Vietnam’s export value to US reaches record high in August

Vietnam’s export value to the US reached US$4.89 billion in August, the highest level since January this year, according to the General Department of Vietnam Customs.

Processing tra fish for export (Photo: VNA)
Processing tra fish for export (Photo: VNA)

This figure rose 15% against July and 24% compared with that in August 2017. This was the third consecutive month in which the export value exceeded US$4 billion.

Most of Vietnam’s major export products to the US maintained a positive growth rate over the same period last year, including textiles, telephones, footwear, wood and wooden products, machinery and equipment.

Despite the rising US-China trade war, experts are still positive about the outlook of local exports to the US. According to the Ministry of Industry and Trade, so far, the structure of imports and exports between the US and Vietnam has not changed overall.

Vietnam mainly exports seafood, textiles, footwear, wood and wood products, computers, electronic products and components, and agricultural products to the US.

Meanwhile, it imports machinery, computers, electrical components, cotton, animal food and materials for animal food production, soybeans, machinery, equipment and tools.