In the first half of this year, Việt Nam exported about US$55 billion worth of goods to the US, up 26 per cent year-on-year, ranking first in terms of turnover growth, far surpassing other markets such as the EU, ASEAN and...
Việt Nam exported US$25.77 billion to the US during the first three months, accounting for 27.7 per cent of the Southeast Asian economy''s total export turnover.
The Southeast Asian economy''s trade surplus, however, remained positive at $125 billion this year, $33 billion with the EU and $92 billion with the US.
Despite a significant decrease in the first eight months of the year, Việt Nam’s export of wood and wood products to the US market has seen many positive signals.
Export orders of Vietnamese wood enterprises to the US market tended to decrease due to the country''s initiation of investigations and weak demand amid increased inflation.
Viet Nam’s furniture exports to the US have risen sharply in recent times, but to sustain the growth firms need to focus on complying with regulations in that market, including sustainable development norms, experts have said.
Shrimp exports to the US have been unaffected by the Covid-19 outbreak, and are expected to increase by 20 per cent this year, according to the Viet Nam Association of Seafood Exporters and Producers.
Demand for footwear products in the US saw declines in January-May and the downward trend was forecast to continue for the remaining months of this year.
The Vietnamese steel industry is expected to face difficulties this year due to an increase in production capacity, falling demand and protectionist measures by countries to reduce imports.
Viet Nam’s total steel exports in the first two months of the year rose 38.6 per cent from the same period last year to reach more than 728,000 tonnes, according to the Viet Nam Steel Association (VSA).
The Handicraft and Wood Industry Association of HCM City (HAWA) has projected exports of wooden products to reach US$7.2 billion this year, up from $6.9 billion last year.
Viet Nam''s exports to the US topped US$2.65 billion in July, rising 6.4
per cent month-on-month while increasing by 23 per cent compared with
same period last year.