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» » US tops Vietnam’s biggest export markets

US tops Vietnam’s biggest export markets

US tops Vietnam’s biggest export markets

It was followed by China, Japan and the Republic of Korea, with respective values of US$19.6 billion, US$13.2 billion and US$10.4 billion.

Vietnam mainly shipped products such as garment-textile, footwear, machinery, equipment and spare parts, seafood, and timber products to the US.

With a combined import turnover of over US$78.1 billion, the four markets made up nearly 49% of Vietnam’s total export last year.

In 2016, the highest growth in exports were recorded by the RoK, with a year-on-year increase of 27.34%. The figures for China, the US and Japan were 26.68%, 14.58% and 3.1%, respectively.

As of November 2016, Vietnam had eight groups of commodities exported to the US and six groups shipped to China that earned at minimum of US$1 billion.

The country’s total export revenue was estimated to grow by up to 8.6% in 2016, reaching approximately US$175.94 billion, reported the General Department of Customs.

According to a resolution on the socio-economic development plan for 2017 adopted by the National Assembly, Vietnam targets a 6%-7% rise in export-import revenue this year.

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