Six export markets of billion growth of Vietnam
By the end of May, Vietnam's major export markets maintained impressive growth, with six markets increasing by 1 billion USD or more compared to the first five months of 2023, according to the General Department of Vietnam Customs.
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According to the General Department of Vietnam Customs, by the end of May, there were six export markets experienced billion-dollar growth including United States, EU, China, ASEAN, Hong Kong (China), and the Republic of Korea (RoK).
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| There were six export markets experienced billion-dollar growth by May 2024. |
Accordingly, exports to the US market reached US$44.44 billion, an increase of 22.3% (equivalent to a growth of US$8.11 billion) over the same period last year, accounting for 28.4% of the total turnover of the whole country. With this result, the United States continues to be Vietnam's largest export market.
Exports to the EU reached US$20.29 billion, an increase of 14.1% (equivalent to a rise of US$2.52 billion) over the same period last year.
China ranks 2nd in terms of export turnover scale but ranks 3rd in terms of increased turnover. Specifically, Vietnam's exports to China reached US$22.46 billion, an increase of 10.8% (equivalent to a growth of US$2.19 billion) over the same period last year.
Exports to the ASEAN market was US$14.97 billion, increasing by 11.3% (equivalent to a growth of US$1.52 billion) over the same period last year.
Exports to Hong Kong (China) reached US$4.67 billion, arising 38% (equivalent to an increase of US$1.29 billion) over the same period last year.
Exports to the Korean market reached US$10.21 billion, increasing 11.1% (equivalent to a growth of US$1.02 billion) over the same period last year.
Overall, from the beginning of the year to the end of May, the country's merchandise exports reached US$156.28 billion, an increase of 14.9% (equivalent to a rise of US$20.23 billion) compared to the same period last year.
