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Exports to US may fetch high revenue this fiscal

15
May '08
America Market Division under The Ministry of Industry and Trade (MOIT), expects that Vietnam exports to US market would reach nearly US $11 billion in 2008. On the other hand, the imports from the US would be approximately $1.7 billion.

According to MOIT, in first quarter of 2008, bilateral trade between Vietnam and US reached almost $2.891 billion, in which Vietnam exported commodities of approximately $2.3 billion, showing an increase of 8.1 percent and imported goods worth of $591 million, observing a hike of 101 percent.

Key products shipped to US include textile and garment worth nearly $1.10 billion, footwear fetched almost $227.54 million and crude oil generated $215.85 million of revenue for the nation.

Vietnam imported machines and equipments of approximately $88.77 million. The nation had to spend nearly $33.25 million on textile, apparel and footwear and cotton for $31.07 million.

Apparently, the local Government has been proposing the US authorities to grant Vietnamese products with US Generalized System of Preferences (GSP).

Fibre2fashion News Desk - Vietnam


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