Expectation for Vietnam’s billion-dollar-export markets

The Hanoitimes – 2017 ended with an impressive trade value of US$ 212 billion, an increase of 21% over the last year’s figure. Expectation thus will be even higher for 2018, as such, Vietnam’s billion-dollar-export markets will once again in the focus of attention. By the end of 2017, among 200 countries and regions maintaining trade relation with Vietnam, 4 markets have spent tens of billion of USD importing Vietnamese goods, including the US (US$ 41.5 billion), followed by China (US$ 35.3 billion), Japan (US$ 16.8 billion) and Korea (US$ 15 billion).    Illustration photo. These countries will continue to be main markets with major contribution to Vietnam’s export growth in 2018, said the Ministry of Industry & Trade. In the context of large global apparel exporters such as China, Bangladesh and Turkey witnessed drops in export value of 1.2%, 1.32% and 4% respectively, Vietnam’s textile & garment industry had achieved the export target of US$ 31 billion in 2017, indicating the necessity to prioritize main export markets.  As the largest market for Vietnam’s textile & garment industry, export value to the US accounted for US$ 15 billion, in which apparel products reached US$ 12.5 billion and US$ 3 billion for other products. Therefore, changes in demand from markets like the US will have big impact to Vietnam’s prospect in fulfiling target export value.  For China, despite the apparel’s export value is less than one fifth of the US, but out of the textile’s export value of US$ 3.6 billion,… [Read full story]


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