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Tuesday, June 25, 2024

Vietnam’s exports to U.S. exceed US$100 billion

The Saigon Times

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HCMC – Revenue from Vietnam’s exports to the U.S. surpassed the US$100-billion mark last year, making America the largest export market of the Southeast Asian country.

It was the first time that Vietnam had exported more than US$100 billion worth of goods to a foreign market, according to the Ministry of Trade and Industry.

China came in second, with Vietnam’s exports amounting to US$57.2 billion, followed by South Korea and Japan.

In December 2022 alone, export revenue reached US$29.7 billion, up 2.2% against the previous month.

The nation’s 2022 exports expanded 10.6% year-on-year to US$371.9 billion, with foreign-invested businesses making up three-quarters.

Last year saw Vietnam having a trade surplus of US$31.8 billion with with the European Union and US$836 million with Japan.

But the country had a huge trade deficit with China, at US$60.9 billion.

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