Trade surplus with Americas reaches $15b

Trade surplus with Americas reaches $15b

The nation's trade surplus with markets in North and South America market reached US$15.3 billion last year, an increase of 15 per cent over the previous year, according to the General Department of Customs.

The total value of trade with the Western Hemisphere climbed to $31.3 billion, of which Viet Nam's export value accounted for $23.3 billion.

Rising export value to American markets continued to drive the trade surplus with the region. The US remained Viet Nam's leading importer, with an import value of $19.5 billion last year, an increase of 16 per cent over 2011. Canada bought $1.14 billion worth of Vietnamese goods, Brazil $710 million and Mexico $685 million.

Textiles and garments were the top export earner, with a value of $8 billion to American markets, up 9 per cent. Footwear followed with $3 billion, up 17 per cent. Wood products, seafood, equipment, and electronic products also generated export earnings of at least $1 billion each.

Viet Nam last year implemented a number of trade promotion programmes to boost exports to American countries.

The Forum on Viet Nam -Latin America Trade and Investment, with participating businesses from 13 Latin American countries, also facilitated Vietnamese and Latin American investors in directly discussing measures to boost trade and investment.

Although trade between Viet Nam and American countries has increased at an average rate of 30 per cent annually, from $300 million in 2000 to more than $15 billion last year, trade exports say the market is not yet fully tapped.

vietnamnews