US-Vietnam trade turnover continues rising

June 12, 2011 | 21:22

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Vietnam ’s total exports to the US have shot up in the first four months of this year by 21 per cent against the same period last year to $5.05 billion, according to the US Census Bureau.

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Turnover of all the top five Vietnam 's exports to the US in the four months saw increases over the same period last year, with articles of apparel and clothing accessories gaining the highest export value of $1.99 billion, a year-on-year increase of 18 per cent.

It was followed by footwear with value of $593.3 million, up 26.5 per cent; and furniture and bedding with value of $523.9 million, up 2.7 per cent.

Coming fourth was electrical machinery and equipment, sound recorders and reproducers with value of $263.2 million , up 23 per cent, while fish and crustaceans was ranked fifth with value of $202.3 million , up 46 per cent.

In the reviewed period, US exports to Vietnam increased by 24 per cent against the same period last year to $1.43 billion. Among US exports, cotton, including yarns and woven fabrics thereof recorded the highest value of $214.1 million, up 273 per cent over the same period last year.

The US is also trying to boost the export of machinery and mechanical appliances and parts, vehicles, electrical machinery and equipment, and meat and edible meat to the Southeast Asian country.

Vietnam 's Commercial Counselor estimated that US-Vietnam trade turnover in 2011 would increase by 10 per cent over last year's $18.3 billion.

Meanwhile, the US Chamber of Commerce predicted that Vietnam 's exports to the US would be higher than 2010 of $15 billion.

VIR/VNA

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