AsemconnectVietnam - South Korea and Japan are two of Vietnam's leading export markets in Asia.

According to statistics from the General Department of Customs, Vietnam's exports of goods to South Korea reached more than 21.2 billion USD while exports to Japan reached more than 20.2 billion USD in the first 10 months of 2024.
Vietnam's export of goods to South Korea in October and the first 10 months of 2024
According to statistics from the General Department of Customs, Vietnam's exports of goods to the South Korean market in October of 2024 reached 2.2 billion USD, up by 12.5% over the previous month. In the first 10 months of 2024, it reached more than 21.2 billion USD, up by 7.9% over the same period last year.
The item with the largest export turnover in the first 10 months of 2024 was the group of computers, products and components with 4.5 billion USD, up by 13.4%, accounting for 21.3% of the proportion. The next was phones of all kinds and components with 2.9 billion USD, accounting for 14.1% of the export proportion.
Some groups of items exported to South Korea had increased export turnover in the 10 months of 2024, including coffee increased by 39.3%; fertilizers of all kinds increased by 192.7%; and pepper increased by 94.6%.
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 strategic cooperative partnership between Vietnam and South Korea.
In addition to bilateral FTAs, Vietnamese businesses have more options when conducting import-export trade activities with South Korea, thanks to the Regional Comprehensive Economic Partnership (RCEP) that took effect last year. Another FTA is the ASEAN-Korea Free Trade Agreement (AKFTA).
Vietnam's exports to the Japanese market in October and the first 10 months of 2024
According to statistics from the General Department of Customs, in October of 2024, Vietnam's export turnover to the Japanese market reached more than 2.2 billion USD, an increase of 12.5% over the previous month. In the first 10 months of 2024, it reached 20.2 billion USD, an increase of 5% 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 the following products: 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.
Leading the export turnover in the first 10 months of 2024 were: textiles and garments with 3.5 billion USD, up by 7% over the same period last year, accounting for 17.5% of the export proportion. The next was means of transport and spare parts with 2.4 billion USD, up by 2%, accounting for 12.1% and the group of machinery, equipment, tools and spare parts with 2.2 billion USD, accounting for 11.3% of the export proportion.
Some items with export turnover growth in the first 10 months of 2024 increased compared to the same period last year: computers, electronic products and components increased by 37.6%; coffee increased by 36.7%; fertilizers of all kinds increased by 327.9%; glass and glass products increased by 41.8%.
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.
CK
Source: VITIC