Vietnam becomes RoK's top surplus partner for first time
VOV.VN - With the Republic of Korea (RoK)’s trade surplus with Vietnam reaching US$34.26 billion, Vietnam has become the Republic of Korea’s largest trade surplus partner for the first time when the latter enjoyed a trade surplus of US$34.26 billion with the former in 2022, according to the Korean Ministry of Trade, Industry and Energy (MOTIE).
The RoK's export and import turnover to the Vietnamese market last year reached US$60.98 billion and US$26.72 billion, respectively.
A MOTIE official pointed out that among ASEAN member states, Vietnam has emerged as an attractive production base for global companies.
Furthermore, firms from the RoK have consistently poured investment into the Vietnamese market, a factor which has led to both countries becoming each other's close economic partners and turning the Southeast Asian nation into a top surplus partner of the RoK.
Besides Vietnam, the RoK has also recorded a large trade surplus with other countries, including the United States fetching US$28.04 billion, Hong Kong (China) US$25.79 billion, India US$9.98 billion, and Singapore US$9.86 billion.
Last year saw the RoK's export turnover hit a record high of US$683.9 billion, the sixth largest in the world.
However, the RoK’s imports also skyrocketed amid high energy prices caused by the impact of the Russia-Ukraine conflict, thereby making the country rack up a trade deficit of up to US$47.2 billion.
