Evolution export goods between Vietnam-Korea

Evolution export goods between Vietnam-Korea in the period 2010-2015 and updates the first 8 months of 2016.

The statistics of Vietnam Customs show that in the latest stage in 2010 – 2015, bilateral trade turnover between Vietnam and South Korea continued to achieve positive growth, from $ 12.8 billion USD in 2010, increased by 2.8 times to $ 36.55 billion in 2015.

For years, the balance of trade in goods between the two countries are always unbalanced in favor of the deficit with Vietnam. What is noteworthy is the growing deficit. Specific data as shown in Chart 1.

Chart 1: Statistics of export turnover, imports and trade balance between Vietnam and Korea, 2010-2015 and 8 months / 2016

The statistics in Table 1 below recorded in 2015 and the first 8 months of 2016, Korea’s merchandise export market of Vietnam’s No. 4, while in stark contrast, South Korea is the source 2nd largest imports from Vietnam. Thus, Korea’s overall trade partner No. 3 among the 200 countries and territories trading partner of Vietnam.

Preliminary statistics latest General Administration of Customs show that, by the end of the month 8/2016, total two-way trade turnover between Vietnam – South Korea reached $ 27.5 billion, up 14.7% compared the same period of 2015. In particular, the total value of goods Vietnam imports originating in Korea was 20.26 billion dollars, up 8.8% and Vietnam exporting goods to this market as 7, 24 billion US dollars, increased 35.1% over the same period a year earlier.

In 8 months / 2016, Vietnam mainly exports to the Korean market for goods such as phones and accessories; textile products; computers, electronic products and components; machinery, equipment, tools and accessories; Seafood…

Meanwhile, the main import commodities that Vietnam imports originating in this market include: Computer and electronic products; machinery, appliances and parts; phones and accessories, fabrics, …