Vietnam Pockets Biggest Trade Surplus with U.S.

Tuan Minh

11:29 21/05/2016

BizLIVE - The U.S. has offered the largest trade surplus with Vietnam in recent years.

Vietnam Pockets Biggest Trade Surplus with U.S.

The U.S. was Vietnam's second largest trade partner in the first four months of this year. (Photo: Internet)

Vietnam has recorded the largest trade surplus with the U.S. over the past years, with the value reaching $25.67 billion in 2015, widening from a surplus of $22.35 billion in 2014, according to data of the General Department of Vietnam Customs.
In the first four months of 2016, the trade surplus reached $8.98 billion, $1.48 billion higher than that in the same period of 2015.
The U.S. was Vietnam’s second largest trade partner between January and April, only after China, with the trade turnover reaching $13.92 billion, accounting for 13.5% of the Southeast Asian country's total external trade.
In the four-month period, Vietnam’s exports to the U.S. market increased 15.8% year-on-year to $11.45 billion, making up 21.6% of the country’s turnover. Foreign-invested enterprises in Vietnam fetched $8.35 billion, up 17.7% from a year earlier.

Vietnam spent $2.47 billion on importing goods from the U.S. in the period, up 3.3% from a year earlier, making the U.S. the country’s fifth-largest import market.

The two-way trade flow increased 19% annually on average in the past 10 years, topping $41.26 billion in 2015, the department said.