Vietnam’s exports to South Korea totalled US$2.28 billion in October, reflecting a robust 12.51 percent increase compared to September’s figure of US$2.02 billion. The year-to-date total exports to South Korea reached approximately US$21.21 billion, highlighting South Korea’s position as a key trading partner.
Electronics and machinery
Computers, electrical products, and spare parts led exports at US$499 million, though this category saw a decline of 5.80 percent compared to September. Telephones, mobile phones, and parts surged by 36.84 percent, reaching US$303 million. Exports of machinery, equipment, tools, and instruments also performed strongly, growing by 19.95 percent to US$301 million.
Textiles, garments, and transport
Textiles and garments contributed US$349 million, increasing by 5.87 percent. Exports of other means of transportation and parts rose significantly by 17.61 percent, reaching US$124 million.
Agricultural and wood products
Fishery products experienced remarkable growth, increasing by 37.36 percent to US$79 million. Wood and wooden products also saw a substantial rise of 39.38 percent, totalling US$73 million, reflecting increased demand for these goods in South Korea.
Miscellaneous categories
Footwear exports decreased slightly by 6.68 percent, falling to US$36 million, while still image and video cameras remained stable at US$33 million with a slight decline of 0.38 percent. The “Other” category grew by 18.39 percent to US$344 million, indicating diversification in Vietnam’s export portfolio.
Outlook moving forward
The significant growth in exports to South Korea in October is driven by strong performances in telecommunications, machinery, and agricultural products. However, the decline in exports of computers and footwear highlights areas for potential improvement. Strengthening ties and exploring new opportunities in high-demand sectors will be crucial for Vietnam to sustain and expand its exports to South Korea.