Tuesday, September 01, 2015 - 12:51:48

Exports to Japan, China soar

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Vietnam 's export turnover to major markets of Japan and China sharply surged in the first five months of this year, thanks to the price hike of many products and higher demands in these markets, according to the Ministry of Industry and Trade.

The ministry said that average export prices of many products tended to rise significantly in the past months. Those of iron ore and other minerals surged more than 230 percent, pepper 24 percent, crude oil 10.3 percent and plastic materials 7.5 percent.

The ministry reported that export value to Japan reached 5.5 billion USD, up 48.1 percent over the same period last year. Crude oil exports topped the list with an earning of 1.11 billion USD, a rise of more than 110 percent year-on-year. Seafood and footwear followed with 370 million USD and 150 million USD, up 22.and 42.1 percent, respectively.

Export to Japan is expected to reach 1.2 billion USD this month, raising the total export turnover to the market in the first half of the year to 6.7 billion USD. This year's export turnover to Japan is estimated at roughly 14 billion USD.

The ministry also reported that export earnings to China in the first five months rose nearly 30 percent against the same period last year. Computer and electronic parts contributed the most with 684.7 million USD, up 221.5 percent year-on-year.

The structure of export staples to the Chinese market during this period is not different from previous years. Agricultural, forestry and seafood products represented 35-40 percent of Vietnam 's total export turnover to China . Export value of minerals and energy accounted for 25 percent while industrial and processing products made up 20 percent.-VNA
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