Export turnover to the US reached USD 61.8 billion in eight months of 2021
According to statistics of the General Department of Customs, the export turnover of Vietnamese goods to the US market in August 2021 reached USD 7.9 billion, decreased by 5% compared to the previous month. Accumulated over the first eight months of 2021, export turnover reached USD 61.8 billion, an increase of 31.7% over the same period last year.
In the first eight months of 2021, the export product group with the leading export turnover is the textile and garment category, reaching USD 10.5 billion, an increase of 16.3%, accounting for 17% of the export share.
Export turnover of machinery, equipment, tools and spare parts in August reached USD 1.3 billion, an increase of 13.1% over the previous month, bringing the total turnover of 8 months to over USD 10.3 billion, an increase of 67.7% over the same period last year, accounting for 16.6% of the export share.
Goods exported to the US in the first 8 months of 2021 in general increased in turnover compared to the first 8 months of 2020. In which, exports achieved good growth in commodity groups such as: timber and wood products increased by 57.2%; plastic products increased by 87.7%; iron and steel of all kinds increased by 420.6%; rubber products increased 72.2%; rattan, bamboo, sedge and carpet products increased by 87.5%; cameras, camcorders and accessories increased by 83.5%.
In contrast, the group of export items with decreases: Cashew nuts decreased by 0.6%; coffee decreased by 8.9%; rice decreased by 21.4% over the same period last year.
Vietnam's exports to the US market are forecast to continue to grow positively. Vietnamese enterprises in industries such as computers, electronic products and components, seafood, furniture, furniture, etc. have been agile, proactive in finding information, taking advantage of opportunities to dominate the market, increase competitiveness, meet demand and increase export capacity.
To plan for export to the US, before shipping the goods, the exporter must check the restrictions on US imports, estimate the customs fees, provide the required documentation when ordering freight carriers and provide sufficient documents at the request of relevant agencies. Importers need to understand which agency is responsible for the regulations for importing goods into the US.
In the process of transporting goods, enterprises need to have a certificate of customs clearance, truthfully declare customs, check the accuracy of documents and pay customs fees in accordance with regulations. In addition, depending on the specific product, the US Customs and Border Protection (CBP) will work with other agencies such as: Food and Drug Administration (FDA), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), etc. These agencies will set different standards for each type of product.
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