Viet Nam has usurped Japan for the first time to become the fourth largest importer of products from the Republic of Korea (RoK), in the first 7 months of this year.

Illustrative photo. (Photo: VNA)

According to statistics from the Korea International Trade Association (KITA) and the Korea Trade-Investment Promotion Agency (KOTRA) published on August 30, the RoK’s exports to Viet Nam reached 16.35 billion USD while the amount to Japan was worth 15.48 billion USD.

The RoK’s shipments of wireless communication device components to Viet Nam shot up by 29.9% from the same period last year. A RoK official said that exports to Japan plunged by 19.3%, spurred by Japanese yen devaluation and low oil price.

In the same period, the RoK raked in 79.13 billion USD from selling products to China, 41.92 billion USD from the US and 16.87 billion USD from Hong Kong (China).

(Source: VNA)