10 products participate in US$3bln export club

Illustration photo

Those witnessing high growth rate included garment up 16.8%, footwear up 23.1%, aquaculture up 17.1%, machines, equipment and tools up 21.4% and coffee up 30.9%.

Among the 10 items, six belonged to the manufacturing and processing industry, three in the agricultural-forestry-aquaculture sector, and crude oil.

The nation recorded 10 localities having export turnover exceeding US$3 billion in 2014, seeing  three more new provinces of Thai Nguyen, Long An and Ba Ria-Vung Tau.

These 10 localities posted a total export turnover of US$116.15 billion in 2014, accounting for 77.3% of the total.

The southern province of Binh Duong announced the highest trade surplus of US$3.86 billion, followed by the northern provinces of Bac Ninh and Thai Nguyen with US$3.35 billion and US$1.2 billion, respectively.

Viet Nam gained US$95.32 billion from exporting to 12 markets in the US$3 billion export club. The US, China, Japan and the Republic of Korea remained the largest exporters of the nation.

In 2015, an ASEAN Economic Community (AEC) will be formed, allowing Viet Nam to restructure its export and import markets and increase the competitiveness.

In 2014, Viet Nam’s export turnover to ASEAN nations reached more than US$19.12 billion, much higher than the figure of US$1.112 billion in 1995.  

The nation signed Free Trade Agreements (FTA) with the EU, the Republic of Korea and the Customs Union of Russia, Belarus and Kazakhstan this year, expecting that these will push the country's deeper global integration.

By Thuy Dung