Vietnam-US two-way trade sharply rises

Two-way trade between Vietnam and the US in 2011 continued to rise sharply compared to 2010, according to statistics released by US customs on Nov. 4.

The figures show that Vietnam’s exports to the US in the first eight months of this year reached 11.3 billion USD, up 20.6 percent against the same period last year, while US exports to Vietnam hit 2.7 billion USD, a year-on-year increase of 21.5 percent.

Vietnam’s major export items to the US included garments and textiles, footwear, seafood and wood products. In 2011, the garment and textile export turnover was the highest at more than 4.8 billion USD, up 19 percent compared to the previous year.

Agricultural product exports saw the sharpest increase of 41 percent, followed by paper and paper products, up 33 percent; machinery, 29 percent; footwear, 26 percent; and handicrafts, 25 percent.

Meanwhile, US mainly exports machinery, equipment, raw materials and food to Vietnam, of which cotton enjoyed the highest increase of 100 percent, followed by machinery, electrical equipment and spare parts with 80 percent and plastic products, 49 percent.

Milk and dairy products, poultry’s eggs, honey, and motor vehicles also rose by 30 percent./.

Source Vietnamplus

Tags: Vietnam US Trade

Posted by VBN on Nov 10 2011. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry