Business
Exports to RoK reach US$1.5 bln in Q1
Viet Nam’s exports to the Republic of Korea (RoK) in the first quarter of this year reached more than US$1.5 billion, according to the Viet Nam Customs.
In March alone, Viet Nam earned US$563.93 million from the RoK market, up 32.9% month on month.
Garment ranked first with total value of US$440.36 million, a year-on-year increase of 34.2%.
Garment ranked first with total value of US$440.36 million, a year-on-year increase of 34.2%.
Seafood came second with US$126.29 million, up 53.3%, showing the RoK the fourth largest importer (after the US, the EU and Japan) while Viet Nam is the third largest exporter of the product to the RoK market.
To maintain a sustainable export growth for seafood to the Asian country, the quality of the items has to be guaranteed.
The export of phones and accessories witnessed a soar of 645.4%, reaching US$103.35 million.
Other items saw remarkable surges such as footwear up 35.7%, timber up 39%, machines, equipment and spare parts up 31% and handbags, wallets, suitcases and umbrellas up 35%.
In 2013, two-way trade between the two countries obtained US$27.33 billion, up 29.4%. Viet Nam’s export and import were US$6.63 billion and US$20.7 billion, up 18.8% and 33.2%, respectively.
