July alone witnessed the export turnover of Vietnamese goods to the Chinese market reach more than US$4.56 billion, a decline of 18.4% compared to the previous month, according to statistics compiled by the General Department of Vietnam Customs.
Vietnamese exports to the northern neighbour during the seven-month period rose by 2.4% to US$30.8 billion against the same period from last year, whilst China is also the country’s rare export market that witnessed positive growth in the reviewed period
The nation’s key export items to China include computers, electronic products and components with turnover reaching US$7.5 billion, representing a rise of 13.6%, and accounting for 24.4% of the overall export proportion, followed by phones and components with more than US$7.1 billion, whilst footwear reached US$1.02 billion.
High export turnover throughout the reviewed period was recorded in categories such as fruit and vegetables, up 128.5%; rice, up 70.3%; cashew nuts, up 33.3%; paper products, up 100.1%; gasoline, up by 48%; and coal of all kinds, up 159.3%.
Several groups of goods experiencing a downward trend include machinery, equipment and spare parts, down 5.7%; photographic garments and camcorders, down 17%; timber and wood products, down 25%; aquatic products, down 19.3%; textile and garment, down 7.17%.
According to experts, China’s recent reopening since the beginning of the year is expected to create a wealth of opportunities ahead for local businesses, especially those operating in the fruit and vegetables, seafood, fiber, cement, rubber, steel, along with the garment and textile sector.
With regard to export prospects over the remaining months of the year, insiders pointed out that favourable customs clearance at the Vietnam - China border gates coupled with rising consumer demand from the Chinese market will exert a positive impact on export activities moving forward.
