Total trade turnover between Vietnam and Japan over the first eleven months this year reached more than US$22.9 billion, a year-on-year rise of 1.7 percent, according to the General Department of Vietnam Customs.
Of this, Vietnam’s commodity exports to Japan hit US$12.3 billion, up 3.5 percent, while imports from the market were valued at US$10.5 billion, down 0.3 percent.
Vietnam’s major export commodities to Japan from the start of the year to November were garments, crude oil, transport vehicles and accessories, machinery, equipment, devices and spare parts, seafood products, wood and wooden products, products from plastics, computer, electronic products and components.
During the period, Vietnam mainly imported machinery, equipment, devices and spare parts, computer, electronic products and components, iron and steel, materials for garments and footwear and products from plastics from Japan. Import turnover of these commodities reached US$7.62 billion, 73 percent of the country’s total from Japan.
The general department reported that the bilateral trade achieved an average annual growth rate of 17 percent during the 2005-2012 period. In 2012, trade turnover between the two countries posted US$24.7 billion with a growth rate of 16 percent, lower than the average rate of the 2005-2012 period.
In recent years, Vietnam’s trade balance with Japan always saw trade surplus. Vietnam’s excess of imports over exports to Japan hit US$0.4 billion in 2011, US$1.5 billion in 2012, and US$1.8 billion during the Jan-Nov period of 2013.
Japan is always an important trade market of Vietnam. As of November 2013, Vietnam-Japan bilateral trade turnover ranked fourth among all markets with which Vietnam exported and imported commodities.
CPV
Vietnamese
