AsemconnectVietnam - In the first quarter of 2023, Vietnam’s export turnover to the largest market, the United States, dropped sharply to 5.5 billion USD, equivalent to a decrease of 21% compared to the same period last year.

According to the preliminary data recently announced by the General Department of Customs, in March, Vietnam’s exports to the US market reached 7.75 billion USD, thereby bringing the total export turnover to the largest economy in the world in the first quarter to 20.76 billion USD.
Although still maintaining the position of Vietnam's largest export market, the country’s export turnover in the US market sharply decreased by 5.5 billion USD compared to the same period last year (in the same period last year, the figure reached 26.26 billion USD).
In the first quarter of this year, there were 6 groups of goods exported to the US with a turnover of 1 USD or more.
Leading the way was machinery, equipment, tools and spare parts with 3.98 billion USD; followed by computers, electronic products and components with 3.55 billion USD; textiles with 3.04 billion USD, phones and components with 2.34 billion USD; footwear 1.42 billion USD; wood and wood products with nearly 1.4 billion USD.
On the other hand, Vietnam's imports from the US market in the first quarter reached more than 3 billion USD, down more than 400 million USD, equivalent to about 12% of the figure of the same period last year.
The largest group of imported goods were computers, electronic products and components with 598.7 million USD; followed by soybeans with 230.4 million USD; machinery, equipment, tools and spare parts with 186.8 million USD; plastic raw materials with 184.8 million USD; and chemicals with 163.6 million USD, etc.
Thus, in the first quarter of this year, the total import-export turnover between the two countries reached 23.8 billion USD, of which Vietnam had a trade surplus of more than 17.7 billion USD.
CK
Source: VITIC/ haiquanonline.com.vn