Vietnam’s exports to the US estimated at 40 billion USD this year
The Ministry of Industry and Trade (MoIT) has forecast that Vietnam’s exports to the US will hit 40 billion USD this year, according to the Industry and Trade newspaper.
Hanoi (VNA) – The Ministry ofIndustry and Trade (MoIT) has forecast that Vietnam’s exports to the US willhit 40 billion USD this year, according to the Industry and Trade newspaper.
In the first half of the year, the figurereached 19.6 billion USD, up 9.5 percent annually but lower than the 12.8percent growth last year, partly due to the US’s slower economic growth.
Statistics from the US’s International TradeCommission showed that in January-May, Vietnam ranked second among countries interms of export growth to the US, accounting for 8.9 percent, behind Ireland (up22 percent) and India (up 9 percent) and above China (up 7.1 percent).
Among Vietnam’s top foreign currency earnersin the five months, garments rose 6.9 percent, wood and wooden furniture jumped16.8 percent while footwear rose 13.2 percent.
Earnings from computers, electronics and spare parts were valued at 1.05 billionUSD in January-May, down 1.5 percent. Cell phone shipments surged 46.7 percentduring the period, with a double increase in ASEAN and China and 121 percentand 104 percent rises in India and Mexico, respectively.
Fisheries exports to the US fell by 6.7percent to 483.4 million USD. However, the total exports of the products rose13.8 percent due to increased shipments to the European Union and China.
Machinery, computers and spare parts exportedto the US are mostly made by foreign firms.
Vietnamese exporters to the US face obstaclesvia technical barriers and thorough food quality and safety requirements.
The MoIT recommended that they devise plansto improve competitiveness and food quality to expand their market share.-VNA
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Purchasing rice in Dong Thap (Source: VNA) 
