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Vietnam becomes Beihai's largest ASEAN trade partner

Updated: Feb 28, 2024 Print
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The Tieshan Port in Beihai. [Photo/Beihai Daily]

The total import and export value of trade between Beihai, Guangxi Zhuang autonomous region, and Vietnam reached 59.3 billion yuan ($823.8 million) in 2023, an increase of 64.8 percent compared to 2022, making Vietnam the city's largest trading partner within ASEAN countries.

Of this total, exports amounted to 48.5 billion yuan, surging by 232.6 percent.

The trade between Beihai and Vietnam is primarily general. Last year, trade with Vietnam through general trade amounted to 53.1 billion yuan, an increase of 66.4 percent. Trade through processing trade with Vietnam amounted to 6.1 billion yuan, a 10.3 percent increase, while trade through other trade methods with Vietnam amounted to 10 million yuan.

Beihai's private enterprises engaged in trade with Vietnam totaled 54.9 billion yuan, marking a 76.7 percent growth compared to 2022 and accounting for 92.6 percent of the total trade, highlighting the significant role played by private enterprises.

In recent years, the number of enterprises engaged in bilateral trade has continued to increase, with trade volume steadily growing. Regarding the types of goods these enterprises trade, Beihai mainly imports products such as wood chips or wood particles and micro motors from Vietnam. At the same time, major exports include leather from cattle and horses, as well as unfinished plain fabrics.

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