Latest news with #GeneralStatisticsOffice
The Star
11 hours ago
- Business
- The Star
Vietnam exports up as US tariff threat lingers
HANOI: Vietnam's exports rose sharply last month, official figures showed Friday (June 6), as the communist country tries to negotiate relief from swingeing tariffs threatened by US President Donald Trump. May exports stood at US$39.6 billion, according to data from the General Statistics Office, up 17 percent on the same period a year ago, while the year-to-date total reached US$180.2 billion, 14 percent higher than in 2024. Vietnam, a major centre for global brands producing shoes and clothes, says it is making progress in talks with Washington to head off Trump's threatened 46 percent levy. The Southeast Asian manufacturing hub has the third-biggest trade surplus with the United States after China and Mexico, putting it in the firing line for Trump's "Liberation Day" global tariff blitz. Vietnam's overall import-export turnover stood at $78.6 billion in May, 15.5 percent higher than the same month last year. Imports were up by 14.1 percent year on year to stand at $39 billion in May. Processed industrial goods dominated exports, while imports were led by production materials. Despite the tariff uncertainty, the United States remained Vietnam's number one export market with $57 billion in the first five months of 2025 -- up from $44 billion over the same period a year ago. Vietnamese and US trade negotiators meeting in Paris this week agreed to step up the pace of their talks. Vietnam has signed several agreements to buy hundreds of millions of dollars' worth of agricultural products and other raw materials from the United States as it seeks to rebalance their trading partnership. Trump's real estate group also broke ground last month on a $1.5-billion luxury golf resort in Vietnam, while his son Eric Trump has been scouting locations for a potential tower project in Ho Chi Minh City, the country's southern business hub. - AFP
Yahoo
3 days ago
- Business
- Yahoo
Vietnam exports up as US tariff threat lingers
Vietnam's exports rose sharply last month, official figures showed Friday, as the communist country tries to negotiate relief from swingeing tariffs threatened by US President Donald Trump. May exports stood at $39.6 billion, according to data from the General Statistics Office, up 17 percent on the same period a year ago, while the year-to-date total reached $180.2 billion, 14 percent higher than in 2024. Vietnam, a major centre for global brands producing shoes and clothes, says it is making progress in talks with Washington to head off Trump's threatened 46 percent levy. The Southeast Asian manufacturing hub has the third-biggest trade surplus with the United States after China and Mexico, putting it in the firing line for Trump's "Liberation Day" global tariff blitz. Vietnam's overall import-export turnover stood at $78.6 billion in May, 15.5 percent higher than the same month last year. Imports were up by 14.1 percent year on year to stand at $39 billion in May. Processed industrial goods dominated exports, while imports were led by production materials. Despite the tariff uncertainty, the United States remained Vietnam's number one export market with $57 billion in the first five months of 2025 -- up from $44 billion over the same period a year ago. Vietnamese and US trade negotiators meeting in Paris this week agreed to step up the pace of their talks. Vietnam has signed several agreements to buy hundreds of millions of dollars' worth of agricultural products and other raw materials from the United States as it seeks to rebalance their trading partnership. Trump's real estate group also broke ground last month on a $1.5-billion luxury golf resort in Vietnam, while his son Eric Trump has been scouting locations for a potential tower project in Ho Chi Minh City, the country's southern business hub. tmh-pdw/sco Sign in to access your portfolio
New Straits Times
3 days ago
- Business
- New Straits Times
Vietnam exports up as US tariff threat lingers
HANOI: Vietnam's exports rose sharply last month, official figures showed Friday, as the communist country tries to negotiate relief from swingeing tariffs threatened by US President Donald Trump. May exports stood at US$39.6 billion, according to data from the General Statistics Office, up 17 per cent on the same period a year ago, while the year-to-date total reached US$180.2 billion, 14 per cent higher than in 2024. Vietnam, a major centre for global brands producing shoes and clothes, says it is making progress in talks with Washington to head off Trump's threatened 46 per cent levy. The Southeast Asian manufacturing hub has the third-biggest trade surplus with the United States after China and Mexico, putting it in the firing line for Trump's "Liberation Day" global tariff blitz. Vietnam's overall import-export turnover stood at US$78.6 billion in May, 15.5 per cent higher than the same month last year. Imports were up by 14.1 per cent year on year to stand at US$39 billion in May. Processed industrial goods dominated exports, while imports were led by production materials. Despite the tariff uncertainty, the United States remained Vietnam's number one export market with US$57 billion in the first five months of 2025 -- up from US$44 billion over the same period a year ago. Vietnamese and US trade negotiators meeting in Paris this week agreed to step up the pace of their talks. Vietnam has signed several agreements to buy hundreds of millions of dollars' worth of agricultural products and other raw materials from the United States as it seeks to rebalance their trading partnership. Trump's real estate group also broke ground last month on a US$1.5-billion luxury golf resort in Vietnam, while his son Eric Trump has been scouting locations for a potential tower project in Ho Chi Minh City, the country's southern business hub.
France 24
3 days ago
- Business
- France 24
Vietnam exports up as US tariff threat lingers
May exports stood at $39.6 billion, according to data from the General Statistics Office, up 17 percent on the same period a year ago, while the year-to-date total reached $180.2 billion, 14 percent higher than in 2024. Vietnam, a major centre for global brands producing shoes and clothes, says it is making progress in talks with Washington to head off Trump's threatened 46 percent levy. The Southeast Asian manufacturing hub has the third-biggest trade surplus with the United States after China and Mexico, putting it in the firing line for Trump's "Liberation Day" global tariff blitz. Vietnam's overall import-export turnover stood at $78.6 billion in May, 15.5 percent higher than the same month last year. Imports were up by 14.1 percent year on year to stand at $39 billion in May. Processed industrial goods dominated exports, while imports were led by production materials. Despite the tariff uncertainty, the United States remained Vietnam's number one export market with $57 billion in the first five months of 2025 -- up from $44 billion over the same period a year ago. Vietnamese and US trade negotiators meeting in Paris this week agreed to step up the pace of their talks. Vietnam has signed several agreements to buy hundreds of millions of dollars' worth of agricultural products and other raw materials from the United States as it seeks to rebalance their trading partnership. Trump's real estate group also broke ground last month on a $1.5-billion luxury golf resort in Vietnam, while his son Eric Trump has been scouting locations for a potential tower project in Ho Chi Minh City, the country's southern business hub.
Observer
06-04-2025
- Business
- Observer
Vietnam economic growth slows in first quarter
HANOI: Vietnam's economy grew at a slightly slower pace in the first quarter, government figures showed on Sunday, as the Southeast Asian country braces for the impact of colossal tariffs imposed by Washington. The manufacturing powerhouse counted the United States as its biggest export market in the first three months of the year, but the key customer has now slapped it with a thumping 46 per cent tariff. The move is part of a furious new global trade blitz announced Wednesday by President Donald Trump that has sent markets around the world into a tailspin. Gross domestic product in Vietnam during the first quarter grew 6.93 per cent year-on-year, down slightly from the 7.55 expansion in the final quarter of last year, the General Statistics Office said on Sunday. Despite the challenge presented by US levies, Vietnamese Prime Minister Pham Minh Chinh said a target of "at least eight per cent" growth this year remains unchanged, the government's official news portal said. To achieve its goal, Vietnam's Ministry of Finance has determined that in the remaining quarters the economy will need to grow between 8.2 and 8.4 per cent, the government said. The US tariffs threaten to "significantly damage" Vietnam's current growth model, which relies heavily on exports to the United States, said Sayaka Shiba, senior country risk analyst at research firm BMI. She added that in the worst-case scenario, Vietnam could suffer a three-percent hit to GDP this year. — AFP
