VietNamNet Bridge – There were 29 foreign markets generating export revenue of more than US$1 billion each for Vietnam last year, according to the General Department of Customs.

Employees are at work at a production facility of a garment enterprise. Apparel is one of Vietnam’s major export earners – Photo: Quoc Hung

The 29 markets contributed US$147.36 billion to Vietnam’s total exports of US$162.11 billion in 2015. These markets accounted for around 91% of the nation’s total exports.

The United States was Vietnam’s biggest goods importer with US$33.48 billion n 2015, up 16.9% against 2014. Vietnam had a trade surplus of US$25.68 billion with America last year.

Vietnam exported around US$11 billion worth of apparel to the U.S., followed by footwear with US$4 billion and computers, electronic items and components with US$2.83 billion.

China was Vietnam’s second largest goods importer with US$16.6 billion, up 11.2% year-on-year, followed by South Korea with US$8.93 billion, an increase of 25.03%.

Vietnam’s two-way trade with other Asian markets stood at US$214.9 billion last year, rising by 8.9% over 2014, and these markets made up the biggest proportion of the total, at 65.6%.    

America ranked second with US$55.42 billion, up 18.6%, but took the lead in terms of export growth.

In terms of continent, goods exports to the EU reached US$46.55 billion, climbing 9.4%, followed by Africa with US$5.11 billion (up 9.8%) and Australia with US$5.79 billion, down 16.2% versus 2014.

Data of the General Department of Customs showed China was Vietnam’s biggest exporter with US$49.52 billion in 2015, a year-on-year rise of 13.9%.

The northern neighbor sold US$9.03 billion worth of machinery, equipment, tools and parts, up 15%; US$6.9 billion worth of phones and phone parts, up 8.7%; US$5.22 billion worth of fabrics, up 12.1%; and US$5.21 billion worth of computers, electronic products and parts, up 13.9%.           

Vietnam bought US$27.63 billion worth of goods from South Korea in 2015, an strong increase of 27% versus 2014. Imports were chiefly computers, electronic items and components valued at US$6.7 billion (up 33.5%); machines, equipment, tools and parts at US$5.11 billion (up 62.6%); and phones and phone components at US$3.02 billion (up 76%).

Last year, Vietnam spent US$14.37 billion on imports from Japan, increasing 11.15% from a year earlier. The nation bought nearly US$11 billion worth of goods from Taiwan, down 0.78%; and US$8.28 billion from Thailand, growing 16.79%.

Vietnam had trade ties with over 200 countries and territories last year. Its exports amounted to US$162.11 billion, a rise of 7.9% year-on-year, and imports stood at US$165.65 billion, up 12%, leaving a trade deficit of US$3.54 billion.

Hung Le

SGT