Economy

Vietnam’s goods export to US increases sharply

According to the General Department of Vietnam Customs, value of goods trade between Vietnam and the United States increased from US$ 18 billion in 2010 to nearly US$ 60.3 billion in 2018.

(Illustrative photo:SGGP)

(Illustrative photo:SGGP)

The growth rate of import-export turnover between the two countries increased with an average of more than 16 percent per year, whereas the growth rate of Vietnam’s goods export to the United States market grew sharply from US$ 14.24 billion in 2010 to US$ 47.53 billion in 2018, pushing trade balance in 2018 to reach a surplus of nearly US$34.8 billion, equaling to 73.2 percent of Vietnam's export value to the US market.

According to the General Department of Vietnam Customs’ statistics, the total value of 10 largest Vietnamese commodity groups exported to the US market in 2018 reached US$ 40.58 billion, accounting for 85.4 percent of the total value of exports to the United States.

Textiles and garments earned US$ 13.7 billion, footwear brought US$ 5.82 billion, cell-phones and components reached US$ 5.41 billion, wood and wood products gained US$ 3.9 billion. 

There were nearly 7,200 Vietnamese enterprises exporting goods to this market in 2018, an increase of 7.6 percent.




 

BY HAN NI- Translated by Huyen Huong

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