China remains Vietnam's largest exporter in the first half of 2018 with import turnover of US$30.2 billion, accounting for 28.9% of the latter's total import value and up 12.3% year-on-year, according to the GDVC.
Source: GDVC.
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According to the latest statistics, the import value of Vietnam's 10 most imported goods amounted to over US$76 billion or nearly 70% of Vietnam's total imports, with China being one of the main suppliers.
In the first six months, Vietnam mostly imported equipment, machinery and accessories from China worth US$5.5 billion, up 3.3% year-on-year, while the import turnover of these products from South Korea saw a slump of 41.3%.
China was also Vietnam's largest supplier of phones and their components with US$3.63 billion, contributing over 60% of Vietnam's total phone import value, and significantly higher than that of South Korea and Japan.
Additionally, Vietnam also imported computers, electronic devices and related components worth US$3.3 billion from China, up 1.9% year-on-year, while South Korea was the top exporter to Vietnam with US$8.49 billion.
China was also Vietnam's top supplier of fabric, steel, footwear and plastics, stated GDVC.
Overall, South Korea was Vietnam's second largest exporter during the January - June period with US$22.6 billion, albeit at a negative growth rate (down US$0.1 billion year-on-year), followed by ASEAN (US$15.8 billion), Japan (US$8.9 billion), EU and Taiwan (US$6.4 billion).
According to GDVC, Vietnam's total import-export revenue in the first six months hit US$225.02 billion, up 12.9% year-on-year. Of the total, the country's export turnover reached US$114.19 billion, up 16.3% year-on-year, and imports rose 9.6% to US$110.83 billion.
This resulted in a trade surplus of US$3.36 billion in the first six months, representing a significant improvement from a trade deficit of US$2.7 billion in the same period last year.
