Vietnam exports to US rise 28 pct as China-US trade war intensifies

29.05.2019

There has been a surge in Vietnam’s exports to the U.S. whose trade war with China continues without an end in sight.

The U.S. was Vietnam’s largest export market in the first five months with a value of $22.6 billion, up 28 percent year-on-year. China came second with $13.4 billion, down 2.6 percent, according to Vietnam’s General Statistics Office.

Vietnam was the U.S.’s 12th largest supplier last year, but if this pace of growth is sustained for a full year, it could leapfrog Italy, France, the U.K., and India in the ranks of top exporters to the U.S, Bloomberg said in a new report.

The country has become a standout in a region where the world’s export engines are largely hurting amid trade-war tensions and a slowing electronics cycle, the report added.

U.S. Census Bureau data shows Japan, South Korea, Singapore, and Taiwan all saw export contractions in April, while in the same month Vietnam’s exports gained 7.5 percent from a year earlier.

Source: vnexpress.net

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