AsemconnectVietnam - China and South Korea are the two leading export markets of Vietnam in the first 5 months of 2023

According to statistics of the General Department of Customs, the export turnover of Vietnamese goods to the Chinese market in May 2023 reached more than US$4.8 billion, up 35.5% over the previous month. Generally, in 5 months, it reached 20.3 billion USD, down 7.4% over the same period last year.
Meanwhile, Vietnam's goods exports to South Korea in the first five months of the year reached US$ 9.19 billion, down 10.7% over the same period last year and accounting for 6.8% of the country's total export turnover. .
Vietnam's exports of goods to China in May and the first 5 months of 2023
The export turnover of Vietnamese goods to the Chinese market in May of 2023 reached more than 4.8 billion USD, up by 35.5% over the previous month, showed the statistics figures of the General Department of Customs.
Totally, in the first 5 months of this year, the figure reached 20.3 billion USD, down by 7.4% over the same period last year.
Leading items exported to China in May and the first five months of 2023
In May of 2023, phones and components were the group of products with the largest export turnover, reaching 710 million USD, up by 37.8% over the previous month, reaching 4.7 billion USD. In the first 5 months of this year, the figure was down by 15.3%, accounting for 23.3% of export proportion.
The next was the group of computers, electronic products and components with 1.3 billion USD, up by 69.3% compared to the previous month. The figure of the first 5 months of this year reached 4.6 billion USD, down by 1.4% compared to the same period last year, accounting for 22.7% of the total export proportion.
The groups of products with export turnover growing in the first five months of 2023 compared to the same period last year were fruits and vegetables increased by 78%; rice increased by 119.1%; cashew nuts up by 49.6%; gasoline increased by 113.5%; tea increased by 58.7%.
China was the main consumption market of many export industries of our country. Therefore, the reopening of the market by China from the beginning of 2023 brings great expectations for businesses and industries, especially vegetables, seafood, fiber, cement, rubber, steel, and textiles, garment, rice, etc.
In fact, from the beginning of December of 2022, China begun to gradually relax measures to prevent and control Covid-19 and was expected to fully open the economy in the second quarter of 2023. Overall, this had a positive impact on the operations of many Vietnamese businesses.
Vietnam’s exports to South Korea in May and the first five months of 2023
The export turnover of Vietnamese goods to the South Korean market in May of 2023 reached 1.6 billion USD, down by 6.4% compared to the previous month, showed the statistics figures of the General Department of Customs.
In May of 2023 alone, the country’s exports of goods to South Korea reached 9.1 billion USD, down by 10% over the same period last year.
The item with the largest export turnover in the first 5 months of 2023 was the group of computers, electronic products and components, reaching $1.9 billion, up 23%, accounting for 20.8% of the proportion. The next was phones and components with 1.3 billion USD, accounting for 14.1% of the total proportion, down by 46.1% over the same period last year. And then were textiles with 1.1 billion USD, down by 1.7%, accounting for 12.4% of the proportion.
Some groups of products exported to Korea have increased export turnover in 5 months of 2023, such as means of transport and spare parts increased by 50.3%; cameras, camcorders and accessories increased by 46.7%; electric wires and cables increased by 26.8%; petrol and oil of all kinds increased by 50.2%; paper and paper products increased by 20.3%.
Currently, South Korea is Vietnam's third largest trading partner (after China and the United States), the total import-export turnover in 2022 between the two countries reached more than 86.5 billion USD.
The potential to develop trade between the two countries Vietnam – South Korea is huge. The bilateral free trade agreement has been contributing to further promoting political, economic and cultural relations between the two countries, further tightening the strategic cooperative partnership between Vietnam and South Korea.
CK
Source: VITIC/ haiquanonline.com.vn