Vietnam has attained a growth of 23.8 per cent in exports to APEC economies to reach US$25.4 billion so far this year, accounting for 81 per cent of the nation’s whole figure, said the Ministry of Planning and Investment.
The above figure proves that the bloc plays a very important role in developing trade activities of the Southeast Asian country.
In the first eight months, the United States (US) remained Vietnam’s biggest export market with over US$6.8 billion, followed by Japan, nearly US$4 billion, Australia, US$1.8 billion, Singapore, US$1.5 billion, and China, over US$1.3 billion.
However, information about the country’s total import spending has not yet been made available.
2006 is seen as a bumper year for Vietnam with successfully hosting the APEC summit, nomination for non-permanent seat in the UN Security Council, and grant of trade bill for Vietnam, according to the United States Trade and Development Agency (USTDA).
Vietnam raked in over US$23.3 billion from goods exports to the APEC bloc in 2005, equaling 72.3 per cent of its total shipment value, and spent US$30.7 billion on imports from the bloc, or 83 per cent of the sum.
Founded in November 1989, APEC now has 21 member economies including Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the United States and Vietnam.
Vietnam joined the organization at the APEC Foreign-Economic Ministers Meeting in November 1998.
The group with the population of around 2.6 billion people contributes nearly 60 per cent of the world's gross domestic product (GDP), and about 47 per cent of world trade. (Investment)
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