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Apr 23, 2014 / 16:18

VN's trade surplus with US increases in Q1

Vietnam`s trade surplus with the US in the first three months of the year widened to US$4.5 billion, according to the latest statistics from the Vietnam Customs office.

The total import-export volume between Vietnam and the US in the reviewed period climbed to US$7.76 billion, up 24.9% against the same period last year.

The US remains Vietnam’s second largest trade partner, just after China. In 2013, Vietnam’s trade surplus with the US hit a record high of US$18.6 billion.

The garment and textile sector led in exports to the US market for the quarter, with sales of US$2.16 million, up 14.55% compared to the same period last year, comprising 35.2% of the total exports.

Footwear ranked second in exports to the market with sales of US$674.1 million (up 23.63%), followed by wood and wooden products at US$484.61 million (up 22.8%).