Vietnam Customs announced that bilateral trade between Vietnam and China reached $205.2 billion in 2024, marking a historic high.

This data represents an increase of $33.3 billion compared to that in 2023, making China Vietnam's first trading partner with a trade value exceeding $200 billion.

Vietnam's exports to China amounted to approximately $61.2 billion in 2024, a decrease of around $1 billion compared to 2023. Meanwhile, imports from China totaled $144 billion, an increase of $33.5 billion from the previous year, representing a growth rate of 30.1 percent.

The trade deficit with China stood at $82.8 billion in 2024, compared to $49.3 billion in 2023, solidifying China's position as Vietnam's largest supplier of production materials and top trading partner, accounting for 26 percent of Vietnam's total imports and exports.

The majority of goods Vietnam imports from China are essential items, including machinery, equipment, tools, components, and raw materials used for domestic production and exports.