Vietnam-South Korea Jan-Nov Trade +44 per cent On Year to US$9.2 Bln
Two-way trade between Vietnam and South Korea hit US$9.2 billion in the past eleven months of this year, a sharp on-year increase of 44 per cent, Vietnam News Agency reported.
Of the total figure, Vietnam’s exports to the foreign country reached nearly US$2 billion, soaring 49.5 per cent on-year while importing over US$7.13 billion, up 41.57 per cent.
The figures resulted in Vietnam’s huge trade deficit with South Korea of US$5.13 billion, said the VNA.
Since the establishment of Vietnam-South Korea diplomatic relations in 1992, bilateral trade ties have significantly developed with an annual average growth rate of 24.2 per cent in the 1992-2008 period.
The Southeast Asian country, however, always incurs hefty trade deficit with South Korea, accounting for between 30 per cent-45 per cent of the country’s total trade deficit.
It is forecast that bilateral trade will hit US$10 billion this year, surpassing the target set for 2010. (VNA)
Vietnamese
