Vietnam Exports Surged in 2012

One of the few positives this year for Vietnam’s struggling economy has been exports, which are up 35% to $87 billion in 2012 — almost 10% over the government’s target.  Imports are up less than 2% to $94 billion, shrinking the trade deficit. 

The big increase in exports is partly a consequence of Vietnam’s repeated currency devaluation that has made its products — especially garments, footwear, and some commodities — cheaper on the global market.

The US is Vietnam’s largest export market followed by Europe, Southeast Asia, China, and Japan.  Vietnam imports large quantities of machinery, refined oil products, electronics, computers, plastics, and chemicals

More on Vietnam exports for 2012

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