Nearly 76.6% export turnover of Vietnam come from APEC

Export structure of Vietnam that export to APEC member countries in 10 months of 2017. Source: General Department of Vietnam Customs

According to preliminary statistics of General Department of Vietnam Customs, the total export turnover value between Vietnam and APEC members countries and territories (Asia – Pacific Economic Cooperation) till the end of 10/2017 achieved $US 265.31 billion, increased by 17.4% over the same period last year, nearly equal to the turnover of the whole year of 2016. In that, export reached $US 120.48 billion, increased by 23.9%; import reached $US 144.83 billion, increased by 22% over the same period last year.

With the above value, with just only 20 APEC partners but it accounted for nearly 76.6% of total import and export turnover of Vietnam in the same period. In terms of trade balance, in the last 10 months, Vietnam has a deficit of $US 24.36 billion, equivalent to 20.2% of export turnover to this sector.

The four biggest trade partners of our country are APEC member nations including China, Korea, USA and Japan.

In particular, the trade turnover of Vietnam-China reached $US 73.3 billion, increased by 27.2% over the same period last year and accounted for 27.6% of total bilateral trade between Vietnam and APEC members; the turnover of Vietnam – Korea reached $US 50.46 billion, increased by 41.9%, accounting for 19%; the turnover of Vietnam - USA reached $US 42.12 billion, increased by 9.7%, accounting for 15.9%; the turnover of Vietnam - Japan reached $US 27.11 billion, increased by 11.8% and accounting for 10.2%.

Structure of exports from APEC member countries in 10 months of 2017. Source: General Department of Vietnam Customs.

However, in term of exportation, the USA is the largest market with the turnover achieved by $US 34.53 billion, increased by 9.6% over the same period last year, accounting for 28.7% total turnover of Vietnam export to APEC. In the second place is China with the turnover was $US 26.47 billion, increased significantly by 52.9%, accounting for 22%; Japan is in the third place with turnover was $US 13.85 billion, increased by 16%, accounting for 11.5%; in the fourth place in Korea with $US 12.15 billion, increased by 28.6%, accounting for 10.1%.

Vietnam cargo export to APEC members are mainly phone and component; textile products; computers, electronic products, and components; machinery, equipment and spare parts; footwear; wood and wood products ...

Regarding import, China is the largest market for goods supply with the turnover of $US 46.83 billion, increased by 16.1%, accounting for 32.3%. The following places are South Korea with a turnover was $US 38.3 billion, increased sharply by 46.7%, accounting for 26.4%; Japan reached $US 13.27 billion, rose by 7.6%, accounting for 9.2%, ...

Moreover, imported goods from APEC members are mainly computers, electronic products, and components; machinery, equipment, tools, accessories; phone; fabric; steel…