Exports to Japan total $4 billion in seven months

03:20 PM @ Wednesday - 08 September, 2010

HA NOI — Exports to Japan in the first seven months ofthe year totalled US$4.1 billion, up 25.44 per cent over the sameperiod last year, according to the General Statistics Office.

Export turnover accounted for 10.78 per cent of the country's total export earnings in January-July.

With earnings of more than $580 million, equivalent toa 13.17 per cent year-on-year increase, garments and textiles toppedthe exports to Japan in the first seven months.

Electric lines and cables followed with $508 million, up 83.25 per cent over the same period last year.

Although earning only $30.8 million in January-July,exports of rubber saw the highest growth rate with a surge of 199.95per cent.

However, there remained seven export commodities to Japan that saw a decrease in the first seven months.

Among the commodities, exports of crude oil reduced 55and 69.8 per cent to 169,000 tonnes and $102 million in terms of volumeand value, respectively.

Exports of coffee, pottery products, precious stones, petroleum, pepper and cassava also reported reductions.

Japan mainly imports garments and textiles, rubber, mineral, seafood, and electric wire and cables from Viet Nam.

In recent years, exports of garments and textiles toJapan have risen constantly and the country is one of the three leadingexport markets for Viet Nam's garments and textiles, after the US andthe EU. Despite the impact of the global financial crisis, the garmentsand textiles sector last year earned $1 billion from exports to Japan,a year-on-year increase of 20 per cent, with the figure expected toreach $1.2 billion this year. However, deputy director of the Ministryof Industry and Trade's Multilateral Trade Policy Department Le QuangLan said that poor quality goods, inadequate information about themarket, and a lack of familiarity with the Japanese business culturewere obstacles that domestic exporters needed to overcome if theyexpect to better conquer the Japanese market.

(Source: VNS)