China remains Vietnam’s biggest trade partner

Illustrative image (Source: VNA)

Hanoi (VNA) – China remained Vietnam’s biggest trade partner in the first month of 2017, followed by the Republic of Korea (RoK) and the US, according to the General Department of Customs.

Accordingly, Vietnam’s exports to China increased by 34.4 percent while its imports from the country rose by 0.4 percent.

Vietnam’s exports to and imports from the RoK soared by 29.4 percent and 30 percent, respectively. The country’s exports to the US upped 0.3 percent while imports climbed by 14.6 percent.

Statistics released by the department showed that Vietnam’s export turnover reached 14.34 billion USD in January 2017.

Mobile phones and components were still leading export products, accounting for 16.2 percent of the total earnings. They were followed by textiles and garments with 15 percent and computers, electronics and components with 10.5 percent.

In the reviewed period, the US was the biggest importer of Vietnamese textiles and garment products, spending 1.08 billion USD, a rise of 5.8 percent year-on-year.

Vietnam’s computers, electronics and components were mainly shipped to China, raking in 365 million USD, up 1.12 percent.

Footwear exports reached about 1.17 billion USD, with the US being the biggest importer, spending 379 million USD.-VNA