The USA is Vietnam's largest export market

Import and export activities in January reached a high rate compared to the same period last year, mainly due to Samsung boosting the export of mobile phone products with the new S21 version and the Lunar New Year last year fell in January.

According to the General Statistics Office, exports of goods in December 2020 reached US$27,653 million USD, $1,153 million higher than estimated. It is estimated that in January 2021, export turnover of goods reached $27.7 billion, up 0.2% over the previous month and up 50.5% fromthe same period last year.

In January, there were sixitems with an export turnover of more than$1 billionaccounting for 67.3% of total export turnover. Regarding the structure of export goods group in January, the group of heavy industrial goods and minerals was estimated at $15.6 billion, up sharply by 71.6% fromthe same period last year.

Light industry and handicraft products were estimated at $9.7 billion, up 32.3%. The group of agricultural and forestry products reached $1.8 billion, up 21.4%. Seafood products reached $600 million, up 19.6%.

Regarding the commodity export market in January 2021, the US was the largest export market of Vietnam with turnover of $7.5 billion, an increase of 57.4% over the same period last year; followed by China with $5.8 billion, up 111.6%.

The EU market reached $2.8 billion, up 14.8%; ASEAN market reached $2.3 billion, up 31.9%; Japan reached $1.9 billion, up 22.7%; and South Korea reached $1.7 billion, up 24.2%.

Source: Customs News