According to the latest report from the Ministry of Industry and Trade (MOIT), Vietnam’s exports to China in January 2025 reached USD 4.6 billion, marking a 25.2% increase compared to the same period last year.
Exports to China stood out as a bright spot while exports to other key markets such as the EU, ASEAN, Japan, and South Korea declined by 12.6%, 14%, 8.9%, and 6.9%, respectively.
This makes China the second-largest export market for Vietnam and the only major market showing strong growthin the first month of 2025.
China – Vietnam’s Largest Import Source
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In the opposite direction, China remained Vietnam’s largest supplier, with import turnover estimated at USD 11.6 billion, a 2.2% decrease year-on-year, accounting for 38.6% of Vietnam’s total import value.
Overall, China continues to be Vietnam’s biggest trading partner, representing 26% of total bilateral trade in 2024.
Bilateral Trade Surged to a Record USD 205 Billion
Despite global trade uncertainties in recent years, Vietnam–China trade relations have grown significantly. In 2024, the two-way trade hit a record USD 205 billion, with Vietnam importing around USD 144 billion from China.
This achievement marks China as the first trading partner with whom Vietnam has established a trade scale exceeding USD 200 billion.
The traded goods between the two countries cover a wide range — from agricultural products and raw materials to electronics and consumer goods.
Strengthening Trade Promotion Efforts
Recognizing the strategic role of the Chinese market, the MOIT has intensified activities to expand exports to China.
In December 2024, the Asia–Africa Market Department led a Vietnamese business delegation to Ningbo City, Zhejiang Province, to promote Vietnamese brands and products.
The Vietnam Product Showcase at Nantang Pedestrian Street (Ningbo) attracted great attention, featuring 15 Vietnamese companies exhibiting and live-streaming their products — such as bird’s nest, coffee, cashew nuts, bánh pía, processed foods, and condiments — all warmly received by local consumers.
Future Outlook and Growth Potential
According to Mr. Nong Duc Lai, Vietnam’s Trade Counselor in China, both countries will continue to leverage geographical advantages, preferential mechanisms, and free trade agreements such as the ASEAN–China Free Trade Area (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP) to further enhance cooperation.
The upcoming upgraded ACFTA agreement is expected to boost investment and trade between the two nations even more strongly.