VietnamCredit
VietnamCredit About Us Cafe€redit Contact Us
Login Register
0
USD
GO TO CART
Check out

America is Vietnam No.1 export market during Covid-19

Tuesday 05, 05 2020
In the first 4 months of 2020, the total export turnover of Vietnam is estimated to be at 163 billion USD
America is Vietnam No.1 export market during Covid-19

Increasing by 3.4% compared to the same period last year, in which America is The United States is Vietnam's largest export market.

The export statistics

According to the latest statistics from the General Department of Customs, in the first 4 months of 2020, the total export turnover reached 162.83 billion USD, increasing by 3.4% compared to the same period last year. In which the export turn over reached 82.9 billion USD, increasing by 4.7%; that of imports reached 19.8 billion USD, increasing by 2.1%. The commodity trade balance in 4 months has a trade surplus of 3 billion USD.

Notably, according to the General Department of Customs, in the first 4 months of the year, there were 15 goods categories with an export turnover of more than 1 billion USD, accounting for 80.1% of the total export turnover. Some categories with high export value are: phones and parts; electronics, computer, and parts; textiles; machinery and equipment; footwear; wood and wood products; etc.

Regarding markets, the statistics from the General Department of Customs show that America is the biggest export market of Vietnam in the first 4 months of the year with a turnover of 20.3 billion USD, increasing by 13.4% compared to the same period last year.

It is followed by China, which reached 13.1 billion USD, increasing by 26.7%. Moreover, the EU market reached 10.7 billion USD, decreasing by 8.1%. The ASEAN market was at 8.2 billion USD, dropping by 3.4%. The Japanese and South Korean markets were respectively at 6.7 and 6.2 billion USD.

Some import indices

America is Vietnam No.1 export market during Covid-19

Meanwhile, the import turnover in the first 4 months of the year is estimated to be 79.89 billion USD, with China being the biggest import market of Vietnam with an estimated turnover of 22.7 billion USD, which is 0.1% lower compared to the same period last year.

Notably, in the first 4 months of the year, some commodity categories majorly contributing to the revenue of the Customs industry decreased sharply. For example, CBU imported cars were 33,000 units, worth 710 million USD, decreasing by 35.2% in volume and 36.6% in value over the same period in 2019; Imported gasoline was estimated at 2,841 million tons, worth 1.125 billion USD, and declining by 7.3% in volume and 40.5% in value over the same period in 2019, etc.

​>> Covid-19 obstructs Vietnamese goods to the EU, US

Source: https://cafef.vn/dich-covid-19-my-la-thi-truong-xuat-khau-so-1-cua-viet-nam-20200503204020701.chn

Categories:
Vietnam Economy

You may also like

Vietnamese consumers preferring domestic products
Wednesday 08, 07 2020

Vietnamese consumers preferring domestic products

The Covid-19 pandemic has motivated Vietnamese consumers to give higher...
A glance at Vietnam’s financial & banking industry 2020
Wednesday 01, 07 2020

A glance at Vietnam’s financial & banking industry 2020

As of June 19, 2020, Vietnam’s credit growth reached only 2.45% while insurance...
+84 37 99 44 511