The FDI sector remains export pillar of Vietnam’s economy. (Photo: VNA) Exports of items as phones, computers, machinery,equipment and garments-textiles experienced strong growth, ranging from 4.1%to 33.9%, Dau tu (Investment) Newspaper reported.
Meanwhile, electronic products, garments-textiles andfootwear, among others, gave a boost to the import of materials in service ofproduction, which saw a year-on-year rise of 18%.
In the two months, Vietnam posted a trade surplus of4.72 billion USD, with the FDI sector, including crude oil, recording a tradesurplus of 8.25 billion USD.
Notably, the US imported 17.4 billion USD worth ofgoods from the Southeast Asian nation, a year-on-year increase of 33.7%. Vietnamran a trade surplus of 15.2 billion USD with the US, up 36.3% from the sameperiod last year.
Almost most-purchased items were supplied by FDIfirms, including computers, phones, electronics and components, machinery,equipment and spare parts, garments-textiles, and footwear.
Once fully tapped, the US market would offer over100 billion USD in export revenue to Vietnam in 2025, said Trade Counsellor andhead of the Vietnam Trade Office in the US Do Ngoc Hung.
Hung, however, noted that more trade barriers have beenset up by the US to protect domestic production, and advised Vietnamese managementagencies, businesses and localities to stay updated on changes in politics andpolicies in the country to take timely response.
In January and February, Vietnam also shipped 7.7billion USD worth of goods to the European Union (EU), a surge of 14.2%year-on-year, and the rise is expected to continue in the time ahead thanks tothe EU-Vietnam Free Trade Agreement (EVFTA).
After the deal came into force in August 2020, thetwo-way trade has experienced double-digit growth, as compared with a 5%-7% risein Vietnam’s exports to the EU, and 3%-5% in imports in the previous period./.
VNA
