CHINA IMPORTS JUMP 28%, ACCOUNTING FOR OVER 40% OF VIETNAM’S TOTAL IMPORT VALUE

Chinese enterprises showcase their products at a trade fair in Vietnam - PHOTO: L.HOANG

HCMC – Despite ongoing efforts to diversify supply chains and reduce dependence on China, Vietnam’s imports from its largest trading partner continued to rise strongly in 2025, reaching more than 40% of total imports and widening the country’s trade deficit with the neighboring economy.

According to Vietnam Customs, Vietnam imported goods worth US$167.5 billion from China in the first 11 months of 2025, up 28.1% year-on-year, equivalent to an increase of US$36.79 billion. The agency estimated that full-year imports from China would exceed US$182.5 billion, rising by nearly US$39 billion from 2024.

China remained Vietnam’s largest source of imports by a wide margin, far outpacing other suppliers. Notably, China’s share of Vietnam’s total import turnover increased to nearly 41% in 2025, compared to 38% a year earlier.

Although detailed data on individual items for the full year have yet to be released, customs figures for the first 11 months showed that China led Vietnam’s imports in major categories such as computers, electronic products and components; machinery, equipment, tools and spare parts; phones and components; iron and steel; base metals and plastic materials; as well as raw materials and accessories for the textile and footwear industries, including fabrics, cotton and fibers.

In 2025, Vietnam’s exports to China were estimated at US$69 billion, up nearly US$8 billion year-on-year. However, the country still ran a trade deficit of more than US$113 billion with China.

Analysts said that apart from the difficulty in replacing Chinese supply sources, rising investment by Chinese firms in Vietnam and their expansion into domestic retail markets had also contributed to the widening trade gap.

The customs authority estimated that Vietnam’s total import-export turnover in 2025 reached US$920 billion, up 16.9% year-on-year, or US$133.07 billion. Of this, imports were estimated at US$449.41 billion, up 18%, while exports reached US$470.59 billion, up 15.9%.

Vietnam currently has trade relations with more than 230 countries and territories, including 34 export markets and 24 import markets each posting trade value of over US$1 billion.

By comparison, South Korea, Vietnam’s second-largest supplier, posted import value of around US$60 billion, roughly one-third of China’s level. Other major sources included ASEAN with US$53 billion, Taiwan with US$33 billion, Japan with US$25 billion, the United States with US$18 billion, and the EU (27 countries) with US$17 billion.

Source: The Saigon Times