Two-way trade between Vietnam and Taiwan (China) reaches nearly USD28 billion

Monday, 16/01/2023 15:38
Two-way trade with Taiwan (China) set a new record in 2022, with a total two-way import and export turnover of nearly USD28 billion, statistics from the Import-Export Department under the Ministry of Industry and Trade revealed.
 Illustrative photo

In December 2022 alone, two-way import and export reached more than USD2 billion, of which Vietnam's exports to Taiwan (China) reached USD400 million, while imports from Taiwan (China) reached USD1.62 billion.

In general, in 2022, the total two-way trade reached USD27.82 billion, an increase of USD2.42 billion compared to 2021, of which, Vietnam exported about USD5.1 billion, increased by 11%, and imported USD22.72 billion, up 9.4%. Vietnam had a large trade deficit of up to USD17.62 billion.

The main groups of Vietnam's exports to this market include computers, electronic products and components; steels; other machinery, equipment, tools and spare parts; telephones of all kinds and accessories; textiles; textile fibers and yarns of all kinds; footwear; and fruits and vegetables.

The main groups of imported goods include computers, electronic products and components; fabrics of all kinds; plastic materials; other machinery, equipment, tools and spare parts; chemicals; steels; cameras, camcorders and accessories; chemical products; materials for textile, garment, leather, shoes; and cell phones and accessories.

In 2021, Vietnam's total import-export turnover with Taiwan (China) market reached USD25.4 billion, up 20.6% compared to 2020.

Vietnam's trade deficit from Taiwan (China) market in 2021 was USD16.2 billion, up 30.7% compared to 2020.

According to the Vietnam Economic and Cultural Office in Taipei, Vietnam is Taiwan's 10th largest foreign trade partner in 2022./.

Compiled by BTA