The United States accounts for nearly 31% of Vietnam's export turnover
Compared to one year ago, export turnover to the US market increased by 1.8 percentage points.
According to the latest statistics of the General Department of Customs, as of the end of July, exports to the US market reached USD 66.99 billion, an increase of 24.2% over the same period last year and accounted for 30.8% of the country's turnover.
Compared to the same period last year, the export market share to the US market increased by 1.8 percentage points (the same period last year accounted for 29%).
As the largest market, it is easy to recognize the presence of all major export groups of Vietnam in the US market.
Specifically, of the 5 largest export commodity groups of Vietnam in the first 7 months of the year with a turnover of USD 10 billion or more, the United States holds the position as the number 1 market.
The largest was machinery, equipment, tools and spare parts with USD 11.35 billion, an increase of 26.8% over the same period last year.
Next is: textiles and garments with USD 11.14 billion, an increase of 21.3%; computers, electronic products and components with USD 8.62 billion, an increase of 27.1%; phones and components with USD 8.04 billion, an increase of 54.6%; footwear with nearly USD 6.1 billion, an increase of 28.6%.
In addition, the world's largest economy is also the leading major market for many important export commodities of Vietnam such as: timber and wood products; seafood; means of transport and spare parts; toys, sports equipment, etc.
In the opposite direction, in the first 7 months of the year, Vietnam spent 8.69 billion USD on importing goods from the United States, decreased by 3.8% over the same period last year, accounting for 4% of the country's import turnover.
Thus, in the first 7 months of the year, Vietnam had a trade surplus of more than USD 58 billion to the U.S.
- The trade balance of goods has a surplus of nearly USD 25 billion after 10 months
- Seafood exports to the US increased for the second consecutive month
- HSBC: Vietnam's GDP growth is forecast at 5% this year and 6.3% in 2024
- Imports and exports are approaching USD 500 billion
- VDSC forecasts fourth quarter GDP growth to reach 7%
- Positive signs in import-export activities in the last months of the year
- Export turnover achieved positive growth for the first time after six months
- Many pangasius businesses receive tax reductions when exporting to the US
- Vietnam's seafood trade with the US is expected to have breakthroughs
- VDSC: GDP growth in the third quarter may reach 4.5%