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Vietnam-ASEM import-export revenue could reach US$107 bn
Import-export revenue between Vietnam and members of the Asia-Europe Meeting (ASEM) hit US$22 billion in the first quarter, a year on year increase of 9.2 percent.
According to the Vietnam Customs, total imports-exports earnings between Vietnam and ASEM could hit US$107 billion if the country could maintain the import and export growth of 28 percent in the 2005-2008 period.
However, the figure may stay at US$99 billion if the export growth rate can only stand at 18 percent.
Last year, Vietnam had 11 export partners and 9 import partners with revenue of US$1 billion each.
Markets with more than US$1 billion revenue accounted for 80 percent of the total export value and nearly 90 percent of the total import value.
More than 80 percent of the country’s exports to ASEM were to China, Thailand, Singapore, Japan, Malaysia, the Republic of Korea, Indonesia, Germany and India.
With a total import revenue of US$6.29 billion, Japan was the country’s largest import partner, followed by China with US$4.9 billion and Singapore with US$2.08 billion.
China, the Republic of Korea and Japan were the largest exporters, taking nearly 60 percent of Vietnam’s total import value from the bloc.
The country imported mainly machinery, parts, gas and petroleum, computers, electronic parts, materials for the footwear industry, automobile parts for manufactures, chemicals and plastics. They all accounted for nearly 70 percent of Vietnam’s total import value from around the globe.
More than 70 percent of Vietnam’s total export earnings came from crude oil, garments and textiles, seafood, footwear, computers, electronic parts, machines, rice, coal, coffee and wood.
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