Vietnam’s exports to Mexico continue to increase rapidly

In the first seven months of the year, Vietnam’s exports to the North American market continued to increase rapidly by nearly 20 percent, to US$527.7 million, according to a report from the Vietnamese embassy’s trade office in Mexico on September 27.

The report said that although Vietnam’s export turnover to Mexico decreased by 10.37 percent from over US$82 million in July last year to US$74.1 million this year - its overall turnover remained high. It is likely that bilateral trade between Vietnam and Mexico will surpass US$1 billion this year.

In the past seven months, Vietnam’s import turnover from Mexico reached US$38.3 million, down 11 percent compared to the same period last year. The fall is mainly attributed to the fact that Vietnamese businesses have found replaceable sources of goods in neighboring markets which has helped reduce transportation costs.

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