VN-US trade revenue on the rise

Total Vietnamese exports to the US in the first four months of this year reached US$5.05 billion, an increase of 21 percent over last year’s same period, announced the US Census Bureau. 

Vietnam, US boost trade, investment

The export value of Vietnam’s five major products to the US also increased with garments topping the list earning US$2 billion. They were followed by footwear (nearly US$600 million), wood products (more than US$520 million), machinery, electrical equipment and audio-recording devices (US$263 million), and seafood (US$200 million).

Meanwhile, revenue from US exports to Vietnam saw a growth of 24 percent to hit US$1.43 billion with cloth contributing US$214 million to become the leading export product.

The US is also increasing exports of machinery, engineering equipment, accessories, vehicles, and electronics to Vietnam.

The Vietnam Trade Office in the US estimates that the two countries’ import-export revenue in 2011 will increase 10 percent over the US$18.3 billion in 2010.

The American Chamber of Commerce predicts that Vietnamese exports to the US this year will surpass US$154 billion and the country is likely to become the US’s largest exporter in the ASEAN region.

(VOV)

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