Monday, 17 Dec 2018
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ECONOMYTRADE - SERVICE

US remain's Vietnam's No.1 export market

Updated at Saturday, 17 Nov 2018, 12:25
The Hanoitimes - Vietnam’s trade activities with all continents have increased year-on-year.
The US remained Vietnam’s largest export market with US$39.42 billion, up 14.2% year-on-year, according to the General Department of Vietnam Customs (GDVC). 
 
Graphic: Nguyen Tung. Data: GDVC.
Graphic: Nguyen Tung. Data: GDVC.
The European Union (EU) stood in the second place with US$34.81 billion, up 9.8% year-on-year during the period, followed by China and ASEAN with US$33.48 billion and US$20.48 billion, respectively. 

China, meanwhile, continued to be Vietnam's biggest import market, with its import turnover of US$53.39 billion during the January – October period, up 13.4% year-on-year, while South Korea claimed the second place with US$39.44 billion. 

The combined imports from these two markets accounted for 47.5% of Vietnam’s total import turnover over the last 10 months. 

Overall, Vietnam’s trade activities with all continents have increased year-on-year, of which the highest growth rate was with Oceania with 18.9% year-on-year, reaching US$7.68 billion in trade turnover, follow by America up 14.8%with US$65.12 billion.. 

Total trade turnover between Vietnam and Asian countries in the first ten months of 2018 reached US$264.9 billion, up 14.3% year-on-year, accounting for the largest portion of Vietnam’s trade value at 66.8%. 

Vietnam’s trade turnover with Europe and Africa was reported at US$53.08 billion and US$6.08 billion, up 11% and 3.1% year-on-year, respectively. 

Vietnam posted a trade turnover of US$396.85 billion in the January – October period, up 13.8% or US$48.12 billion year-on-year, of which, export turnover reached US$202.03 billion, up 15.2% or US$26.67 billion and imports of US$194.82 billion, up 12.4% or US$21.45 billion. 

This resulted in a record high trade surplus of US$7.21 billion in the first ten months of 2018.
Nguyen Tung
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