US named Vietnam’s biggest export market
The US was Vietnam’s biggest export market in the first 11 months of 2015 with a turnover of US$30.6 billion, up 17.6% year-on-year, said the General Statistics Office (GSO).
It was followed by the European Union (EU), with US$28.1 billion; ASEAN, US$17 billion; China; US$15.6 billion; Japan, US$12.8 billion; and the Republic of Korea, US$8.4 billion.
According to the GSO, Vietnam’s export turnover was estimated at US$148.7 billion in the 11-month period, an 8.3% year-on- year increase.
Of the figure, US$43.6 billion was contributed by domestic businesses and the remainder by the foreign investment sector (including crude oil).
Phones and spare parts topped the list of foreign currency earners, fetching US$28.5 billion, up 29.6%. It was followed by garments, with US$20.7 billion; computers and spare parts, US$14.3 billion; and footwear, US$10.8 billion.
However, some agricultural and mineral products such as crude oil, coal, and coffee saw decreases in both export volume and value in comparison with the same period last year.
The export turnover of rice and rubber declined 4.6% and 14.2% respectively.
The GSO revealed that the import turnover of goods for manufacturing and assembling continued to skyrocket, such as machinery and equipment, with US$25.3 billion, up 25.7% year-on-year; and computer and spare parts, with US$21.6 billion, up 27.7%.
China remains Vietnam’s biggest import market with a total estimated value of US$45.1 billion, a 15% increase compared to the same period last year. It was followed by the Republic of Korea, with US$25.6 billion and ASEAN, with US$21.8 billion.
In the 11-month period, Vietnam recorded a trade deficit of US$3.8 million or 2.5% of the country’s export turnover.
According to the GSO, Vietnam’s export turnover was estimated at US$148.7 billion in the 11-month period, an 8.3% year-on- year increase.
Of the figure, US$43.6 billion was contributed by domestic businesses and the remainder by the foreign investment sector (including crude oil).
Phones and spare parts topped the list of foreign currency earners, fetching US$28.5 billion, up 29.6%. It was followed by garments, with US$20.7 billion; computers and spare parts, US$14.3 billion; and footwear, US$10.8 billion.
However, some agricultural and mineral products such as crude oil, coal, and coffee saw decreases in both export volume and value in comparison with the same period last year.
The export turnover of rice and rubber declined 4.6% and 14.2% respectively.
The GSO revealed that the import turnover of goods for manufacturing and assembling continued to skyrocket, such as machinery and equipment, with US$25.3 billion, up 25.7% year-on-year; and computer and spare parts, with US$21.6 billion, up 27.7%.
China remains Vietnam’s biggest import market with a total estimated value of US$45.1 billion, a 15% increase compared to the same period last year. It was followed by the Republic of Korea, with US$25.6 billion and ASEAN, with US$21.8 billion.
In the 11-month period, Vietnam recorded a trade deficit of US$3.8 million or 2.5% of the country’s export turnover.