US remains Vietnam’s largest importer

Update: 16:25 | 24/07/2018
The US remained Vietnam’s largest export market with a value of nearly 21.6 billion USD as of mid-July, accounting for 19 percent of the total.  
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From the beginning of this year to July 15, Vietnam’s total export revenue neared 122.5 billion USD while its imports hit roughly 120 billion USD, resulting in a surplus of 2.5 billion USD, reported the General Department of Vietnam Customs.

us remains vietnams largest importer
Illustrative image. (Photo: VNA)

Earlier in June, the country ran a surplus of about 870 million USD, bringing the six-month figure to a record 3.37 billion USD in the recent five years.

High trade surplus is considered a condition to stabilising macro-economy and foreign exchange rate, as well as ensuring foreign reserves.

According to the Ministry of Industry and Trade, domestic businesses reported a 19.9 percent rise in exports by shipping 33.07 billion USD worth of goods abroad in the first half of this year. Meanwhile, foreign-invested enterprises earned 80.86 billion USD from exports, up 14.5 percent from the corresponding period last year.

Vietnam exports goods to 200 countries and territories over the world, with 27 markets reaching an export turnover of over 1 billion USD, and the top 10 largest global markets accounting for 88 percent of the country’s export turnover.

The ministry forecast this year’s exports at 236.6 billion USD, up 10 percent against 2017.

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(Source: VNA)