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Wednesday, June 19, 2024

Vietnam’s exports to Americas exceed US$8 billion in January

The Saigon Times

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HCMC – Vietnam exported goods worth US$8.21 billion to the Americas and spent US$1.64 billion on imports from this market in January this year, resulting in a trade surplus of around US$6.56 billion, according to the Ministry of Industry and Trade.

The U.S. remained Vietnam’s biggest trade partner in this continent, with Vietnam’s January exports and imports amounting to US$7.2 billion and US$860 million, respectively.

Canada ranked second in the continent as Vietnam’s exports and imports from this market amounted to US$360 million and US$45 million in the first month of the year, respectively.

Vietnam’s trade with the Americas reached US$153.9 billion in 2022, up 10.7% over the same period last year. Vietnam’s exports to the market generated US$128.2 billion, up 12.4%, while it spent US$25.7 billion on imports, up 3%.

Exports to all major markets in the region recorded stable growth, including the U.S. at 11%, Brazil at 6.6%, Canada at 16.5%, Mexico at 7.1%, Chile at 9% and Argentina at 8.3%.

Regarding the U.S. market, total imports and exports reached over US$123.8 billion, up 11% year-on-year.

Multiple free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Vietnam-Chile Free Trade Agreement, have facilitated trade between Vietnam and other countries in recent years.

As a result, Vietnam’s exports to four countries in the region – Canada, Mexico, Chile and Peru – expanded 8.7% to US$13.1 billion last year.

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