Trade turnover between Vietnam and Japan reaches US$12.5 billion (26/02)
06/08/2010 - 19 Lượt xem
Total trade turnover between Vietnam and Japan reached US$12.5 billion in 2007, up 26.1 percent compared to 2006. Of the figure, Vietnam’s exports to Japan rose by 16.7 percent to around US$6.5 billion, while imports reached US$6 billion, up 38.2 percent.
The sharp increase in import value is due to Vietnam’s attraction of a number of Japanese projects.
Major Vietnamese export products with high value include crude oil (US$1 billion), garments (US$835 million), electric cables (US$763 million), wood products (US$229 million), coal (US$197 million), footwear (US$181 million), and plastics (US$109 million). Seafood products just only earned US$555 million from exports, accounting for 9.6 percent of the total export value and falling US$13.8 percent due to Japan’s stricter requirements for food hygiene and safety criteria and domestic businesses need time to adapt.
Vietnam’s trade surplus was more than US$500 million. Nguyen Hoai Son from the Vietnamese trade office in Japan said that export surplus will remain in the next few years. Vietnam exports agricultural products, seafood, wood products, garment, footwear, and handicrafts and imports machines, equipment, high-technology products, steel, and chemicals from Japan for its industrialisation and modernisation process.
Mr Son added that structure of export products in recent years has changed. Vietnam has exported flowers, high-graded garment products, processed food, light industrial products and ships to Japan. In addition, domestically made and added value in exported products increased.
In the future, the Vietnamese trade office in Japan will strengthen trade promotions for new products such as hot dogs and ham as well as accelerate garment, handicraft and seafood exports to Japan.
Source: VOV
