Business

Trade surplus with Americas hit 15 billion USD

The nation’s trade surplus with markets in North and South America reached 15.3 billion USD in 2012, an increase of 15 percent over the previous year, according to the General Department of Customs.
The nation’s trade surplus with markets in North and South Americareached 15.3 billion USD in 2012, an increase of 15 percent over theprevious year, according to the General Department of Customs.

The total value of trade with the Western Hemisphere climbed to 31.3billion USD, of which Vietnam’s export value accounted for 23.3billion USD.

Rising export value to American markets continued to drive the trade surplus with the region.

TheUS remained Vietnam’s leading importer, with an import value of19.5 billion USD last year, an increase of 16 percent over 2011. Canadabought 1.14 billion USD worth of Vietnamese goods, Brazil , 710million USD and Mexico , 685 million USD.

Textiles andgarments were the top export earner, with a value of 8 billion USD toAmerican markets, up 9 percent. Footwear followed with 3 billion USD, up17 percent. Wood products, seafood, equipment, and electronic productsalso generated export earnings of at least 1 billion USD each.

In 2012, Vietnam implemented a number of trade promotion programmes to boost exports to American countries.

The Forum on Vietnam – Latin America Trade and Investment, withparticipating businesses from 13 Latin American countries, alsofacilitated Vietnamese and Latin American investors in indirectlydiscussing measures to boost trade and investment.

Althoughtrade between Vietnam and American countries has increased at an averagerate of 30 percent annually, from 300 million USD in 2000 to more than15 billion USD in 2012, trade experts say the market is not yet fullytapped.-VNA
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