Vietnam's 08 Exports to U.S. Soar 19 per cent to US$12.2 Bln

Vietnam reportedly obtained US$12.2 billion from goods exports to the U.S. in 2008, a high on-year increase of 19 per cent despite the global financial crisis and economic downturn, the Saigon Times Weekly newspaper reported, citing the Ministry of Industry and Trade (MoIT).

 

Most of Vietnam’s exports reported high growth rates, including apparel with US$4.47 billion, up 22.5 per cent, woodwork products with US$1.18 billion, up 19.3 per cent, footwear with US$1 billion, up 14.6 per cent, audio-visual equipment with US$396.59 million, up 33.4 per cent and paper products with US$93.36 million, up 67.8 per cent.

 

The MoIT forecast that the country’s export value to the U.S. will see lower growth in the next two years with 14 per cent or US$13.9 billion in 2009 and US$14 billion in 2010.

 

The U.S. is now Vietnam’s largest export market while the ASEAN country has been listed among 30 biggest exporters to the U.S. in 2007, according to a report by the U.S. International Trade Commission (ITC).

 

Bilateral trade between the two countries is expected to surpass US$15 billion this year, as compared with US$12.44 billion in 2007. (Saigon Times Weekly)