Vietnam's trade surplus with US in first quarter reported at $12.4 billion

Vietnam's export revenue to the US, the world's largest economy and the country 's largest export market, reached $15.95 billion, representing an increase of 19.9% year-on-year, and accounting for 25.2% of the country’s overall export turnover.

Export staples to the highly lucrative market were textiles and garments, telephones, computers, electronic products, footwear, wood products, machinery, equipment, and auxiliary tools with a turnover of $1 billion or more.

In the first quarter, the US remained Vietnam's largest textile and garment export market with a value of $3.3 billion.

Despite a slight fall of $20 million in comparison to the same period last year, the huge market still made up 47% of the country's total textile and garment export turnover. Textiles and apparel are also the Southeast Asian nation's largest export earner.

In addition, the US emerged as the largest buyer of Vietnamese mobile phones and components with a turnover of $2.67 billion, up 1.1%.  

Notably, the US became the second biggest importer of Vietnamese computers, electronic products, and components, just behind China, with a value of close to US$1.96 billion, more than two times higher than last year's same period.

In terms of imports, Vietnam spent $3.55 billion on importing goods from the US during the first quarter, a year- on- year rise of 16.8%, occupying 6% of the country's total import turnover.

Computers, electronic products, and components were among key imports from the US market, reaching nearly US$1.17 billion in turnover.

Source: VOV