Asia leads Hai Phong’s export market

According to the Hai Phong Department of Industry and Trade, Asia is currently the largest export market of the city, accounting for more than 84.5% of its total export turnover. The city’s major Asian export markets are South Korea, Japan, and China’s Hong Kong and Taiwan.

Asia holds a large share in Hai Phong’s export structure as most of these countries and territories are geographically close, enabling convenient sea transport via the city’s port system. In addition, Hai Phong’s export product structure matches the needs of many regional partners.

The city is also home to many Asian-invested enterprises, particularly from South Korea and Japan. As a result, the demand for these companies to export goods back to their home countries is considerable.

Outside Asia, the Americas account for around 7.6% of Hai Phong’s total export turnover, with the US alone making up 6.76%. Europe follows, with nearly 4.83%.

In the first seven months of this year, Hai Phong’s total export turnover exceeded 27 billion USD, up 6.69% year-on-year.

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