Corporate finance information

US is Vietnam’s biggest export markets


The US continued topping the list of 200 countries and territories importing Vietnamese goods in 2016, with a total import value of over 34.8 billion USD, according to the Government’s portal.

It was followed by China, Japan and the Republic of Korea, with respective values of 19.6 billion USD, 13.2 billion USD and 10.4 billion USD. 

Vietnam mainly shipped to the US products as garment-textile, footwear, machinery, equipment and spare parts, seafood, and timber products.

With a combined import turnover of over 78.1 billion USD, the four markets made up nearly 49 percent of Vietnam’s total export last year. 

In 2016, Vietnam recorded the highest growth in export to the RoK, with a year-on-year increase of 27.34 percent. The figures for China, the US and Japan were 26.68 percent, 14.58 percent and 3.1 percent, respectively. 

As of November 2016, Vietnam had eight groups of commodities exported to the US and six groups shipped to China that earned at least 1 billion USD.

The country’s total export revenue was estimated to grow up to 8.6 percent in 2016, reaching approximately 175.94 billion USD, reported the General Department of Customs. 

According to a resolution on the socio-economic development plan for 2017 adopted by the National Assembly, Vietnam targets a 6-7 percent rise in export-import revenue this year.