Socialist Republic of Vietnam

(VNA)Vietnam now ranks 29 th among 233 trade partners of the US with bilateral trade reaching more than 10 billion USD in the first half of the year, a year-on-year rise of 21 percent, according to the US International Trade Commission.

The Southeast Asian nation posted an export value of almost 7.94 billion USD and an import value of 2.07 billion USD in the first six months of the year, year-on-year increases of 21.4 percent and 25 percent, respectively.

Textiles and garments is Vietnam’s leading export staple, bringing home 3.04 billion USD, up 18.5 percent; followed by footwear with 967.7 million USD, up 27 percent and wooden products, 837 million USD, up 4.5 percent.

Electric and audio equipment maintained its fourth place with export revenues reaching 403 million USD while seafood exports earned 332.6 million USD.

Among the US ’ exports to Vietnam , cotton, including fibre and fabric, was the number 1 export item with 262.2 million USD in the first six months of the year, a year-on-year rise of 155 percent. It was followed by steel with 132.6 million USD and machinery, mechanical engineering, accessories and vehicles with 186 million USD.

The Vietnam Trade Commission in the US predicted that two-way trade is estimated at 20 billion USD in 2011, a year-on-year increase of 10 percent.

The two countries’ trade value reached 18.324 billion USD last year, the record high since the two countries set up their diplomatic ties in 1995./.