AsemconnectVietnam - According to statistics from the General Department of Customs, Vietnam's exports of goods to Japan and South Korea, two major markets in Asia, both reached more than 18 billion USD in the first 9 months of 2024.

Vietnam's exports of goods to Japan in September and the first 9 months of 2024
According to statistics from the General Department of Customs, in September of 2024, Vietnam's export turnover to the Japanese market reached more than 1.98 billion USD, down by 12.6% compared to the previous month. In the first 9 months of 2024, it reached 18 billion USD, up by 4.6% over the same period last year.
With a population of over 126 million people, Japan is a market with a large demand for imports and consumption of products such as fish and processed fish products, shrimp, eel, meat, meat products, soybeans, cereal products, fresh and processed vegetables, coffee, etc.
Meanwhile, Vietnam is considered a country with strengths in the above-mentioned products and has the ability to supply well to the Japanese market.
Vietnam's main commodity groups exported to the Japanese market in the first 9 months of 2024
Leading the export turnover in the first 9 months of 2024 were: textiles and garments reached 3.12 billion USD, up by 6.4% over the same period last year, accounting for 17.3% of the export proportion. The next was means of transport and spare parts reached 2.18 billion USD, up by 1.97%, accounting for 12.1%. Then was the group of machinery, equipment, tools and spare parts, reaching 2.02 billion USD, accounting for 11.2% of the export proportion.
Several items achieved export turnover growth in the first 9 months of 2024 compared to the same period last year, such as computers, electronic products and components increased by 36.4%; coffee increased by 39.8%; fertilizers of all kinds increased by 305.1%; glass and glass products increased by 60.7%.
Highly appreciating the potential for trade and investment cooperation between Vietnam and Japan, especially related to agricultural products and food, according to experts from Japan, Vietnamese agricultural products and food are increasingly welcomed by Japanese consumers.
Vietnam's exports of goods to South Korea in the first 9 months of 2024
According to statistics from the General Department of Customs, Vietnam's export turnover to the South Korean market in September of 2024 reached 1.98 billion USD, down by 12.6% compared to the previous month, and in the first 9 months of 2024, it reached more than 18 billion USD, up by 4.6% over the same period last year.
Main items exported to South Korea in the first 9 months of 2024
The commodity with the largest export turnover in the first 9 months of 2024 was the textile and garment group with a value of 3.12 billion USD, up by 6.4%, accounting for 17.3% of the proportion. The next was the group of means of transport and spare parts with 2.18 billion USD, up by 1.9%, accounting for 12.1% of the proportion. The third group was the group of machinery, equipment, tools and spare parts, reaching 2.02 billion USD, accounting for 11.2% of the proportion.
Some groups of export items to South Korea have increased export turnover in the first 9 months of 2024, such as coffee increased by 39.8%; fertilizers of all kinds increased by 305.1%; glass and glass products increased by 60.7%.
The potential for trade development between Vietnam and 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 Vietnam - Korea strategic cooperative partnership.
In addition to the bilateral FTA, Vietnamese enterprises have more options when conducting import and export trade activities with Korea, thanks to the Regional Comprehensive Economic Partnership (RCEP) that took effect last year. Another FTA is the ASEAN - Korea Free Trade Agreement (AKFTA).
CK
Source: VITIC