Vietnam emerges as the tenth largest export market
19 Aug '08
1 min read
The Korea Trade and Investment Promotion Agency recently announced that Vietnam has emerged to be the tenth largest export market for the country.
Republic of Korea (RoK) exported goods worth US $4.5 billion to Vietnam in the first half of this year, up by 78 percent from a year earlier.
Vietnam climbed from rank 13 last year to the current ranking this year. Republic of Korea had shipped goods worth $5.8 billion to Vietnam last year.
Of the total exports, petroleum products accounted for the largest share with 30 percent which fetched $1.4 billion. Textiles, on the other hand, earned $270 million and accounted for 6 percent of the overall exports.
However, the country also imported goods worth $1 billion from Vietnam in the period under review, registering a trade surplus of $3.5 billion with the Southeast Asian country.
Considering such healthy trade relations, the two countries are likely to further strengthen their ties and consistently expand their export market share in the future.
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