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Vietnam’s exports to Japan surge
The nation’s export turnover to Japan surged after falling for a year due to the global economic crisis, rising 31 percent in the first six months of this year.
According to the General Statistics Office, Vietnam earned 3.5 billion USD from its exports to Japan in the first half of the year, making up 11 percent of the country’s total export value.
Japan mainly imports rubber, mineral, seafood, wire and cables, as well as garments and textiles, from Vietnam.
In recent years, exports of garments and textiles to Japan have risen constantly and the country is one of the three leading export markets for Vietnam’s garments and textiles, after the US and the EU.
In 2009, despite the impact of the global financial crisis, the garments and textiles sector earned 1 billion USD from exports to Japan, a year-on-year increase of 20 percent and the figure is expected to reach 1.2 billion USD this year.
In the first six months of the year, the value of garments and textiles exports to Japan was 515 million USD, a year-on-year increase of 10 percent and making up 14.3 percent of the country’s total export turnover.
However, Vietnamese goods make up only 1 percent of Japan’s imports, while Chinese goods account for 20 percent, Thai, 2.9 percent and Malaysian, 2.8 percent.
The Ministry of Industry and Trade has asked enterprises to look for more partners and to stick to technical standards to meet market demands.
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