VGP – Viet Nam-US trade turnover in 2013 may reach US$28.7 billion, up 15.3% compared to 2012.
Viet Nam’s export value to the US attained US$23.7 billion, up 16.7%, and her import value was worth US$5 billion, according to the US Department of Commerce (DOC).
Viet Nam has in recent years consecutively recorded a trade surplus with the US, which exceeded US$10 billion since 2010.In 2012, the country made a trade surplus of US$14.8 billion.
This year, the US import of apparels from Viet Nam may reach US$8.5 billion, a double-digit increase (up 10.4%) over the US$7.7 billion in 2012.
Viet Nam's export of textiles and apparels accounts for about 36% of total export to the US and makes up 50% of the nation’s textiles export turnover.
Viet Nam ranks fifth among the largest garment exporters to the US.
Besides, export of other products such as timber, seafood and footwear is also expanded, crucially contributing to Viet Nam’s export turnover to the US.
Viet Nam is projected to post the strongest growth rate in export, to reach US$16.4 billion by 2025. The projections are based only on the assumption that present trends will continue, and do not include the expected impact of the Trans-Pacific Partnership (TPP) agreement.
One estimate projects Viet Nam’s apparel export to the US under TPP would be as high as US$22 billion by 2020 and another projects that Viet Nam’s appareland footwear export will increase by 45.7% by 2025./.