HA NOI — Viet Nam'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 a higher demand in the outlets, according to the Ministry of Industry and Trade.
|Coal is loaded for export at Hon Net Port in the northern province of Quang Ninh. Exports to the country's major markets of Japan and China surged during the first five months of this year. — VNA/VNS Photo Ngoc Ha
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 per cent, pepper 24 per cent, crude oil 10.3 per cent and plastic materials 7.5 per cent.
The ministry reported that export value to Japan reached US$5.5 billion, up 48.1 per cent over the same period last year. Crude oil exports topped the list with an earning of $1.11 billion, a rise of more than 110 per cent year-on-year. Seafood and footwear followed with $370 million and $150 million, up 22.54 and 42.31 per cent, respectively.
Export to Japan is expected to reach $1.2 billion this month, raising the total export turnover to the market in the first half of the year to $6.7 billion. This year's export turnover to Japan is estimated at roughly $14 billion.
The ministry also reported that export earning to China in the first five months rose nearly 30 per cent against the same period last year. Computer and electronic parts contributed the most with $684.7 million, up 221.5 per cent year-on-year.
The proportion of export staples to the Chinese market during this period is not different from previous years. Agricultural, forestry and seafood products represented 35-40 per cent of Viet Nam's total export turnover to China. Export value of minerals and energy accounted for 25 per cent while industrial and processing products made up 20 per cent. — VNS