Exports to the United States rise by more than US$ 1.5 billion in January, 2019

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The proportion of the 4 largest export commodity groups to the United States in January 2019. Chart: T.Binh

According to a recent announcement by the General Department of Customs, exports to the US in January 2019 are very prosperous with a turnover of more than US$ 5.151 billion, rising by 42.1%, equivalent to an absolute figure of US$ 1.527 billion compared to the same period in 2018.

Notably, the export growth rate to the US is 4.7 times higher than the national average rate. This is a rare occurrence, there was a period that the export growth rate to the US was still lower than the national average rate.

In the first month of the year, Vietnam had the first billion-dollar export commodity group to the United States. It was textiles and garments, this quantity and this commodity was not different from the same period in 2018 but there was a significant increase in value of textiles and many key commodity groups in Vietnam's largest export market.

Specifically, textiles export turnover reached US $ 1,591 billion, up 34.1%.

In addition to textiles, only in January, there were 8 groups of products exported to the US market with a turnover of US$ 100 million or more.

Other key commodity groups included footwear with a turnover of US$ 620 million, up by US$ over 100 million; wood and wooden products with a turnover of nearly US$ 475 million, up by US$ 156 million.

In particular, in the first month of the year, the export turnover of mobile phones to the US reached nearly US$ 473 million, up by 121%, equivalent to an increase of US$ 259 million. The surge in turnover in the US market is in contrast to the decrease in the overall turnover of the mobile phone group in January (January export turnover of mobile phones decreased by 16.3%).

With the above value, in January 2019, the US accounted for 23.3% of the country's total export turnover.

Also in January, the country spent US$ 1,076 billion to import goods from the US market.

Thus, in January 2019, our country achieved a trade surplus of over US $ 4 billion with the US.

In 2018, the export turnover to the United States reached US$ 47,525, up by US$ 5.934 billion compared to 2017 (in 2017 it was US$ 41.591 billion), equivalent to the growth rate of nearly 14.3%.

In 2018, the US accounted for 19.52% of the country's total export turnover.

The export growth rate to the US in 2018 is a remarkable improvement, because it is not only a higher number than the national average (13.2% nationwide) but also much higher than growth rate of over 8% in 2017 compared to 2016.

Among the dozens of key export groups to the US, the Customs Authority pointed out 10 export commodity groups worth US$ 1 billion or more.

Textiles reached US$ 13.67 billion USD, became the largest export group to this market and the US was also the largest importer of Vietnam's textile products.

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Textiles export turnover increased by more than US$ 1 billion from the previous year, in 2017, it was US$ 12.275 billion.

In addition, the US was also the largest importer of footwear; wood and wood products of Vietnam. Footwear exports reached US$ 5.823 billion; wood and wood products reached US$ 3.897 billion USD and so on.