Exports to US bring in nearly US$97 billion
VOV.VN - Vietnam earned nearly US$97 billion from its exports to the United States last year, representing a decline of 11.3% year on year, according to the Ministry of Industry and Trade.
Despite the fall, the US was Vietnam’s largest export market with more than half of the export earnings coming from high-tech products, including consumer electronics, electrical appliances and smartphones, textiles and garments, and footwear.
Last year witnessed the group of machinery, equipment, tools and spare parts take the lead in the export turnover with US$18.1 billion, representing a drop of 9.8% year on year and accounting for 18.7% of the total export earnings.
The group of computers, electronic products and components ranked second with US$17 billion, while textiles and garments fetched US$14.4 billion.
Products with increased export turnover last year included cameras, camcorders and components, up 20%; paper and paper products, up 13.9%, and rice, up 3.4%.
Experts say there remains ample room ahead for agricultural, aquatic and furniture exports to the US, particularly as these are advantageous Vietnamese products. In addition, the US market boasts huge demand for these products at present.
