Vietnam Expects US$5Bln from Exports to Japan This Year

The fast-growing country of Vietnam is forecast to reap over US$5 billion from goods exports to Japan this year, according to the Vietnam Trade Office in Japan.

 

With the expected value, Vietnam will continue maintaining trade surplus status with the foreign country thanks to its diverse export items, the office added.

 

In the first eight months of the year, the Southeast Asian nation exported around $3.6 billion worth of goods to Japan, while its spending on imports from this country had not been made available.

 

At present, crude oil, coal, plastic products, silks, rubber, coffee, electric wire, seafood, footwear, garments and textiles, woodwork products and handicrafts are key export items of Vietnam. Of these, crude oil and coal exports report high growth in both volume and value.

 

Vietnam and Japan aim to increase their bilateral trade turnover to $10 billion this year from $8.16 billion last year.

 

Bilateral ties of the two have developed fast in the fields of economics, politics, culture, education and healthcare over the past years.

 

Japan is also Vietnam’s biggest ODA provider. Japan has pledged over $835 million of ODA for Vietnam this year.