U.S. is Vietnam’s largest export market, with an estimated turnover of US$ 7.6 billion in January

VCN - In January, the U.S. was Vietnam’s largest export market, with a turnover of US$ 7.6 billion. China is the largest import market, with a turnover worth US$ 8.1 billion.
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U.S. is Vietnam’s largest export market, with an estimated turnover of US$ 7.6 billion in January
The company processes Tra fish for export. Photo: V.S

In the month, the trade surplus to the E.U. is estimated at US$1.8 billion, down 45% year-on-year, to Japan at US$ 100 million, down 65.3%.

The trade deficit between China, South Korea and ASEAN is estimated at US$3.4 billion, US$2.5 billion, ASEAN US$1.3 billion, respectively.

According to the European-American Market Department (Ministry of Industry and Trade), in 2022, the trade surplus between Vietnam and the Americas region market, including the U.S., hit a record of US$ 100 billion for the first time.

The import and export turnover between Vietnam and the American markets sees a year-on-year increase of 10.7% to US$153.9 billion. As a result, Vietnam’s export turnover reached US$ 128.2 billion, up 12.4%, and its import turnover reached US$ 25.7 billion, up 3%.

The trade turnover with all major markets in the region records stable growth, such as the U.S. (11%), Brazil (6.6%), Canada (16.5%), Mexico (7.1%), Chile (9%), and Argentina (8.3%).

The total bilateral trade turnover to the U.S. market hit about US$123.86 billion, up 11% compared to 2021, of which Vietnam’s export turnover to this market grew by 13.6% year-on-year to US$109.4 billion.

Thanks to the positive effects of the CPTPP and VCFTA agreements, the import and export turnover between the country and four countries, Canada, Mexico, Chile and Peru, in 2022 increased by 10.9% compared to 2021 to US$15.2 billion, of which the export turnover at US$ 13.1 billion and import turnover at US$ 2.1 billion.

The two-way trade turnover between the country and South American trade bloc Mercosur (including Brazil, Argentina, Uruguay, and Paraguay) also goes up by 9.2% to over US$12 billion, including export turnover at US$3.3 billion and import turnover at US$ 8.7 billion.

The bilateral trade turnover with other regional markets recorded a good growth rate, such as Central America rising by 29.2% to US$1.12 billion, and Andean Community countries increasing by 12 .9% to US$1.1 billion.

By Ngoc Linh/Ngoc Loan

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