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Vietnam’s trade surplus to US to widen to $20 bln, up 35%

Dec 21st at 09:28
21-12-2013 09:28:22+07:00

Vietnam’s trade surplus to US to widen to $20 bln, up 35%

Vietnam is expected to post a trade surplus of US$20 billion with the US in 2013, up 35.14 percent from 2012, Dao Tran Nhan, head of Vietnam's trade office in the US, told a meeting on Wednesday.

 

Exports to the US in the January – November period totaled $23.5 billion, and the full-year figure is expected to surpass the $25 billion mark for the first time, Nhan said. It will represent a 22.5 percent increase from 2012, he added.

The US currently accounts for nearly 20 percent of the total export turnovers of Vietnam.

Meanwhile, imports from the US are estimated at around $5 billion.

Vietnam's trade surplus with the US was $14.8 billion last year compared with $12.4 billion in 2011.

Vietnam’s total export turnovers in 2013 are expected to rise 16.6 percent year on year to $133 billion.

Nhan said exports to the US may total $27.5 billion in 2014 should the 10 percent growth be maintained.

In an interview with Saigon Times, Nhan said the trade surplus with the US will reduce pressure from the huge trade deficit to China, which expanded to $19.6 billion in the year to October.

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