US remains largest importer of Vietnamese goods

Chủ Nhật, 19/03/2023, 14:00

In February, the US remained the biggest importer of Vietnamese goods with a revenue of about 6.9 billion USD, according to the General Department of Customs.

In February, the US remained the biggest importer of Vietnamese goods with a revenue of about 6.9 billion USD, according to the General Department of Customs.

US remains largest importer of Vietnamese goods -0
US remains largest importer of Vietnamese goods.

By the end of February, Vietnam had 4 groups of goods exported to the US market with a value of 1 billion USD or more, including: Machinery, equipment, other tools and spare parts (2.5 billion USD); computers, electronic products and components (2.2 billion USD); phones and components (1.6 billion USD); textiles (nearly 2 billion USD).

In contrast, Vietnam's imports from the United States in the first two months of the year reached $1.9 billion, down 14% over the same period last year. Thus, in the first two months of the year, Vietnam had a trade surplus of more than 11 billion USD to the US.

According to experts, many countries are facing the threat of inflation and economic recession, leading to reduction in global consumption, thus affecting Vietnam’s import-export activities.

Export activities showed signs of slowing down from the fourth quarter of 2022 with fewer orders, it said, adding that 2023 is likely to be a tough year for Vietnam’s import-export.

According to the Ministry of Industry and Trade (MoIT), Vietnam’s exports depend on many outside factors, but tax reduction from free trade agreements that Vietnam has joined and the strengthening of socio-economic recovery and development will motivate exports this year.

In 2023, the MoIT sets a target of a 6% rise in goods export revenue, with trade surplus maintained.

By TM