Exports to Japan keep growing

Of the export staples, seafood posted us$ 238 million, up 3.7%.

Vietnam ’s exports to Japan still increased in the first four months of this year despite the twin natural disaster in the latter.

Statistics showed that Vietnam earned $2.8 billion from export to Japan in the four-month period, a year-on-year rise of 24.4 per cent. The value accounted for 10.2 per cent of the country’s total export turnover in the period.

Of the export staples, garment posted $464 million, up 42 per cent, and seafood, $238 million, up 3.7 per cent. Japan is currently Vietnam’s third largest garment importer, behind the US and EU.

According to Vo Thanh Ha, head of the Northeast Asia Division, the Industry and Trade Ministry’s Asia-Pacific Department, Vietnamese consumer goods, especially agro and seafood products, would see as a high degree of profits to be earned from Japan as they are affordable for the majority of middle-income Japanese earners.

Besides, Vietnam’s raw materials, such as coke, electric cables, electronic spare parts and rubber products are highly needed by Japan as it is in the process of restoring infrastructure after the March 11 disasters.

Despite growth, Vietnam’s export value accounts for only 1 per cent of Japan’s total imports, while China represents 20 per cent, Thailand , 2.9 per cent, and Malaysia , 2.8 per cent.

To better the situation, Ha suggested exporters to study carefully Japan’s requirements, especially technical standards and product quality, as well as checking goods quality following Japanese standards.

Source: Vietfish International

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