Two-way trade turnover between Vietnam and China reached over $31 billion in the first two months of this year, according to the National Statistics Office.

Vietnam’s export to China was estimated at $7.9 billion, down 2.1% year-on-year. Meanwhile, its import turnover amounted to $23.3 billion, up 20.7% year-on-year.

China is Vietnam’s largest import market and the second-largest export market. It is also the largest supplier of goods, especially raw materials for production, to Vietnam.

Vietnam-China trade reached a new record high of $205 billion last year. Of the total, Vietnam exported products worth $61.2 billion.