U.S. buys up over $10 billion worth of Vietnamese goods in first four months

By FinancePlus/Dam Tuan May 17, 2016 | 04:29 am PT

The U.S. was Vietnam's first export market to break the $10 billion barrier in the first four months of the year, and continued to be Vietnam’s largest export market making up nearly 21.6 percent of the nation’s total export value during that period.

According to Vietnam Customs, Vietnam exported $11.45 billion worth of goods in the first four months to the world's largest economy, eclipsing China that accounted for only $5.9 billion.

The U.S. is vital market for Vietnam, and exports of textiles, mobile phones and shoes all topped $1 billion in the year to April 30.

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The U.S. continued to be Vietnam's largest export market in the first four months of 2016. Photo by FinancePlus

Textile products accounted for $3.4 billion, making up approximately 50 percent of the commodity's total export value in the first four months and contributing nearly 30 percent of total export value from Vietnam to the US.

Mobile phones registered $1.47 billion in export value, while shoes reached $1.33 billion.

Besides the three “billion dollar” export commodities, Vietnam also shipped wood and wooden products ($825 million), computers and components ($820 million), and machinery, equipment and engineering tools ($632 million) to the U.S.

Vietnam's exports topped over $10 billion to three markets last year, with the U.S. leading the way with $33.5 billion, followed by China ($17.1 billion) and Japan ($14.1 billion).