The US remained Vietnam’s largest goods consumer, importing more than13 billion USD worth of goods over the past seven months (18 percent ofVietnam’s total export value), according to the Ministry of Industryand Trade’s Information Centre.
Exports to the US experienced a year-on-year increase of 17.2 percent, the centre reported.
During the reviewed period, garments, footwear and wood were all majorVietnamese export items that each posted over 1 billion USD in revenue.
Garments topped the export list, fetching 4.8 billion USD, up15.5 percent. Footwear came next with 1.4 billion USD, up 20.12 percent,followed by timber products with 1.05 billion USD, a gain of 7.24percent.
Other items that also recorded significant exportturnover included computers and electronics, seafood, machinery andequipment, vehicles and component, cashew nuts, and steel products.
Crude oil was the standout performer, registering growth of 111.11percent year-on-year despite recording modest export earnings of 357.6billion USD.
Statistics from the General Statistics Office showedVietnam’s exports to the US last year were 116 times higher thanthe same period in 1995, with average annual growth of 32 percent.
Rising export turnover to the US will help meet this year’s target of 23 billion USD.
However, Vietnam ’s exports accounted for only 1 percent of USimports, with the country ranking 40 th out of nations with thegreatest export values to the US.
Experts suggested domesticbusinesses closely obey US market regulations and requirements tominimise the risk of being blocked by anti-dumping and anti-subsidebarriers.-VNA