Twoway-trade between Vietnam and South Korea

Our statistics show that in the latest stage in 2010 – 2015, bilateral trade turnover between Vietnam and South Korea continued to achieve positive growth, from $ 12.8 billion in 2010 , up 2.8 times to $ 36.55 billion in 2015.

For years, the balance of trade in goods between the two countries are always unbalanced in favor of the deficit with Vietnam. The deficit is notably growing. Specific data as shown in Chart 1.

The statistics in Table 1 below recorded in 2015 and the first 8 months of 2016, Korea is the No. 4 merchandise export market of Vietnam, while in stark contrast, South Korea is the 2nd largest import source from Vietnam. Thus, Korea is overall No. 3 trade partner among the 200 countries and territories trading partner of Vietnam.

	2014			2015			2016
	Export	Import	Both	Export	Import	Both	Export	Import	Both
Proportion (%)	4.7	14.7	9.6	5.5	16.7	11.2	6.4	18.4	12.3
Position	4	2	3	4	2	3	4	2	3

Table 1: Density and ranking of exports, import and export turnover of Vietnam – South Korea in 2014, 2015 and 8T / 2016

The latest statistics show that, by the end of the month 8/2016, total two-way trade turnover between Vietnam – South Korea reached $ 27.5 billion, up 14.7% compared the same period of 2015. In particular, the total value of goods Vietnam imports originating in Korea was 20.26 billion dollars, up 8.8% and Vietnam exporting goods to this market as 7, 24 billion US dollars, an strong increase by 35.1% over the same period a year earlier.

In early part of 2016

In 8 months / 2016, Vietnam has mainly exported to the Korean market for goods such as phones and accessories; textile products; computers, electronic products and components; machinery, equipment, tools and accessories; Seafood…

Meanwhile, the main commodities that Vietnam imported originating in this market include: Computer and electronic products; machinery, appliances and parts; phones and accessories, fabrics, …

Author

By Bestcargo, Indochinapost, Superthon95