Exports to Japanese market rise 4%
Wednesday, 28/08/2024 17:47 (GMT+7)
Export turnover of goods to the Japanese market since the beginning of the year has only increased at a low level, about 2.8% compared to the same period last year, said Mr. Tran Phu Lu, Director of the HCM City Investment and Trade Promotion Center (ITPC) at a recent meeting to export growth to Japan.
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| Photo for illustration. (Source: congthuong.vn) |
Phu said that the import-export turnover between Vietnam and Japan in the first seven months of 2024 is estimated at 25.87 billion USD, a year-on-year rise of 4%. Of which, Vietnam’s export turnover to Japan is estimated at 13.46 billion USD, a year-on-year increase of 2.8%. For Ho Chi Minh City alone, the city’s export turnover to Japan reached 1.3 billion USD, a year-on-year increase of 6%.
Vietnamese Trade Counselor in Osaka, Japan, under the Ministry of Industry and Trade Quyen Thi Thuy Ha said that Vietnamese goods groups with potential for export to the Japanese market are textiles; means of transport and spare parts; machinery, equipment, tools; wood and wood products, seafood; phones and components.
Currently, Vietnam only accounts for about 3% of Japan’s total import-export turnover, so room and opportunity still remain.
In addition, the number of Vietnamese people currently living, studying and working in Japan is about 500,000, accounting for 16% of foreigners, the second largest group, and is expected to continue to increase in the coming time.
Therefore, aiming to increase market share, Vietnamese businesses need to meet the requirements of the Japanese market. Accordingly, it is necessary to focus on ensuring high regulations and standards on product quality; aesthetic factors, convenience in packaging and design; the goal of sustainable development and environmental friendliness./.
BTA