Vietnam'S Exports To The United States In 2016

In 2016, Vietnam's commodities will have more opportunities to export to the US market due to the positive impact of TPP, and exports to the US are expected to reach 375 to 38 billion US dollars.

Vietnam's exports to the United States continued to grow for 15 years.

At present, the United States is Vietnam's largest.

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Vietnam exported $23 billion 900 million to the US in 2013, an increase of 21.4% over the same period last year, exports of US $29 billion 400 million in 2014, an increase of 24%, and an export of US $33 billion 500 million in 2015, an increase of 16.9% and a surplus of US $25 billion 700 million.

Tao Chenren, a US business counsellor, said Vietnam's main export commodities will benefit from the p Pacific Partnership Agreement (TPP), especially textiles and footwear.

Vietnam leather shoes Association, Vietnam

It currently accounts for 12% of the US market share and is expected to increase to 22% in 2019.

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According to the analysis report of the National Cotton Association (NCC), the digestion of American cotton is still mainly dependent on exports. Since the beginning of this year, the export of US cotton to China has dropped by 80% compared with the same period last year. The recent US cotton shipment has always been difficult to increase. It is still very difficult to complete the target of USDA (2 million 68 thousand tons).

NCC said that although China's domestic cotton prices have dropped sharply in the past year, it is still nearly twice as high as that of chemical fibers.

Although global cotton consumption has exceeded production this year, stocks at the end of the year have declined, but inventories have not declined significantly. Moreover, the decline in inventory is mainly due to China's digestion of reserve cotton. If China throws large quantities of reserves, the negative impact on international cotton prices is self-evident, especially the supply of reserve cotton will weaken China's demand for imported yarn.

In addition, as an important market for the export of American cotton, Turkey is continuing to carry out an anti-dumping investigation on the United States cotton, which may lead to higher tariffs on American cotton exports to the country, while other varieties of cotton exports to Turkey will be duty-free.

In addition, cotton consumption in the US has increased slightly in recent years, but the strength of the US dollar will also inhibit the export of American cotton yarn.

The demand for cotton is low, imports from China are reduced, prices of agricultural products are low, and the strength of the US dollar has become the current cotton price.

According to the statistics of the US Department of agriculture, as of February 25th, the total net export volume of cotton in the US 2015/16 reached 1 million 578 thousand tons, down 603 thousand tons compared with the same period last year, and completed the USDA forecast of 75%, down from 88% in the same period last year.

The shipment volume of US cotton was 876 thousand tons, down 193 thousand tons compared with the same period, and finished 42% of USDA forecast, lower than 43% of the same period last year.

To complete the export target of USDA, the average weekly shipment volume and contract volume of US cotton weekly need to reach 55 thousand and 100 tons and 23 thousand and 200 tons respectively.