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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Vietnam trade with nearly 30 nations hit $147b in 2015

Wednesday, January 27, 2016 > 09:49:46
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(Vietnam News)

Of more than 200 countries and territories that Viet Nam had trade relations with last year, there were 29 countries that the country had export turnover of more than $1 billion.


The export value to the 29 countries hit $147.4 billion, accounting for nearly 90.9 per cent of the total export value of Viet Nam, according to the General Department of Customs.

The US is the largest importer of Vietnamese goods with total turnover of $33.5 billion, increasing by 16.9 per cent compared to 2014.

This is also the market in which Viet Nam recorded the largest surplus with $25.68 billion.

Key products exported to the US include textiles and garments with nearly $11 billion, a year-on-year increase of 11.7 per cent and accounting for 32.7 per cent of the country's export value to this market.

Exports of footwear ranked second with export value of over $4 billion, up 22.5 per cent; followed by computers, electronic products and components with $2.8 billion, up 33.7 per cent.

Other large export markets of Viet Nam are China and the Republic of Korea (RoK) with turnover of $16.6 billion and $8.9 billion respectively.

Exports to the Americas hit $55.4 billion, a year-on-year increase of 18.6 per cent.

Export value with Europe and Africa reached $46.6 billion and $5.1 billion, growing 9.4 and 9.8 per cent respectively.

Meanwhile, exports to Oceania decreased by 16.2 per cent to $5.79 billion.

In terms of importing, there are 19 markets that Viet Nam imported commodities from of more than $1 billion, with a total value of $150.4 billion, accounting for 90.8 per cent of the total imports of the country.

China continued to be the leading market in supplying goods for Viet Nam with an import value worth $49.5 billion, increasing 13.9 per cent compared to 2014.

Main commodities imported from China are machinery, equipment, tools and spare parts with turnover of $9 billion; telephones and accessories with $6.9 billion; fabrics with $5.2 billion and computers, electronic products and components, earning $5.2 billion.

The second largest exporter to Viet Nam is the RoK with a value totalled $27.6 billion, increasing 27 per cent compared to 2014.

Other large exporters included Japan ($14.4 billion), Taiwan ($11 billion) and Thailand ($8.3 billion).


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