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Many major agricultural products exported to China significantly declined

Summary

In contrast to the overall growth trend in Vietnam’s import and export activities to China, many major agricultural products have significantly declined.

Updated on : 16-01-2019

According to the latest Customs statistics, in 2018, Vietnam’s total export turnover to China reached US$ 41.268 billion, up US$ 5.864 billion compared to 2017 (in 2017, it reached VND 35.404 billion) with a growth rate of 16.6%.

China is one of the largest export markets, with the largest growth rate and with specific additional increases in 2018.

Notably though, many major export commodity groups, especially agricultural products have significantly declined.

Export turnover of fishery products only reached US$ 996 million, while in 2017 it was US$ 1.085 billion.

Export turnover of rice only reached US$ 683 million with the volume of nearly 1.333 million tons. In 2017, it was US$ 1.026 billion with the volume of nearly 2.288 million tons. Thus, the volume of rice exported to China in 2018 was 58.3% compared to 2017, while the export turnover only was 67.8%.

For rubber products, although the export volume significantly increased with over 1.042 million tons, the export turnover only reached US$ 1.372 billion, in 2017 it was 895,000 tons and US$ 1.444 billion respectively.

Thus, although rubber export volume to China increased by 16.4%, the turnover was only 95% (reduced 5%) compared to 2017.

Crude oil is one of the export products in the trend of declining volume and turnover with an export turnover of US$ 594 million and a volume of 1.06 million tons. In 2017, it was US$ 1.007 billion and 2.36 million tons.

Machinery, equipment, tools and other spare parts are also some of the US$-billion export commodities to China that declined. In 2018 it was US$ 1.472 billion, while it was US$ 1.574 billion in 2017.

The sharp decrease in turnover of rice, fishery products and crude oil is removed out of the list of the US$-billion export commodity groups to China.

According to the reporter, major commodity groups which have helped Vietnam to reach high export growths to China are computer, electronic products and components; telephones and accessories.

Specifically, in 2018, telephones and accessories are Vietnam’s largest export commodity group to China with a turnover of US$ 9.375 billion, up US$ 2.223 billion, equivalent to 31.1% compared to 2017.

Computers, electronic products and components with an export turnover of US $ 8,364 billion is the second largest export commodity group, with an additional increase of US $ 1,504 billion, equivalent to 21.9% of growth rate.

Other major export commodity groups to China with a turnover of US$ 1 billion or more are: Cameras, video cameras and parts with US$ 2,801 billion; Vegetables and fruits accounting for US$ 2.784 billion; Fibers and Yarns accumulating US$ 2.216 billion; Textiles and garments totalling US$ 1,541 billion; Footwears reaching US$ 1.492 billion; Wood and wooden products achieving US$ 1,072 billion.

In 2018, Vietnam only had 10 export commodity groups with turnover of US$ 1 billion or more to China, decreasing by 3 commodity groups compared to 2017.

Source: Customs News