Japan is Vietnam's leading trading partner

VCN - For many years, Japan has been Vietnam's leading trade partner with bilateral turnover reaching tens of billions of USD annually.
Five export groups with turnover of billion US$ to Japan Five export groups with turnover of billion US$ to Japan
Bright prospect for Vietnam-Japan relations: Japanese scholar Bright prospect for Vietnam-Japan relations: Japanese scholar
Japan is Vietnam's leading trading partner
Chart by Thai Binh.

According to the latest preliminary statistics of the General Department of Vietnam Customs, by the end of October, Vietnam-Japan trade turnover achieved about US$37 billion. Motivated by this figure, Japan continues to remain Vietnam's 4th largest trading partner.

Vietnam's exports to Japan decreased by 4% to US$ 19.223 billion yea-on-year, accounting for 6.6% of the country's export turnover.

By the end of October, five export product groups achieved the export turnover of US$ 1 billion or more. The export turnover of textiles and garments increased of about US$ 18 million to US$3.3 billion year-on-year.

The export turnover of means of transport and spare parts reached US$2.42 billion. This is product group with the second highest export turnover and the growth of about 18%.

The export turnover of machinery, equipment, tools and spare parts reached US$2.27 billion, down about US$30 million compared to the same period last year.

Wood and wooden products gained the export turnover of about US$1.4 billion USD, down about US$150 million year-on-year. This is one of the key product groups with the sharpest decrease in the export turnover (down nearly 10%).

The export turnover of Seafood achieved about US$ 1.25 billion. However, item saw the highest plunge of US$180 million in the export turnover (about 13%).

By the end of October, many product groups exported to Japan with the turnover worth hundreds of millions of dollars such as: phones and components; plastic products; computers, electronic products and components; chemical; crude oil…

The imports from Japan reached US$17.743 billion USD, down 10.1% over the same period last year and accounting for 6.6% of the country's import turnover.

Computers, electronic products and components are the product group with the largest turnover of US$5.92 billion, down more than US$100 million year-on-year.

In addition, there are two product groups with the turnover worth "billion dollars": machinery, equipment, tools and spare parts at of US$3.3 billion, down about US$250 million compared to the same period in 2022; Iron and steel of all kinds at US$1.23 billion, down about US$270 million USD.

By the end of October, Vietnam had a trade surplus of nearly US$1.5 billion to Japan. The trade balance between Vietnam and Japan is quite balanced compared to other major partners such as China, the United States, and South Korea.

By Thai Binh/Ngoc Loan

Related News

Enterprises kick off exports in the new year

Enterprises kick off exports in the new year

VCN - Since the 10th day of the lunar calendar, many enterprises have officially resumed operations after the Tet holiday and commenced exporting goods.
Binh Duong export growth hopes to bounce back

Binh Duong export growth hopes to bounce back

VCN - Thanks to positive signals from the recovery of export orders, Binh Duong is expected to regain growth momentum in 2024.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

The Vietnam Customs Statistics announced that in the second half of December, 2023 the total Vietnam’s exports of US dollars 16.31 billion and imports of nearly US dollars 13.66 billion resulted in a trade surplus of US dollars 2.65 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of December was over US dollars 29.98 billion, down by 1.8% as compared to the first half of December-2023. Furthermore, in 2023, Vietnam was in trade surplus of USD 28.3 billion.

Latest News

Exports hit more than US$65 billion in January 2024

Exports hit more than US$65 billion in January 2024

VCN - The export turnover achieved more than US$65 billion in January 2024 and recorded impressive growth in exports and imports.
Huge potential for fruit and vegetable exports

Huge potential for fruit and vegetable exports

With robust export of fruits and vegetables, the industry has set a typical example for quick transformation in the context of economic difficulties to tap the potential and expand global reach.
Bac Lieu targets national shrimp hub status

Bac Lieu targets national shrimp hub status

With the aim of becoming a "national shrimp industry hub" and focusing on creating the "Bac Lieu clean shrimp" brand to develop a shrimp value chain, the Mekong Delta province of Bac Lieu has set developing hi-tech shrimp farming models as a primary direction.
Can Vietnam

Can Vietnam's Fisheries Pass the IUU Inspection in April 2024?

VCN - The upcoming fifth inspection by the European Commission (EC) on Illegal, Unreported, and Unregulated (IUU) fishing in Vietnam, set for April 2024, has prompted local authorities to intensify efforts to address existing challenges and limitations. They are prioritizing the execution of critical tasks and solutions from now until April 30, 2024, to meet the stringent requirements.

More News

Vietnam"s aquatic product exports expected to recover in 2024

Vietnam"s aquatic product exports expected to recover in 2024

Vietnam’s aquatic product exports in January surged 60.8% year-on-year to 730 million USD, making a positive signal for the year, according to the Ministry of Industry and Trade’s Agency of Foreign Trade.
Vietnam

Vietnam's 2 hundred billion dollar trading partners

VCN - China and the United States are our country's two largest trading partners and together have a turnover of over 100 billion USD.
Optimistic signs seen in exports of garment-textile sector

Optimistic signs seen in exports of garment-textile sector

Enjoying a rise in orders, the garment and textile sector is optimistic about the completion of its target of earning 44 billion USD in export revenue set for this year.
OCOP products bring about dual benefits

OCOP products bring about dual benefits

The One Commune One Product (OCOP) Programme has no longer been a pure poverty reduction measure for rural areas, but an important boost for Vietnamese agricultural products, connecting other industries for mutual development, thus bringing dual benefits for rural areas, according to experts.
Farm exports expect breakthrough

Farm exports expect breakthrough

Vietnam's export of agricultural products recorded impressive growth in the first month of 2024 and is expected to see a breakthrough in the whole year.
First container of Ha Giang pickled daikon in 2024 exported to Japan

First container of Ha Giang pickled daikon in 2024 exported to Japan

The first container of pickled daikon in 2024 from the northern province of Ha Giang was exported to Japan on February 19 within the cooperation in the value chain linkage between Ha Giang and the Vietnam Misaki Co., Ltd.
Rice sector works on 5 billion USD export target

Rice sector works on 5 billion USD export target

Vietnam's rice exports are expected to continue their upward trajectory this year, toward a milestone of 5 billion USD in turnover.
Semiconductor industry hoped to attract half of FDI investors in Da Nang

Semiconductor industry hoped to attract half of FDI investors in Da Nang

Some potential investors are exploring investment chances in central Da Nang city, and its Hi-Tech Park and Industrial Zones Authority (DHPIZA) hopes that 50% of those FDI businesses will invest in the local semiconductor industry this year.
Vietnam’s automobile market stands 5th in Southeast Asia

Vietnam’s automobile market stands 5th in Southeast Asia

The decline in domestic automobile consumption and its drop to 5th place in Southeast Asia can be attributed to both external and internal factors, according to industry insiders.
Read More

Your care

Latest Most read
Exports hit more than US$65 billion in January 2024

Exports hit more than US$65 billion in January 2024

The export turnover achieved more than US$65 billion in January 2024 and recorded impressive growth in exports and imports.
Binh Duong export growth hopes to bounce back

Binh Duong export growth hopes to bounce back

VCN - Thanks to positive signals from the recovery of export orders, Binh Duong is expected to regain growth momentum in 2024.
Huge potential for fruit and vegetable exports

Huge potential for fruit and vegetable exports

With robust export of fruits and vegetables, the industry has set a typical example for quick transformation in the context of economic difficulties to tap the potential and expand global reach.
Enterprises kick off exports in the new year

Enterprises kick off exports in the new year

VCN - According to Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Food JSC, the company's processing plants are currently busy processing orders and preparing for the first lunar month's exports immediately after returning to work after the lon
Bac Lieu targets national shrimp hub status

Bac Lieu targets national shrimp hub status

With the aim of becoming a "national shrimp industry hub" and focusing on creating the "Bac Lieu clean shrimp" brand to develop a shrimp value chain, the Mekong Delta province of Bac Lieu has set developing hi-tech shrimp farming models as a primary direction.
Mobile Version