Vietnam-Japan Trade Reaches US$8.14Bln in Jan-October

Two-way trade between Vietnam and Japan increased to US$8.14 billion in the past ten months of this year, up 24.1 per cent on-year, according to the Vietnam Trade Office in Japan.

 

The figure nearly equals the entire 2005 bilateral trade of US$8.16 billion, the office said.

 

Of the sum, Vietnam earned $4.62 billion from exports to the foreign country, up 26.5 per cent on-year. The high growth mainly resulted from strong increases in export values of staples such as seafood, crude oil, electronic products, electrical wires and cables. 

 

Exports to Japan have continued rising in recent years, boosting the market share of Vietnamese products in the country to nearly 1 per cent, added the office.

 

Vietnam exports 25 products to Japan, key items being crude oil, coal, plastic products, silks, rubber, coffee, electric wires, seafood, footwear, garments and textiles, woodwork products and handicrafts. Japan is now Vietnam’s biggest export market after the United States.

 

Bilateral trade this year is estimated to rise to $10 billion, including $5.7 billion worth of Vietnam’s goods shipment. The figure means that Vietnam will maintain a trade surplus status with the foreign country. The two countries are striving to expand the bilateral trade to $17 billion in 2010.

Youth, Vietnam Economic Times