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Vietnam trade surplus reached over 20 billion USD to US market

Sat, 20 Dec 2014. Last updated Thu, 25 Jun 2015 08:57

The United States has become one of important Vietnam export markets in recent years. It was estimated that Vietnam trade surplus to the American market reached 20 billion USD in 11 months of 2014. This number will continue increasing.

According to new figures of General Department of Vietnam Customs, in November 2014, the export turnover of Vietnam gained 13.23 billion USD, decreased 6% in comparison to the previous month. Meanwhile, Vietnam import turnover reached 12.79 billion USD, fell 9.1% compared to October. After two months of import surplus, November witnessed the return of trade surplus in the country. The new figures of General Department of Vietnam Customs show that in November 2014, Vietnam export turnover to the US market gained 2.51 billion USD. Simultaneously, Vietnam imported 495.78 million USD of commodities from this market. Therefore, it can be easily seen that Vietnam export surplus to American market in only November 2014 reached 2.02 billion dollars. The results achieved in 11 months of 2014 increased the Vietnam - US export and import turnover to 31.75 billion dollars, accounted for 11.7% the total turnover of import and export goods of the whole country.


Vietnam footwear


Regarding to the export, in November 2014, the export turnover from Vietnam to American market gained nearly 26.05 billion USD, which accounted for 19% the export turnover of the whole country. The statistics show that a majority of Vietnam exported products has presence in American market, in which there are 7 items are worth over 1 billion dollars including textiles (8.86 billion dollars); footwear (2.97 billion dollars); wood and wood products (2.02 billion dollars); computers, electronic products and components (1.96 billion dollars); aquatic products (1.57 billion dollars); phones and accessories (1.38 billion dollars); machineries, equipment and tools and spare parts (1.16 billion dollars). It is noteworthy that in November 2014, textiles and garments continue to be the highlight of Vietnam export to American market when nearly 50% Vietnam textiles and garments were exported to this market.


Dragonfruit - an export product of Vietnam


In the opposite side, the import turnover of Vietnam from the United States reached 5.7 billion dollars accounting for 4.3% the total import turnover of the whole country in November. Some main commodities that Vietnam import from America include machineries, equipment, and tools (833.04 million USD); computers, electronic products, and components (760.6 million USD); cotton (459.27 million USD); soybean (339.87 million USD); animal feed and raw materials (375.03 million USD);  materials for the textile and garments (238.77 million USD); wood and wood products (235.88 million USD); milk and dairy products (214.91 million USD); plastic materials (201.26 million USD); chemical products (198.47 million USD).

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