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US remains Vietnam’s largest export market in Jan-Nov
Ngoc Mai 00:11, 2018/12/15
Vietnam recorded trade surplus of US$0.15 billion in November, expanding the trade surplus in 11 months to a record high of US$7.41 billion, compared to a trade surplus of US$2.11 billion in the entire 2017.
The US remained Vietnam’s largest export market in the January – November period with turnover of US$43.45 billion, up 14.3% year-on-year and accounting for 19.4% of Vietnam’s total exports, according to the General Department of Vietnam Customs (GDVC). 
 
Illustrative photo.

 
Meanwhile, Vietnam imported goods worth US$11.70 billion from the US during the same period, up 37.9% year-on-year and accounting for 5.4% of the country’s overall imports. 

This resulted in Vietnam’s trade surplus of US$31.75 billion to the US, the largest among Vietnam’s trading partners. 

Among Vietnam’s major export markets, EU came in the second place with US$38.80 billion in the first 11 months of 2018, up 10.5% year-on-year or 17.3% of Vietnam’s exports, followed by China with US$37.66 billion, up 22% or 16.8%

China was Vietnam’s largest import market during the January – November period with US$59.59 billion, up 12.8% year-on-year and accounting for 27.5% of Vietnam’s total imports. 

South Korea and ASEAN claimed Vietnam’s second and third largest import markets, reaching turnovers of US$43.60 billion and US$29.05 billion, up 2.1% and 13.6%, respectively. 

In November, Vietnam’s trade turnover reached US$43.34 billion, down 2.1% month-on-month, in which exports amounted to US$21.75 billion, down 3.5% and imports US$21.59 billion, down 0.8%. 

The country’s trade turnover in the first 11 months stood at US$440.04 billion, up 13.3% year-on-year, for which exports and imports were reported at US$223.72 billion and US$216.31 billion, up 14.5% and 12.1%, respectively. 

Overall, Vietnam recorded trade surplus of US$0.15 billion in November, expanding the trade surplus in 11 months to a record high of US$7.41 billion, compared to a trade surplus of US$2.11 billion in the entire 2017. 
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