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Nov 22, 2016 / 12:24

US continues to be the largest importer of Vietnamese goods

The US remained the biggest market with over 3.26 billion USD spent on Vietnamese goods in October, raising exports in the first ten months of this year to the country to 31.55 billon USD, according to the General Department of Vietnam Customs.

Vietnam saw a trade surplus of over 3.3 billion USD during the period with foreign direct investment (FDI) firms continuing to outpace domestic firms in export revenue, the General Department of Vietnam Customs said.
Total trade turnover surpassed 284.5 billion USD in the reviewed time, including 143.9 billion USD in exports, a year-on-year growth of about 7 percent. 
In October alone, Vietnam gained more than 15.4 billion USD from overseas shipments, down 0.1 percent from the previous month, nearly 11 billion USD of which was earned from export activities of FDI enterprises, up 0.3 percent from September. 
Phones and components topped the list of export commodities in October with revenue of over 2.83 billion USD, down 2.6 percent month on month. They were followed by textile and garment products with more than 1.9 billion USD in turnover, dropping by 10.7 percent. 

 
Phones and components topped the list of export commodities in October with revenue of over 2.83 billion USD.
Phones and components topped the list of export commodities in October with revenue of over 2.83 billion USD.
Computers, electronic products and components placed third with a monthly export revenue rise of 10 percent, according to Vietnam Customs. 
The US remained the largest market with over 3.26 billion USD spent on Vietnamese goods in October, bringing 10-month exports to the country to 31.55 billon USD. 
The respective figures for China, the second biggest importer, were 2.2 billion USD and 17.3 billion USD. 
According to Vietnam Customs, the country imported more than 140.65 billion USD of commodities in January-October, including 15.84 billion USD in October. 
Imports by FDI firms reached some 9.5 billion USD in October, rising by 7.7 percent from September.
Computers, electronic products and components were the goods with the biggest import turnover, 2.7 billion USD, up 11 percent month on month. Machinery, equipment and spare parts were second with 2.38 billion USD, up 3.9 percent. 
The Vietnam Customs said that China continued to be the biggest exporter of goods to Vietnam, which imported 4.3 billion USD of goods from this country in October, bringing 10-month imports to more than 40.2 billion USD. 
Imports from Japan and the US were respectively estimated at 1.38 billion USD and 932 million USD in October, reaching 12.2 billion USD and 6.85 billion USD during  the period.
Vietnam was striving to fetch a total of 178 billion USD from exports by year-end, up 10 percent from a year ago, and control trade deficit at 5 percent.