Garment-textile was one of the commodities with the export turnover of more than 1 billion USD (Photo: VNA)
Hanoi (VNA) – Vietnam recorded atrade surplus of 930 million USD with Japan in the first eight months of 2019.
In the same period last year, Vietnam posted atrade deficit of 114 million USD with Japan.
The leading factor behind the change was thegood growth in exports to Japan at 9.3 percent, with increases recorded in theshipments of 26 out of 35 main export items.
Products with high increases included garment-textile, means oftransport and spare parts, machinery, aquatic products, wood and timberproducts, computers, electronic products and components, and footwear.
Three commodities with the export turnover of morethan 1 billion USD in the Japanese market were garment-textile (2.55 billionUSD), means of transport and spare parts (1.73 billion USD), machinery,equipment, tools and components (1.26 billion USD).
There are many reasons behind Vietnam’sincreasing exports to Japan, one of which is their membership in theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)which offers a lot of incentives, including tariff reductions.
Meanwhile, Vietnam’s imports from Japan onlyrose 0.7 percent in the period, far below the growth rate of exports.
Vietnam is expected to have a trade surplus ofover 1.4 billion USD with Japan for the whole year./.
