Foreign trade focused on Asia-Pacific region

Saturday, Aug 02, 2014 14:10


Vietnamese trade with the Asia-Pacific regi on is on the rise. —  Photo

HA NOI (Biz Hub) — Trade with the Asia-Pacific region comprised 61.8 per cent of Viet Nam's total trade value in the first half of 2014, according to the Ministry of Industry and Trade.

The value of exports to Northeast Asia (excluding China), Southeast Asia and Chinese-speaking markets were US$10.2 billion, $9.4 billion and $10.6 billion, respectively.

Meanwhile, shipments to the Oceania markets, namely Australia and New Zealand, brought in a modest $1.98 billion. However, this figure represents a year-on-year rise of 21.3 per cent, the highest growth rate among the Asia-Pacific sub-regions.

On the import side, Viet Nam purchased goods worth $25.4 billion from Chinese-speaking markets during the first half of this year, up 16 per cent from last year.

The value of imports from Northeast Asia (excluding China) came second with $16.1 billion, followed by Southeast Asia, which exported goods worth $11 billion to Viet Nam in the first half of 2014.

Viet Nam's imports from these two sub-regions increased by 4.5 per cent and 4.3 per cent, respectively, compared with the first half of 2013.

During that same period, Viet Nam's imports from the Oceania markets surged by 28.9 per cent to reach $1.2 billion.

According to the ministry, Viet Nam's exports to the ASEAN region rose slightly by 3.6 per cent as shipments to major markets fell short of expectations.

Exports to Malaysia and Cambodia fell by 21 per cent and 15 per cent respectively, while shipments to Thailand recorded a small increase of 4 per cent. — VNS

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