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Sunday, June 23, 2024

Vietnam-China trade grows strongly in 2021

The Saigon Times

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HCMC – Although the Covid-19 pandemic negatively affected global trade last year, two-way trade between Vietnam and China grew steadily and strongly, according to Nong Duc Lai, Commercial Counselor of the Embassy of Vietnam in China.

Data of the General Department of Vietnam Customs showed that two-way trade between the two countries reached US$165.8 billion in 2021, soaring 24.6% year-on-year.

China continued to be Vietnam’s biggest trade partner and second biggest importer of Vietnamese goods in the world.

On the other hand, Vietnam was China’s biggest trade partner among the Association of South East Asian Nations and its sixth largest trade partner globally, after the United States, Japan, South Korea, Germany and Australia. 

These figures reflect the stability and efficiency of trade activities between the two countries despite numerous difficulties caused by the Covid-19 pandemic, such as stringent social distancing measures, travel and transport restrictions, disruptions in the supply chain and ailing consumer demand. 

Ministries and departments of both countries have worked closely together to make the most of their trade advantages, resolve shortcomings and overcome difficulties, helping two-way trade rise amid the pandemic. 

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