The trade surplus of more than $US 370 million to Japan in early 2017

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In early 2017, exports to Japan have increased slightly and imports from Japan have decreased, which has created a trade surplus for Vietnam.

The graph shows exports and imports between Vietnam and Japan from 2012 to 2016. Unit: $US billion (blue: exports and red: imports).

According to statistics of the General Department of Vietnam Customs, by the end of January 2017, Vietnam exports to Japan reached $US 1,246 billion, an increase of $US 54 million compared to the same period in 2016, equivalent to an increase of 4.5%.

Specifically, 3 commodity groups with a turnover of more than $US 100 million included textiles with a turnover of $US 253.4 million; vehicles and spare parts with a turnover of $US 155.4 million; and machinery, equipment and tools with a turnover of $US 123.4 million.

Regarding Vietnam imports from Japan, Vietnam spent $US 875.6 million to import goods from Japan. This figure fell by $US 123.1 million compared to the same period in 2016. Of which, there were two commodity groups worth more than $US 100 million including machinery, equipment and tools with a turnover of nearly $US 241 million; and computers, electronic products and components with a turnover of $US 158.5 million.

By the end of January 2017, Japan was the third largest import market of Vietnam, followed by the US and China. Japan was also the third export market to Vietnam, followed by China and South Korea.

In 2016, the total value of exports and imports between Vietnam and Japan reached $US 29.709 billion. Specifically, Vietnam exports to Japan reached $US 14.676 billion and imports from Japan reached $US 15.033 billion. Thus, last year, Vietnam's trade deficit was $US 357 million.

Looking at the results of trade exchange between Vietnam and Japan for 5 recent years (from 2012 to 2016), Vietnam maintained a trade surplus compared to Japan in the first 3 years (2012, 2013 and 2014), but 2 years later, Vietnam had a trade deficit.

Specifically, in 2012, Vietnam had a trade surplus of $US 1.462 billion; in 2013, Vietnam had a trade surplus of $US 2.016 billion; and in 2014, Vietnam had a trade surplus of $US 1.767 billion.

In 2015, Vietnam's trade deficit was $US 218 million; and in 2016, Vietnam's trade deficit was $US 377 million compared to Japan.

By Thai Binh/ Hoang Anh

Customs News