Trade exchange with leading economies in the world in 4 months
Tuesday, May 30,2017
AsemconnectVietnam - In the first four months of this year, the bilateral trade exchange between Vietnam and the leading economies in the world such as the U.S, China and Japan saw positive growth.
US – biggest export market of Vietnam
The U.S was still the biggest export market of Vietnam and the second biggest trade partner of Vietnam after China.
In the first four months of this year, the bilateral trade exchange between Vietnam and the U.S reached nearly US$ 15.5 billion, increased by 11 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
Of the figure, the country exported $ 12.4 billion worth of goods to and imported over $ 3 billion worth of goods from the U.S, up by nearly 8.7 per cent and 22 per cent, respectively over the same period of 2016. So the country got $ 9.4 billion of surplus in trade exchange with the U.S.
The U.S was still the biggest export market of Vietnam and the second biggest trade partner of Vietnam after China.
Textiles and garments were leading the list of items exported by the country to the U.S in the first four months of this year with the export turnover of $ 3.6 billion, up by 7 per cent year – on – year and accounted for over 29 per cent of the total and accounted for 49 per cent of the total.
The followings were footwear with $ 1.5 billion, up by 13.9 per cent; cell phones and accessories - $ 1.4 billion, down by 5 per cent year – on – year.
In the reviewed period, the country’s exports of animal feed and materials to the U.S increased sharply by 78 per cent to $ 7.2 million; rubber – up by 78 per cent to $ 17 million; coffee – up by 43.7 per cent to $ 206 million.
However, the country’s exports of precious stones, metals and products to the U.S decreased by 36.3 per cent and the exports of pepper to the U.S decreased by 36.6 per cent.
China – the second biggest export market and the biggest import market of Vietnam
China was the second biggest export market of Vietnam. In the first four months of this year, Vietnam exported US$ 8.3 billion worth of goods to China, increased sharply by 40.95 per cent over the same period last year and accounted for 13.4 per cent of the total.
China is now the leading trade, tourism and investment partner of Vietnam. In the first four months of this year, Vietnam exported over 40 groups of items to China, leading by electronic products and components with the export turnover of nearly $ 1.8 billion, up by 109.8 per cent and accounted for 21.5 per cent of the total. It was followed by fruit and vegetables with $ 759.1 million, up by 39.97 per cent; and then fibers of all kinds with $ 592.7 million, up by 30.29 per cent.
In the reviewed period, the country’s exports of paper and products to China rocketed by 500.69 per cent; iron and steel of all kinds – rose sharply by 399.77 per cent.
China is the second biggest export market of Vietnam and it is also our biggest import market.
In the first four months of this year, Vietnam imported over US$ 17 billion from China, up by 16.09 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
Vietnam imported 45 items from China, leading by machines, equipment and spare parts with the import value of $ 3.3 billion, up by 29.6 per cent year – on – year and accounted for 19.7 per cent of the total. It was followed by cell phones and accessories with $ 2.1 billion, up by 6.28 per cent; and computers, electronics and components with over $ 2 billion, up by 25.84 per cent.
Exports to Japan increased 17% in 4 months
Textiles and garments were leading the list of items exported by Vietnam to Japan in the first four months of this year with US$ 935.9 million, up by 10.7 per cent over the same period last year.
Vietnam exported US$ 5.1 billion worth of goods to Japan in the first four months of this year, increased by over 17 per cent over the same period of 2016, showed the statistics figures of the General Department of Customs.
Textiles and garments were the biggest item exported by the country to Japan in the period with the export turnover of $ 935.9 million, up by 10.7 per cent year – on – year and accounted for 18.5 per cent of the total. It was followed by means of transport and spare parts with $ 660.7 million; machines, equipment and spare parts - $ 542.9 million, up by 16.5 per cent; seafood - $ 359.6 million; and wood and furniture - $ 342.7 million.
In the first four months of this year, the country’s exports of coal to Japan rocketed by 26 times or 2.488 per cent to $ 35.4 million; while the exports of crude oil – up by 411 per cent; iron and steel – up by 170 per cent; rubber – up by 70 per cent; fibers of all kinds – up by 62.7 per cent; cell phones and accessories – up by 67.8 per cent.
However, the country’s exports of cassava and products to Japan decreased sharply by 90.6 per cent; pepper – down by 29 per cent; animal feed and materials – down by 29.6 per cent.
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Source: VITIC
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