Bilateral US trade up by nearly 25%

Trade between Viet Nam and the US totalled nearly US$6.5 billion in the first four months. Both sides increased shipments by around a fourth over the same period last year.

Viet Nam’s exports accounted for $5.05 billion, with the top five items all seeing increase in value.

Textile exports rose to nearly $2 billion (a 18 per cent hike), followed by footwear to $593.3 million (up 26.5 per cent), wood products to $523.9 million (2.7 per cent), electrical appliances to $263.2 million (23 per cent) and fish to $202.3 million (46 per cent).

US exports rose to $1.44 billion. Shipments of fibre and textile products jumped 273 per cent to $214.1 million while meat exports dropped 36 per cent to $74.7 million.

Machinery, equipment, and components; vehicles; and electrical machinery and equipment were the other major exports.

The Vietnamese commercial counsellor in the US estimatedbilateral trade this year could rise by 10 per cent from last year’s $18.3 billion.

The American Business Association has forecast Viet Nam’s exports to the US this year to exceed $15 billion. — VNS

Tags: Vietnam US Trade, Vietnam-US bilateral trade