China has overtaken the US to become Viet Nam’s largest importer as of January 2018, accounting for 77 per cent of the country’s export market, official statistics show. Viet Nam’s total exports value to China in January 2018 totalled nearly US$3.7 billion, up by $1.9 billion, or 106 per cent, over the same period last year, according to data from the General Department of Vietnam Customs (GDVC). This time in previous years, China’s annual imports value from Viet Nam was a mere $1.9 billion, making it the third biggest importer from Viet Nam. The main reason behind such strong bilateral trade growth is the scheduled commitments within the ASEAN-China Free Trade Area (ACFTA) framework. As of January 1, 2018, another 588 tariff lines between Viet Nam and China have been cut to zero per cent, bringing the number of eliminated tariff lines to 8,571, accounting for 90.3 per cent of total tariffs. Statistics from the General Statistics Office (GSO) show that until December 2017, the US remained Viet Nam’s largest export market, but imports from Viet Nam in January 2018 totalled $3.6 billion, having increased $624 million year-on-year. The third biggest importer for Viet Nam in January 2018 is the EU at $3 billion export value, up by 6.6 per cent from January 2017; followed by ASEAN at $1.7 billion, then Japan and South Korea at $1.5 billion and $1.3 billion, respectively. In January 2018, the highest-valued Vietnamese exports to China were mobile phone components with a turnover of nearly… [Read full story]
Vietnam asks China to step up farm imports from Vietnam Minh Duc Vietnam’s President Tran Dai Quang (R) and China’s President Xi Jinping inspect honor guards during a welcoming ceremony outside the Great Hall of the People, in Beijing, China on May 11 - PHOTO: REUTERS HANOI – Vietnam’s State President Tran Dai Quang has proposed his Chinese counterpart consider boosting imports from Vietnam, especially of farm produce, to gradually reduce Vietnam’s trade deficit with the northern neighbor. State President Quang arrived in Beijing on May 11, starting his first State visit to China until May 15 in which he…... [read more]
Exports to China obtained an impressive growth of 60.5% with an estimated value of US$629.26 million, accounting for 18.1% of Vietnam’s total shrimp export value. Meanwhile China’s shrimp imports are on a strong upward trend to meet rising consumer demands for year-end festivals, especially the Lunar New Year. The trend also pushes shrimp raw material prices up in some neighbouring countries, including Vietnam. With the move, China is likely to surpass Japan to become the second largest consumer of Vietnamese shrimp in the first quarter of next year.However, Vietnam just ranks eighth among biggest suppliers of shrimp products to China, trailed…... [read more]
The ruling by the Chinese ministry of commerce will affect about one third of the annual sugar imports into the country and impose an extra tariff for the next three years on out-of-quota shipments. China currently allows a quota of 1.94 million metric tons of imports at a tariff of 15% as part of its commitment to the World Trade Organization. It also imports an estimated additional out-of-quota three million metric tons a year for which the tariff imposed was 50%. The duty on out-of-quota sugar imports will now raise effective this year from 50% to 95%, said the ministry…... [read more]
VietNamNet Bridge - Vietnamese enterprises that export rice to China across the border have said that China, as expected, has prohibited rice imports from Vietnam through unofficial channels. However, they say this will not affect the domestic market. Hai Phong City, who collects rice from farmers to sell to Chinese businessmen, said that Vietnam's rice can be exported only through official channels, while imports that go through the border gates have been banned by the Chinese administration. According to Khanh, China has prevented the rice imports across the border in order to tighten control over tax payments made by Chinese…... [read more]
China took the lead in importing Vietnamese fruits valued at US$28.6 million between January and August, up 19.2% against the same period of last year. It was followed by South Korea, the Netherlands and Thailand. The website said Vietnam exported US$69.1 million worth of fruits in the first eight months of 2009, down 20% on year. Of the total 37 exported fruits, dragon fruit export brought in US$23.8 million, down 15.8%; coconut products, US$14.2 million, down 0.2%; pineapple, US$9.7 million, down 51.1%; and pomelo, US$718,400, down 3.9% against the Jan-Aug 2008. (www.rauhoaquavn.vn))... [read more]
