US tops list of importers
US tops list of importers
The US ranked first in the top five markets for Vietnamese exports last month, with a trade surplus of more than US$1.2 billion recorded for Viet Nam, according to the General Department of Customs' statistics.
Statistics from the Ministry of Industry and Trade showed that export turnover to the US in the first nine months of this year hit $14.32 billion, an increase of 14.83 per cent over the same period last year.
In September alone, turnover reached $1.58 billion, mainly thanks to garment and textile products, (making up more than 41 per cent), footwear (12 per cent), wood products (9 per cent) and fisheries (6 per cent).
The US was followed by Hong Kong, the UK, Australia and the United Arab Emirates in terms of trade surplus in Viet Nam's favour.
For the remainder of the year, export turnover to the US must amount to $2 billion per month on average to fulfil the target of $20 billion for the whole year.
The ministry said the figure might be achievable if the US economy sees continued signs of improvement and rising consumption during the final months of the year.
However, Pham Xuan Hong, president of the HCM City Textile and Garments Association, said that enterprises encountered a lot of difficulties in seeking contracts in the US market as many were cancelled due to price fluctuations for materials.
According to the customs department, the biggest share of imports to Viet Nam came from China, with Viet Nam holding a trade deficit with its northern neighbour of more than $1.5 billion last month, an increase of 6 per cent over August.
The country's total import-export turnover during the first nine months of this year was $166.96 billion
vietnamnews
