Vietnam–China Trade Sees Strong Growth, Trade Deficit Nears $25 Billion in Q1 2025
Vietnam’s trade with China continued its strong momentum in the first quarter of 2025, with the trade deficit reaching nearly USD 25 billion, according to data released by the General Statistics Office.
In the first three months of the year, China remained Vietnam’s largest import partner, with total import turnover hitting USD 38.1 billion. Key imports from China included machinery, industrial equipment, electronic components, raw materials for manufacturing, and consumer goods.
On the export side, Vietnam shipped USD 13.2 billion worth of goods to China during the same period. Major export categories comprised agricultural products (rice, coffee, cashew nuts, fruits), seafood, textiles, rubber, crude oil, and electronic components. Notably, Vietnamese agricultural products have continued to gain traction in the Chinese market thanks to geographic proximity and strong consumer demand. Items such as durian, dragon fruit, mango, and passion fruit have established a firm foothold and maintained robust growth through 2024.
Vietnam recorded a trade deficit of USD 24.9 billion with China in Q1 2025, a year-on-year increase of 43.3%. Bilateral trade remains vibrant, with a highly diversified structure that spans agricultural goods, industrial inputs, electronics, and consumer items. The complementary nature of the two economies has enabled both sides to leverage their comparative advantages, contributing positively to mutual economic development.
China continues to be one of Vietnam’s most significant trade partners, serving as both the second-largest export market and the leading source of imported raw materials for domestic production.
In 2024, bilateral trade between Vietnam and China reached a historic milestone, surpassing USD 200 billion for the first time and totaling a record USD 205 billion. Vietnam's exports to China stood at USD 61.2 billion, down slightly by about USD 100 million compared to 2023. Meanwhile, imports from China surged to USD 144 billion, an increase of USD 33.35 billion or 30.1% year-on-year.
To further promote economic and trade cooperation, Vietnam’s Trade Promotion Agency under the Ministry of Industry and Trade will co-host the Vietnam–China Business Networking Conference with the Chongqing Municipal Commission of Commerce on April 11 in Hanoi.
The event is part of Vietnam’s 2025 National Trade Promotion Program and aims to facilitate direct business matchmaking between Chinese enterprises and Vietnamese partners. It is expected to serve as a vital bridge for expanding market access and fostering more balanced, sustainable, and efficient bilateral trade.
The conference also offers a valuable platform for Vietnamese companies to showcase their products and brands to Chinese businesses, trade associations, and government agencies from Chongqing — a key economic hub in western China.