The Brief Overview of the Vietnam’s Export Trade Relationship With China in 2024

The increasing bilateral trade relationship between Vietnam and China has been a crucial contributor towards the revolutionary increase in the trade rates of both nations. Both countries being one of the most rapidly evolving economies of Asia have now been trading their domestic and international acquisitions with each other with favorable pricing ranges countering the annual valuations. In 2020 Vietnam exported goods worth 46 billion US dollars to China; which is around 16% of the total exports of the nation representing a significant hike from the previous year.

Due to the growing dependency of China’s middle-class population on Vietnam’s exports, the affordable pricing strategies offered by the trade firms have indulged Vietnam’s export goods worth 80 billion US dollars in 2024. Import Globals with its Vietnam trade data highlights the categorized supplies of the trade firms towards China as per the growing acquisitions for maintaining stability in the bilateral trade: this helps the business holders get into the roots of the potential trade strategies that help in recording a positive outgrowth in future trade aspects.

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TOP 10 EXPORTED GOODS OF VIETNAM TO CHINA IN 2024

To maintain the stability in the bilateral trade rate and to fulfill the acquired acquisitions from China towards trade firms of Vietnam; The nation has introduced divergent variants of its production in the supplies towards China. According to the Vietnam Export Data; the top 10 exported goods of Vietnam to China in 2024 are,

  1. Electronic equipment — The export trade value of Electronic equipment from Vietnam to China in 2024–43 billion US dollars
  2. Textile materials — The export trade value of Textile materials from Vietnam to China in 2024–32 billion US dollars
  3. Footwear — The export trade value of Footwear from Vietnam to China in 2024–18 billion US dollars
  4. Machinery and mechanical appliances– The export trade value of Machinery and mechanical appliances from Vietnam to China in 2024–12 billion US dollars
  5. Iron and steel products — The export trade value of Iron and steel products from Vietnam to China in 2024–8 billion US dollars
  6. Plastics — The export trade value of Plastics from Vietnam to China in 2024–7 billion US dollars
  7. Wood and wood products — The export trade value of Wood and wood products from Vietnam to China in 2024–6 billion US dollars
  8. Seafood– The export trade value of Seafood from Vietnam to China in 2024–5 billion US dollars
  9. Rubber — The export trade value of Rubber from Vietnam to China in 2024–4 billion US dollars
  10. Coffee — The export trade value of Coffee from Vietnam to China in 2024–3 billion US dollars

THE TOP 10 EXPORTING COMPANIES OF VIETNAM THAT DRIVE EXPORTS TO CHINA IN 2024

The manufacturing units of a nation properly control the overall supplies towards leading trade destination estates countering the annual valuations. According to the Vietnam Customs Data, the top 10 exporting companies of the nation that drive exports towards China in 2024 are,

  1. Samsung Electronics Vietnam Co., Ltd. — Total value of the goods exported from Samsung Electronics Vietnam Co., Ltd. to China in 2024–48 billion US dollars

TOP EXPORTED GOODS

a. Mobile Phones

b. Electronic Parts

c. Televisions

d. Galaxy Buds

e. Laptop and Computer Components

2. Petro Vietnam — Total value of the goods exported from Petro Vietnam to China in 2024–32 billion US dollars

TOP EXPORTED GOODS

a. Crude Oil

b. Refined Petroleum Products

c. Coal

d. Liquefied Natural Gas (LNG)

e. Fertilizers

3. Vingroup Joint Stock Company– Total value of the goods exported from Vingroup Joint Stock Company to China in 2024–27 billion US dollars

TOP EXPORTED GOODS

a. Electronic Products

b. Agricultural Products

c. Textiles and Garments

d. Footwear

e. Furniture

4. Viettel Group — Total value of the goods exported from Viettel Group to China in 2024–22 billion US dollars

TOP EXPORTED GOODS

a. Mobile Phones and Accessories

b. Telecommunication Equipment

c. Electronic Components

d. Fiber Optic Cables

e. Software Development and IT Services

5. Vietnam National Coal — Total value of the goods exported from Vietnam National Coal to China in 2024–17 billion US dollars

TOP EXPORTED GOODS

a. Anthracite Coal

b. Coking Coal

c. Lignite Coal

d. Bituminous Coal

e. Sub-Bituminous Coal

6. Transtech Engineering Corporation– Total value of the goods exported from Transtech Engineering Corporation to China in 2024–15 billion US dollars

TOP EXPORTED GOODS

a. Machinery

b. Spare Parts

c. Electronic components

d. Chemicals

e. Metal Products

7. Trung Nguyen Group Corporation– Total value of the goods exported from Trung Nguyen Group Corporation to China in 2024–14 billion US dollars

TOP EXPORTED GOODS

a. Coffee Beans

b. Instant Coffee

c. Tea Products

d. Packaged Foods

e. Non-food Products

8. Vingroup JSC– Total value of the goods exported from Vingroup JSC to China in 2024–12 billion US dollars

TOP EXPORTED GOODS

a. Electronics and Electrical Equipment

b. Textiles

c. Agricultural Products

d. Chemicals

e. Furniture

9. Vietnam Dairy Products Joint Stock Company– Total value of the goods exported from Vietnam Dairy Products Joint Stock Company to China in 2024–9 billion US dollars

TOP EXPORTED GOODS

a. Milk Powder

b. Condensed Milk

c. Yogurt

d. Cheese

e. Fresh Milk

10. Hoa Phat Group Joint Stock Company– Total value of the goods exported from Hoa Phat Group Joint Stock Company to China in 2024–8 billion US dollars

TOP EXPORTED GOODS

a. Steel Products

b. Construction Materials

c. Agricultural Products

d. Consumer Goods

e. Industrial Machinery and Equipment

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