According to preliminary statistics from Vietnam Customs, two-way trade revenue between Vietnam and China reached US$133.09 billion in 2020, up 13.8% on2019 despite the negative economic effects of the COVID-19 pandemic.
Vietnam posted export revenue from China of US$48.9 billion in 2020, up 17.9%, and import revenue of US$84.1 billion, up 11.5% over the same period in 2019. Thus, Vietnam suffered a trade deficit of US$35.2 billion, an increase of 3.74% against 2019.
The main growth driver of Vietnam-China trade in 2020 is the growth of manufacturing and processing goods with revenue of US$37.07 billion, up 20.06% and construction materials with revenue of US$3.12 billion, up 104.09%.
However, several traditional Vietnamese goods faced difficulties in their export activities to China including agricultural and aquatic products with export revenue of US$6.8 billion in 2020, down 3.3% compared to 2019.
According to statistics from China Customs, Vietnam is the eighth largest commodity supply market and the fifth largest export market of China.