Business

Exports to US experience a boost

Vietnam earned over 6.15 billion USD from exports of goods to the US in the first five months of the year, an increase of 22.5 percent over the same period last year.
Vietnam earned over 6.15 billion USD from exports of goods to theUS in the first five months of the year, an increase of 22.5 percentover the same period last year.

In a freshly released report, theGeneral Department of Vietnam Customs said that with this achievement,the US continued its role as Vietnam ’s largest market for exports,making up 17.7 percent of Vietnam ’s total export turnover.

Thefive-month export value also saw Vietnam surpass the Philippinesand Indonesia on the list of ASEAN exporters to the US .

Vietnam has also caught up with Malaysia , which is now the leadingASEAN country in exports to the US , in the exports of severalstaples.

Vietnam shipped garment and textiles, woodworks, footwear, seafood, cashew nuts and machinery to the US .

Ofthese, garment and textiles continued to gain the highest value withover 2.55 billion USD in the first five months of the year, ayear-on-year increase of 17.7 percent, making up 50 percent of thecountry’s garment and textiles exports turnover. Following was footwearwith an export value of 714 million USD, making up over 30 percent oftotal footwear export turnover.

The US was the largestimporter of Vietnamese handbags, wallets and suitcases, spending 180million USD on the products in five months of the year, an increase of44 percent.

In the same period, Vietnam spent 1.77 billion USDon importing goods from the US , an increase of 26 percent over thesame period last year.

As a result, Vietnam had a trade surplus of 4.34 billion USD to the US , an increase of 21 percent.

The US Commerce Association forecast that Vietnam is capable of leading ASEAN in exports to the US in 2011./.
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