Vietnam’s exports to Japan have increased consistently this year, reaching a rise of 30 percent so far.
The General Department of Vietnam Customs reported that the country’s exports to the market in the past 7 months reached US$5.4 billion, accounting for 10.4 percent of the country’s total exports.
Japan currently imports many key Vietnamese products, such as rubber, minerals, garments and footwear, seafood, electric wires and cables.
In recent years, garments have represented a key export product to Japan, especially since the Vietnam-Japan Economic Partnership Agreement came into effect in October 2009.
Even though Japan has been heavily affected by tsunami and earthquake damage, Vietnam’s garment exports to the country did not fall. Export value of the product in the first 7 months hit US$859 million, up 47.2 percent, ranking third among Vietnam’s key export markets, after the US and EU.
Vietnam also exported nearly US$716 million worth of crude oil (up 6 times) and US$469 million worth of seafood (up 2.2 percent) in the review period.
The Ministry of Industry and Trade said that to promote sustainable export to Japan domestic businesses should study the Japanese market carefully and establish relations with new partners.