Vietnam-Japan trade hits 25.6 bln USD

Two –way trade between Vietnam and Japan was estimated at 25.6 billion USD in 2013, according to the General Department of Vietnam Customs.

Two –way trade between Vietnam and Japan was estimated at 25.6 billion USD in 2013, according to the General Department of Vietnam Customs.

Of the amount, Vietnam’s commodity exports to Japan reached 13.6 billion USD, a yearly rise of 4 percent, while imports from the market were valued at 11.6 billion USD, a year-on-year increase of 0.7 percent.

Vietnam’s major export commodities to Japan included garment-textile, crude oil, vehicles and accessories.

Meanwhile, the country mainly imported machinery, spare parts, computers, iron, steel, fabric and electronic products from Japan .

The Vietnam-Japan Economic Partnership Agreement, which took effect in October 2009, has facilitated the Vietnamese goods, especially farm produce, garment products, and seafood to penetrate into the Japanese market.

Japan is the biggest supplier of official development assistance (ODA) of Vietnam with 200 billion JPY each year, or 30 percent of ODA inflows in the country.

It is currently Vietnam’s biggest foreign investor, injecting 5.7 billion USD into the country in the first 11 months of 2013, accounting for 26.7 percent of Vietnam’s total foreign investment.