Breaking down the figure, the country's exports to China grossed US$55.2 billion, down 0.9%, while imports from the market reached US$130.2 billion, up 29.7%. Overall, the average two-way trade turnover between the two sides hit US$16.8 billion per month.
If the level of export growth momentum is maintained, then two-way trade turnover is likely to reach a record of US$200 billion this year, equivalent to nearly a quarter of the country's total import-export turnover.
At present, agricultural products represent the nation’s main export item to the Chinese market with farm produce exports of nearly US$10 billion during the 10-month period, representing an increase of 11.6% on-year.
To date, the country has had 14 agricultural products be officially exported to the Chinese market, including durian, bird's nest, sweet potato, dragon fruit, longan, rambutan, mango, jackfruit, watermelon, banana, black jelly, mangosteen, lychee, and passion fruit.
Among them, several farm produce such as durian and dragon fruit have become popular to Chinese consumers, with the import volume of these items from the Vietnamese market accounting for one-fifth of the total agricultural products imported from the ASEAN region.
Most notably, during the state visit of Party General Secretary and President To Lam to China, the Ministry of Agriculture and Rural Development, and the General Administration of Customs of China signed three important protocols on August 19, thereby paving the way for the official export of frozen durian, fresh coconut, and crocodiles to the Chinese market.
Furthermore, the recent Vietnam - China International Trade and Tourism Fair in the northern province of Lang Son has served as a bridge for businesses of the two countries to enhance trade exchange, and the friendly cooperative relationship between Lang Son and Guangxi in particular, as well as Vietnam and China in general in the fields of trade, tourism, and people-to-people exchange.
Despite the robust growth of two-way trade, Vietnam posted a trade deficit of US$75 billion with China during the 11-month period, up 67.7%.
According to GSO, total import-export turnover between both sides reached US$171.9 billion last year.
