US tops Vietnam’s biggest export markets

Processing shrimp for export (Source: VNA)

Hanoi (VNA) – The US continued topping the list of 200 countries and territories importing Vietnamese goods in 2016, with a totalimport value of over 34.8 billion USD, according to the Government’s portal.

Itwas followed by China, Japan and the Republic of Korea, with respective values of19.6 billion USD, 13.2 billion USD and 10.4 billion USD.

Vietnammainly shipped to the US products asgarment-textile, footwear, machinery, equipment and spare parts, seafood, andtimber products.

Witha combined import turnover of over 78.1 billion USD, the four markets made up nearly49 percent of Vietnam’s total export last year.

In 2016, Vietnam recorded the highest growth in export to the RoK, with ayear-on-year increase of 27.34 percent. The figures for China, the US and Japanwere 26.68 percent, 14.58 percent and 3.1 percent, respectively.

As of November 2016, Vietnam had eight groups of commodities exported to the USand six groups shipped to China that earned at least 1 billion USD.

The country’s total export revenue was estimatedto grow up to 8.6 percent in 2016, reaching approximately 175.94 billion USD,reported the General Department of Customs.

According to a resolution on the socio-economicdevelopment plan for 2017 adopted by the National Assembly, Vietnam targets a6-7 percent rise in export-import revenue this year.-VNA