The value of trade Vietnam has with Asia-Pacific Economic Cooperation (APEC) member economies has been surging and now accounts for about three-fourths of the country’s total import-export value, according to the General Department of Vietnam Customs.
From only US$66.3 billion in 2006, Vietnam’s total trade value with APEC members more than quadrupled 10 years later to $266.4 billion in 2016.
In particular, export turnover in 2016 was recorded at $119.7 billion, an increase of 11.7% compared to 2015, while imports reached $146.7 billion, up by 6.1% from a year ago. As a result, the Southeast Asian country’s import-export turnover with APEC member economies last year accounted for nearly 76% of its total trade.
Customs statistics further show that the total value of Vietnam’s exports and imports to APEC economies in the first nine months of 2017 was $236.7 billion.
Of this figure, exports reached $106.2 billion and imports totaled $130.5 billion, creating a trade deficit for Vietnam of $24.37 billion. Correspondingly, Vietnam’s total trade value with APEC member economies in the first nine months of 2017 accounted for almost 69% of all its exports and 85% of imports.
Comprised of 21 member economies, APEC includes important trade partners for Vietnam such as the United States, Japan, South Korea, Hong Kong, Malaysia, and Singapore.
Photo: trungydang
