Viet Nam’s exports to U.S. up nearly 22% in five months
VGP - Viet Nam earned nearly US$70 billion from exporting to the U.S. in the first five months of the year, a year-on-year increase of 21.7 percent, reported the Department of Customs.
During January-May, the U.S. remained Viet Nam's largest export market.
The strongest growth driver was the category of computers, electronic products, and components, totaling US$22.5 billion, up 54.9 percent from the same period last year and making up 64 percent of the total rise in Viet Nam's exports to the U.S., underscoring the significant role of the electronics industry in the country's export structure.
In addition to electronics, several other manufactured goods also recorded positive growth. Exports of machinery, equipment, tools, and spare parts reached US$11.2 billion, up 21 percent year on year; vehicles and parts US$1.6 billion, up 22.5 percent; electrical wires and cables US$751 million, up 30.4 percent, while the exports of cameras, camcorders, and components hit US$711 million, rising 25.1 percent.
Other key export items included phones and components US$4.57 billion, up 3.7 percent; iron and steel products US$708 million, up 21.2 percent; and chemical US$59.4 million, up 109 percent.
Meanwhile, several of Viet Nam's long-established key exports to the U.S. experienced declines, such as wood and wood products with US$3.4 billion, down 8 percent and seafood exports US$702 million, a decline of 8.4 percent.
Viet Nam's export structure to the U.S. is undergoing a clear transformation, with electronics, computers, and technology-related products accounting for an increasingly larger share of total exports. This trend reflects the nation's growing importance in the global technology supply chain./.
