Specifically, Vietnam exported US$15.95 billion worth of commodities to the US market between January and March, representing a year-on-year increase of 19.9% and accounting for 25.5% of the total value.
Of the export items, six reported revenue of US$1 billion or above, including garments & textiles; phones; computers and electronic products; footwear; wooden products; and machinery, equipment and spare parts.
The US remained the largest importer of Vietnamese garment & textile products in Q1 with a turnover of US$3.3 billion, accounting for 47% of the country’s total garment & textile export revenue. In addition, the US rose to become a leading export market for Vietnamese phones and spare parts with revenue of US$2.67 billion, up 1.1% over the same period last year.
Particularly, Vietnam’s exports of computers, electronic products and spare parts to the US increased by more than twofold year-on-year to approximately US$1.96 billion, making it the second largest importer, behind China only.
During the three-month period, Vietnam spent US$3.55 billion importing goods from the US, up 16.8% year-on-year and making up 6% of the country’s total import revenue.
Computers, electronic products and spare parts were the largest and only group of items that reported a billion-dollar import turnover, at roughly US$1.17 billion.
