Vietnamese exports to Japan fetch over US$16 billion in eight-month period
VOV.VN - Vietnam’s exports to the Japanese market reached more than US$16 billion during the past eight months of the year, up 4.8% against the same period from last year, according to the statistics released by the General Department of Vietnam Customs.
Strong export growth was recorded in items such as garments and textiles, with turnover of US$2.74 billion, up 6.6% on-year. This was followed by means of transport and spare parts with US$1.95 billion, up 3.2%; as well as group of machinery, equipment, tools, and spare parts with US$1.76 billion
Most notably, robust growth was also seen in the category of computers, electronic products and components, up 36.5%, coffee up 41.1%, fertilizers of all kinds, up 350.1% and glass products, up 73.3%.
Insiders pointed out that Japan represents a potential export market for local goods thanks to the preferential tariff incentives from the Free Trade Agreements (FTAs) between the two countries including the Vietnam-Japan Economic Partnership Agreement (VJEPA), the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).
However, Vietnamese export turnover to the demanding market remains modest, accounting for only 6.6% of the nation’s total export turnover last year, thereby opening up bright export prospects to the market moving forward.
