Exports from Vietnam to US show signs of recovery
(VNA) The Ministry of Industry and Trade expects exports to the US market to climb slightly to 12.7 billion USD this year from 12 billion USD in 2008.
This estimate is based on four consecutive months of growth in export revenues to the world’s largest economy, said the ministry.
Garments, wood and wooden furniture, electronics and components are major hard currency earners. In regard to garments alone, the industry earned 2.2 billion USD from exports to the US market in the first half of this year, representing 55 percent of its total export revenues over the period.
Statistics released by the US customs office have shown that Vietnam cornered 4.7 percent of the US garments market in the first quarter against 3.4 percent in the same period last year. Jackets are becoming increasingly popular with US consumers.
Agricultural produce such as coconuts, maize and bananas have also performed well in the US market and exports of dragon fruit have resumed after a substantial lull in demand.
However, exporters have been warned of continued numerous protective barriers being brought in by the US authorities, including anti-dumping tariffs imposed on Tra and Basa fish and shrimps.
The head of the US Market Policy Department, Vu Duy Khien, under the Ministry of Industry and Trade warned that garments would face much fiercer competition after the US Congress passes a resolution on tax exemptions for imports from the 14 poorest Asian countries./.
