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The main import and export markets in 2016

10:52 | 03/02/2017

VCN- According to the General Department of Vietnam Customs, by the end of 2016, the total import and export turnover reached more than $US 350.74 billion, an increase of 7.1%, equivalent to nearly $US 23.16 billion compared to the same period last year. 

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Illustrative photo.

In particular, the export value reached more than $US 176.63 billion, an increase of 9%, equivalent to nearly $US 14.62 billion and the import value reached more than $US 174.11 billion, an increase of 5.2%, equivalent to more than $US 8.54 billion.

Export markets

In 2016, the export markets of Vietnam mainly came from Asia with a turnover of more than $US 85.28 billion, accounting for 48.3% of total exports of Vietnam.

In particular, the main export markets of Vietnam included China with a turnover of more than $US 21.97 billion, an increase of 28.4% compared to the same period last year, accounting for 12.4% of total exports of Vietnam; the Japanese market with a turnover of nearly $US 14.68 billion, an increase of 3.9%, accounting for 8.3%; and the Korean market with a turnover of nearly $US 11.42 billion, an increase of 28%, accounting for 6.5%.

Vietnam exports to the US market reached more than $US 47.38 billion, accounting for 26.8% of the total exports of Vietnam.

In particular, the US was the largest export market of Vietnam with a turnover of more than $US 38.46 billion; an increase of 14.9%, accounting for 21.78%, followed by European market with a turnover of nearly $US 37.84 billion, accounting for 21.4%.

Accordingly, Vietnam exports to Europe (28 countries) reached nearly $US 33.97 billion, accounting for 19.2% of total exports and the European market was also the 2nd largest export market of Vietnam, following the US. Oceania had an export turnover of nearly $US 3.39 billion, accounting for 1.9% and Africa had an export turnover of $US 2.74 billion, accounting for 1.6%.

Import markets

In 2016, imports of Vietnam mainly came from Asia with a turnover of more than $US 140.76 billion, an increase of 4.5% compared to the same period last year, and accounted for 80.8% of total imports into Vietnam.

In particular, the largest import market was China with a turnover of nearly $US 49.93 billion, an increase of 0.9%, and accounted for 28.7%. The 2nd largest import market of Vietnam was Korea with a turnover of $US 32.03 billion, an increase of 15.9%, accounting for 18.4%, followed by Japan with a turnover of more than $US 15.03 billion, an increase of 4.7%, accounting for 8.6%.

The USA was the 2nd largest import market of Vietnam with a turnover of nearly $US 14.5 billion, an increase of 4.3% compared to the same period last year and the European market reached nearly $US 13.43 billion, an increase of 9.5%.

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In particular, Vietnam imports from Europe (28 countries) reached more than $US 11.07 billion, an increase of 6.18%, accounting for 6.4% of total imports of Vietnam.

By Bao Ha/ Hoang Anh