Exports to China rebounded strongly, reaching 13.7 billion USD in 3 months

Despite facing many difficulties at the land border, China tightened imports to prevent the Covid-19 epidemic, many new stricter regulations were applied to agricultural products imported from Vietnam, but the operation Exports of goods to this country in March had a strong recovery compared to the first 2 months of the year.

According to the Ministry of Industry and Trade, export turnover to China in March reached US$5.82 billion, an increase of more than US$1.8 billion compared to February.

Exports to China had a strong recovery in March, turnover increased by 1.8 billion USD compared to February 2022.

With the above results, March is the month with the largest export turnover to China in the first quarter of 2022 (January reached 3.9 billion USD).

Accumulated in the first 3 months, exports to China reached 13.7 billion USD, up 9.2% over the same period last year.

The two largest groups of exports to China in March were computers, electronic products and components; phones and components with a turnover of 1.4 and 1.46 billion USD, respectively. These results are all higher than January, February 2022 and the same period last year.

The group of fruit and vegetable products, which are mainly exported by road to China, also achieved a positive turnover of 197.3 million USD, which is also the month with the largest turnover in the first month of the year and increased by 73.3% compared to the same period last year. February 2022.

The above results are quite positive in the context that overland exports to China in the northern border area faced many difficulties in the first months of the year. This shows the solutions of the authorities, especially the efforts of the business community in changing the method of exporting goods to China.

On the import side, March was also the month when the import turnover of goods had a remarkable increase compared to previous months, reaching US$ 9.55 billion, while in February it was US$ 7.5 billion, in general. In the first three months of 2022, Vietnam spent 27.89 billion USD importing goods from China, up 14.5% over the same period in 2021.

By the end of the first quarter of 2022, our country has a trade deficit of more than 14 billion USD from this market. According to the Import and Export Department, the import of goods from China increased because businesses increased imports of raw materials and fuels to promote production recovery, in addition, the price increase of some input materials. It is also a factor that causes import turnover to increase.

The trade balance between Vietnam and China has been in a state of large trade deficit for many years. In 2021, export turnover to China will reach nearly 56 billion USD, up 14.5%, import nearly 110 billion USD, up 30.5% over the same period, trade deficit from China in the past year amounted to 54 billion USD, far exceeding the trade deficit of 35.2 billion USD in 2020.

baodautu.vn

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