Mobile phones, textiles are top Vietnamese exports

Mobile phones, textiles are top Vietnamese exports

Mobile phones and electronic components had the largest share of the total Vietnamese export revenue in the first eight months of 2014, according to the General Statistics Office of Vietnam.

The export revenue of these products was US$15.23 billion, a 13.7 per cent increase year over year.

Textiles came second with an export turnover of $13.65 billion, a 19.7 per cent increase year over year.

Meanwhile, machines, equipment and spare parts had the highest share in the country's total import turnover in the first eight months of the year with $14.59 billion, a 24.5 per cent increase year over year. Electronics, computers and electronic parts came second with $11.19 billion, experiencing a 2.8 per cent fall year over year.

The US is still Viet Nam's largest export market with $18.5 billion, a 22.5 per cent increase year over year. The European Union came second with $17.9 billion, which was an increase of 13.3 per cent. ASEAN came third with $12.4 billion, witnessing a 0.5 per cent increase.

The turnover of Vietnamese exports to China rose to $9.8 billion, which was a 15.2 per cent increase, while the turnover of exports to Japan was $9.9 billion, followed by South Korea with $4.3 billion.

In the first eight months of the year, China remained Viet Nam's largest importer with a turnover of $27.6 billion, which was a 17.3 per cent increase year over year. The trade deficit with China is expected to reach $17.8 billion, an increase of 18.5 per cent year over year.

The trade deficit with the ASEAN markets ranked second with $15.2 billion, which was an 8.4 per cent increase, followed by South Korea and Japan in third and fourth place with $14 billion and $8.1 billion respectively.

bizhub