US becomes largest export market for Vietnamese goods in January

China ranked second among the country’s biggest export markets with US$5.8 billion, a huge increase of 111.6% from the same period last year, followed by the EU, ASEAN, Japan, and the Republic of Korea.

January saw the import turnover of goods enjoy a strong surge of 41% to US$26.4 billion compared to the last year’s corresponding period.

In contrast, China remains the largest importer of Vietnamese goods with import turnover reaching US$9.6 billion, marking a rise of 72.7% on-year, followed by the Republic of Korea, ASEAN, Japan, the EU, and the US.

The nation racked up a trade surplus of US$1.3 billion during January, of which the domestic economic sector recorded a trade deficit of US$1.8 billion, while the foreign-invested sector run a trade surplus of US$3.1 billion.

The country also enjoyed a trade surplus of US$1.5 billion with the EU, while suffering a trade deficit of US$3.8 billion, US$3.4 billion, and US$1.1 billion with China, the Republic of Korea, and ASEAN, respectively.