Vietnam&39;s total exports and imports with China reached nearly US$87.3 billion by the end of June 2022. China is Vietnam&39;s largest trading partner in recent years.

　　In the past six months, Vietnam&39;s export turnover reached US$26.17 billion, up 6.6% (equivalent to about US$1.6 billion) compared to the same period in 2021. Meanwhile, Vietnam imported $61.12 billion from China, up 14.63 percent (equivalent to about $7.8 billion), with the scale and growth rate of imports larger than exports, leading to an increase in Vietnam&39;s trade deficit with China from nearly $29 billion in the first six months of 2021 to about $35 billion in the first half of this year.

　　According to the latest report from the General Administration of Vietnam Customs Import and Export, in June this year, raw materials and auxiliary materials (including: cotton, textile fibers, fabrics, etc.) for the textile, garment, leather and footwear industries reached $2.4 billion, down 16.1% (equivalent to $461 million) from a year earlier.

　　Overall, in the first six months of this year, the textile, apparel and footwear industry imported raw materials and accessories 14.71 billion U.S. dollars, an increase of 8.7% (equivalent to 1.17 billion U.S. dollars). Among them, the largest transaction value of various types of fabrics reached $ 7.95 billion, an increase of 9%; textiles, leather and footwear raw materials amounted to $ 3.52 billion, an increase of 5.5%; various types of cotton 1.83 billion, an increase of 15.5%; various types of textile fibers 1.41 billion, an increase of 6.4%.

　　In the first six months of 2022, China is the largest textile and footwear raw material supply market in Vietnam, accounting for 53%, with a total transaction value of $7.76 billion, an increase of 11. 7% over the same period in 2021. This is followed by the Chinese and Taiwanese markets: $1.4 billion in Taiwan, up 6%; $1.3 billion in South Korea, up 1.9%; and $961 million in the United States, up 0.4%.

　　In 2021, total imports of this category will reach $26.37 billion, an increase of22.4%, equivalent to an increase of $4.83 billion compared to 2020. Last year, Vietnam&39;s main import markets came from China, South Korea, Taiwan, the United States and ASEAN countries.

　　These five key markets alone amounted to $21.44 billion, accounting for 81% of the country&39;s total imports of textiles, leather and footwear in 2021.

　　Translated with www.DeepL.com/Translator (free version)