Vietnam-US trade in the first quarter of this year maintained its growth rate with total import-export turnover up 16.5 percent compared to the same period last year.

Following new statistics released by the US Department of Commerce, Vietnam-US two-way trade turnover reached over US$3.9 billion in the first quarter. Vietnamese exports to the US earned US$3.1 billion and imports cost over US$831 million.

Among the goods exported to the US, garments have the biggest export value, gaining US$1.3 billion, more than US$1.2 billion higher than last year. Wood and furniture is in second place, achieving nearly US$393 million, up 26 percent, followed by footwear with US$345 million, down 5.1 percent.

Vietnam’s exports to the US market shows a sharp increase compared to the same period in 2009. Twelve of fifteen kinds of goods imported from Vietnam have seen their turnovers rise.

Waste from the food industry was the biggest import, costing US$121.7 million, a rise of 575 percent year-on-year. Meat is in second position with US$84.6 million, up 10.6 percent, followed by machinery and spare parts, with US$77.3 million, up 20 percent.

In 2009 alone, Vietnamese exports to the US were valued at US$12.3 billion and imports from the US were US$3.1 billion. As a result, the two-way trade turnover reached US$15.4 billion, down 2 percent against 2008, because Vietnam’s export value to the US market fell by 5 percent and consumer demands decreased. 

Source: VOVNews