China remains largest trade partner of Vietnam in 6 months

HANOI - Vietnam posted $32.1 billion in trade revenue with China in the first half of 2015, registering the largest amount among other trade partners of the country, Vietnam's General Statistics Office (GSO) said on Monday.

Specifically, during the six-month period, China remained the biggest supplier of commodities for Vietnam with some 24.4 billion US dollars worth of products, up 23.9 percent year-on-year, the GSO said on its website in the June monthly report.

Meanwhile, Vietnam exported some $7.7 billion worth of products to China in the period, up 3.6 percent year-on-year, said GSO.

Vietnam mainly exports farm products to China while importing fruit and vegetable, fertilizer, machinery, phone and accessories, steel and material for garment and textile industry, among others.

In H1, Vietnam earned $77.7 billion from exports to foreign markets, said GSO, adding that the country spent $81.5 billion on imports.

Regarding Vietnam's exports of major agro-forestry-fishery products, China remained the largest consumer.

According to a report released by Vietnam's Ministry of Agriculture and Rural Development (MARD), in H1, Vietnam pocketed $1.318 billion from exporting 3.055 million tons of rice, down 10.5 percent in value and 6.2 percent in volume year-on- year.

China remained the largest importer for Vietnamese rice in the five-month period, accounting for 36 percent of the market share.

However, during the period, Vietnam's rice exports to China witnessed a decrease of 19.61 percent in volume and 22.61 percent in value year-on-year, said MARD.

In the six-month period, Vietnam shipped abroad some $614 million worth of 422,000 tons of rubber, down 5.1 percent in value and up 22.3 percent in volume year-on-year.

China, Malaysia and India remained the three largest consumers of Vietnamese rubber, accounting for 72.26 percent of the market share.

For exports of cassava and its related products, in H1, Vietnam exported 2.83 million tons of cassava, worth $844 million, up 50.5 percent in volume and 42.6 percent in value year- on-year.

China continued to be the biggest importer of the item, while accounting for 88.71 percent of the market share, up 52.08 percent in volume and 46.28 percent in value year-on-year.

During the period, exports of 150,000 tons of cashew nuts brought Vietnam $1.08 billion. China was the largest importer of Vietnamese cashew nuts, with 39.98 percent of market share, said MARD.

Concerning imports of automobiles, in H1, Vietnam imported over 56,000 completely built up (CBU) units with the greatest figure from China, said the country's Ministry of Planning and Investment (MPI).

Specifically, according to Vietnam Customs, during five-month period, Vietnam imported 13,405 CBUs from China, posting a remarkable increase of 327.32 percent compared to the same period of 2014.

Regarding foreign direct investment (FDI), during six-month period, China ranked eighth among countries, regions having FDI in Vietnam with $147.38 million in newly-registered and added capital, said MPI's Foreign Investment Agency.