Exports to the US increase sharply in January
(VOV) - Vietnam’s export earnings from the US market hit US$2.35 billion in January 2014, a year on year increase of 16.2%, according to Vietnam Customs statistics.
Textiles topped the list of export items, earning US$954.53 million, up 20.9% compared to the same period last year.
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| Garments are amongVietnam's key export items to the US |
They were followed by footwear, raking in US$248.12 million, up 2.6%, and wood products, valued at US$186.67 million, up 1.9%.
Notably, mobile phone handsets and accessories ranked fifth, rising 1% to US$126.93 million.
Approximately 1.5 million Vietnamese residents in the US support Vietnamese products in penetrating the US market.
Besides, Trans-Pacific Partnership (TPP) agreement negotiations are entering the final stage, and once the trade pact is signed, it will offer plenty of opportunity to Vietnamese exporters.
However, the Vietnamese Trade Office in the US warns Vietnamese businesses will encounter difficulties breaking into the US market unless they meet its tough requirements.