US remains Vietnam’s largest export market in Q1

According to the newest studies offered by the Common Division of Customs, nearby exports to the US arrived at US$9.76 billion in March alone, thus bringing the total export turnover recorded for the duration of the very first quarter of the year to US$25.96 billion, marking an once-a-year improve of 16.6%.

By the stop of the very first quarter, there have been six groups of items exported to the US which experienced a turnover of US$1 billion or additional, together with machinery and machines, garments and textiles, desktops, electronic items and parts, telephones and components, footwear, together with timber and wooden products and solutions.

Most notably, attire exports to the US strike US$4.36 billion, an maximize of 24.2% about the exact period of time very last year and producing up 50.3% of the country’s complete export turnover for this commodity group.

Whilst it is not as dominant for local garments and textiles, the US is also the largest market place for other vital export teams, these types of as machinery and tools, personal computers, electronic items and parts, footwear, in addition to equally wood and wood goods.

In distinction, the opening quarter of the 12 months witnessed the region expend US$3.44 billion importing items from the US, a drop of 8.2% on-year, and accounting for 3.9% of the nation’s over-all import turnover.