Trade
China Exports More to Vietnam Than Japan for First Time as Supply Chains Shift
- Shipments to Vietnam jump almost 18% to record $162 billion
- Firms seek new suppliers while relying on China’s components
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Vietnam overtook Japan as China’s third-largest export destination for the first time, as US tariffs force companies to find new suppliers to avoid levies while continuing to rely on Chinese manufacturers for components.
China’s exports to Vietnam in 2024 rose almost 18% to a record $162 billion, according to data released by China’s customs administration on Monday. That surpassed the $152 billion in shipments to Japan, previously the third-largest market for Chinese exporters.