The US was the largest export market of Vietnam in the in the January-March period, accounting for nearly 20% of the country’s total export revenue.

However, Vietnam’s exports to the US in the period rose by a mere 4.1% while imports jumped 32.1%, making Vietnam’s trade surplus with the highly lucrative market down to US$ 6.4 billion from US$ 6.7 billion.

Vietnam’s key export products to the US included garment, footwear, wood and timber products and the country has always enjoyed trade surplus with the American nation, reaching more than US$29.7 billion last year.

According to the Import-Export Department under the Ministry of Industry and Trade, the Southeast Asian nation currently ranks 12th among exporters to the US and 36th among importers after 20 years of normalization of diplomatic relations.

Exports to the vast market have also grown sharply over recent years from US$1 billion in 2001 to US$38.46 billion in 2016 and are likely to exceed US$40 billion this year.

VOV