The US remains Viet Nam’s largest export market
17:01 | 08/12/2020

VGP – The United States continued to be the largest importer of Vietnamese products in the first 11 months of 2020 with the turnover of US$69.9 billion, up 25.7% year-on-year, followed by China, the European Union, ASEAN, the Republic of Korea, and Japan.

The US remains Viet Nam’s largest export market

According to the Ministry of Industry and Trade (MOIT), Viet Nam’s export revenues were estimated at US$254.93 billion during January-November, representing an increase of 5.5% over the same period in 2019.

The domestic economic sector exported US$73.05 worth of commodities, up 1.6%, while the foreign invested sector (including crude oil) reported an export value of US$181.88 billion, up 7.1% year-on-year.

There were 31 items reporting export turnover of over US$1 billion each, accounting for 92% of the country's total revenue.

Notably, the manufacturing industry registered quite high year-on-year growth in terms of export revenue, contributing significantly to the general growth rate with an estimated value of US$216.35 billion, up 6.1%.

Some items with good export growth rates included computers, electronic products and components (up 24.3%); machinery, equipment, tools and spare parts (up 44.5%); and wood and wood products (up 14.1%).

Positive export growth and record trade surplus in the first 11 months have shown the effectiveness of the Government's performance despite complicated development of the Covid-19 pandemic and disruptive trade and investment around the world./.

By Vien Nhu

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