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Exports to Japan Expected to Surge Sharply

Exports to Japan Expected to Surge Sharply

Write: Vavrinec [2011-05-20]

The value of bilateral trade between the two countries reached nearly US$8.2bil last year. Vietnam's exports to Japan earned $4.56bil, an increase of 20.3% over 2004 while the country imported $3.6bil of goods from Japan, a 15,3% increase from the previous year, the office reported.

Vietnam exported fresh flowers, high-quality clothing and processed food to the Japanese market last year, in addition to traditional products including garments, seafood, crude oil, electric cables, coal, furniture, knitwear, electronic components and plastics, it said.

Although Japan tightened food safety policies on Vietnamese shrimp in late 2005, the product still accounted for 23.3% of its Vietnamese imports.

The Japanese market became Vietnam's third largest for locally-made wood products with an 8% share, after mainland China and Taiwan. Exports to Japan are expected to continue rising over the next several months in response to growing demand.

Vietnam is also stepping up exports of other products to Japan, including fresh produce, household appliances and software products.

Japan continues to export machinery and industrial equipment to Vietnam, instrumental to speeding up the nation's process of industrialisation and modernisation.

The trade office said Vietnam and Japan expect two-way trade turnover to reach $10bil this year.