Vietnam achieves trade surplus of USD 12.4 billion with the US in Q1

Vietnam’s export turnover to the US market in the first three months of 2020 reached USD15.95 million, up 19.9% over the same period last year and accounting for 25.5% of the country’s total value, according to the General Department of Vietnam Customs.    
April 27, 2020 | 09:05
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US remains the largest importer of Vietnamese garment and textile products.

Of the export items, six reported revenue of US$1 billion or above, including garments & textiles; phones; computers and electronic products; footwear; wooden products; and machinery, equipment and spare parts.

The US remained the largest importer of Vietnamese garment & textile products in Q1 with a turnover of US$3.3 billion, accounting for 47% of the country’s total garment & textile export revenue. In addition, the US rose to become a leading export market for Vietnamese phones and spare parts with revenue of US$2.67 billion, up 1.1% over the same period last year, NDO reported.

Particularly, Vietnam’s exports of computers, electronic products and spare parts to the US increased by more than twofold year-on-year to approximately US$1.96 billion, making it the second largest importer, behind China only.

During the three-month period, Vietnam spent US$3.55 billion importing goods from the US, up 16.8% year-on-year and making up 6% of the country’s total import revenue.

Computers, electronic products and spare parts were the largest and only group of items that reported a billion-dollar import turnover, at roughly US$1.17 billion.

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