Vietnam reports $4.5bn trade surplus with U.S. in 1st quarter
Vietnam reports $4.5bn trade surplus with U.S. in 1st quarter
Vietnam’s trade surplus with the U.S. reached US$4.5 billion in the first three months of this year, according to the latest figures recently released by the General Department of Vietnam Customs.
This has made the U.S. the Southeast Asian country’s second largest trade partner, the department said.
Ranking first in terms of export value, the garment and textile industry posted $2.16 billion in revenue, up 14.55 percent compared to the same period last year, accounting for 35.2 percent of the country’s $6.15 billion total exports to the U.S.
Footwear products followed with $674 million in export earnings, up 23.63 percent while wood and wooden products brought Vietnam $484.61 million, a 22.8 percent year on year rise.
In 2013, Vietnam reported a trade surplus of $20 billion with the U.S., up 35.14 percent from 2012.
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