For the first time, Vietnam and Japan trade reaches US$40 billion

VCN – 2021 marked an important milestone in bilateral trade between Vietnam and Japan, with a turnover of US$40 billion for the first time.
Sketched by T.Bình
Sketched by T.Bình

According to the latest statistics from the General Department of Vietnam Customs, in 2021, exports to Japan will reach US$20.13 billion, up 4.4% compared to 2020.

Last year, there were five groups of goods exported to Japan with a turnover of US$1 billion or more.

Textiles led with over US$3.23 billion; followed by machinery, equipment and spare parts with over US$2.56 billion; means of transport reached over US$2.47 billion; wood and wood products reached US$1.44 billion; and seafood reached US$1.33 billion.

In addition, many export items achieved high growth such as iron and steel of all kinds increased by 153.8%; plastic raw materials increased by 81.6%; crude oil exports increased by 71.8%; glass and glass products by 73.3%; chemicals increased by 41.8%; other common metals and products by 35.7%; cameras, camcorders and accessories by 32.8%; fertilizers of all kinds increased by 705.4%.

Regarding imports, in 2021, Vietnam's imports of goods from Japan reached nearly US$22.65 billion, up 11.3% compared to 2020.

Imports saw four "billion-dollar" commodity groups, including computers, electronic products and components, reaching US$6.22 billion; machinery, equipment, tools and spare parts reached US$4.45 billion; iron and steel reached US$1.73 billion; iron and steel scrap more than US$1 billion.

With US$42.7 billion, 2021 recorded a new record in the bilateral trade relationship between Vietnam and Japan when it reaches the milestone of US$40 billion or more for the first time.

However, last year also witnessed a large trade deficit of Vietnam, up to US$2.52 billion, up 138.5% compared to 2020.

Currently, Japan is Vietnam's fourth-largest trading partner after China, the US and South Korea.

By Thái Bình/Thanh Thuy

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