US-Vietnam trade turnover continues rising

Vietnam’s total exports to the US have shot up in the first four months of this year by 21 percent against the same period last year to 5.05 billion USD, according to the US Census Bureau.

Turnover of all the top five Vietnam’s exports to the US in the four months saw increases over the same period last year, with articles of apparel and clothing accessories gaining the highest export value of 1.99 billion USD, a year-on-year increase of 18 percent.

Vietnam News Agency file photo shows Vietnamese garment workers at a factory

It was followed by footwear with value of 593.3 million USD, up 26.5 percent; and furniture and bedding with value of 523.9 million USD, up 2.7 percent.

Coming fourth was electrical machinery and equipment, sound recorders and reproducers with value of 263.2 million USD, up 23 percent, while fish and crustaceans was ranked fifth with value of 202.3 million USD, up 46 percent.

In the reviewed period, US exports to Vietnam increased by 24 percent against the same period last year to 1.43 billion USD. Among US exports, cotton, including yarns and woven fabrics thereof recorded the highest value of 214.1 million USD, up 273 percent over the same period last year.

The US is also trying to boost the export of machinery and mechanical appliances and parts, vehicles, electrical machinery and equipment, and meat and edible meat to the Southeast Asian country.

Vietnam’s Commercial Counselor estimated that US-Vietnam trade turnover in 2011 would increase by 10 percent over last year's 18.3 billion USD.

Meanwhile, the US Chamber of Commerce predicted that Vietnam’s exports to the US would be higher than 2010 of 15 billion USD.

Source: Vietnam News Agency

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