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Asia remains key export market in 2009   2010-01-27 - VietNamNet/SGT

Asia remained the key market for Vietnamese exporters, accounting for 38.7%, or US$22 billion, of the nation’s total export earnings last year.

In 2008, Vietnam’s exports to Asia reached US$23.7 billion, or 37.8% of the total export revenue. China, Japan, South Korea, Taiwan and Southeast Asia have been the largest importers in the region since 2001.

The Ministry of Industry and Trade has targeted to reach US$60.5 billion in export value in 2010, a 7% year-on-year increase. Two-way trade between Vietnam and other countries will see changes this year after the ASEAN-China Free Trade Agreement, Vietnam-Japan Economic Partnership Agreement, and other free trade deals within the ASEAN have begun to take effect.

The U.S. was the largest importer of Vietnam in 2009 with import value of US$11.2 billion while the amounts of Europe and Southeast Asia were US$9.3 billion and US$8.5 billion respectively, according to statistics of the ministry. The countries along with Japan, China, South Korea, and Australia accounted for 80% of Vietnam’s export turnover last year.

Vietnam imported over US$16 billion worth of goods from China, US$13.4 billion from Southeast Asia and US$7.3 billion from Japan last year.

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