JAN-NOV

Vietnam’s agro-forestry-fishery export revenue reached an estimated US$64.01 billion in the first 11 months of 2025, up 12.6% year-on-year and surpassing the full-year record of US$62.4 billion set in 2024. Agricultural exports reached US$34.24 billion, up 15% year-on-year, while livestock products brought in US$567.4 million, a 16.8% increase. Seafood exports rose 13.2% to US$10.38 billion, and forestry products earned US$16.61 billion, up 5.9%.

Dec 11, 2025

VIETNAM ECONOMY INVESTMENT

HANOI REPORTS RECORD-HIGH BUDGET REVENUE IN 2025

Hanoi’s budget revenue is estimated to reach VND641.7 trillion in 2025, the highest level ever recorded and nearly 25% above the revised target, according to a report by the municipal government. Data from the city’s socioeconomic performance review shows that total state budget collections in 2025 are projected to reach 124.9% of the adjusted plan and rise 24.9% from 2024, the Vietnam News Agency reported.

Dec 11, 2025

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIETNAM, CHINA TO PILOT TWO-WAY CARGO TRANSPORT AT LANG SON BORDER

Vietnam and China will launch a one-year pilot program on December 10 to allow two-way cargo transport through the Huu Nghi–Youyi Guan international border gates in Lang Son Province, reported the Vietnam News Agency. The Dong Dang-Lang Son Economic Zone Management Board said the trial aims to reduce transport costs and improve customs clearance capacity.

Dec 11, 2025

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIETNAM’S IMPORT-EXPORT VALUE NEARS US$840 BILLION IN JAN-NOV

The total value of Vietnam’s imports and exports was nearly US$840 billion between January and November this year, the highest level ever recorded, according to the National Statistics Office. In its latest report on the country’s socio-economic performance, the National Statistics Office highlighted a series of positive economic indicators, with trade emerging as one of the strongest drivers of growth.

Dec 11, 2025

HOSPITALITY / TOURISM / ENTERTAINMENT

OVER 19 MILLION INTERNATIONAL VISITORS COME TO VIETNAM IN JAN-NOV

Vietnam received more than 19.1 million international visitors in the first 11 months of 2025, a 20.9% increase year-on-year and the highest level ever recorded, according to the National Statistics Office. The figure surpasses the full-year record of 18 million arrivals set in 2019, before the Covid-19 pandemic. Nearly two million foreign visitors arrived in November alone, up 14.2% from October and 15.6% from the same period last year.

Dec 11, 2025