After reporting a total exporting turnover of $2.6 billion in 2004, $1 billion more than its initial prediction, Vietnam has secured a strong position among world’s top exporters, taking the fourth place after China, Hong Kong and Italy. The figure, which marks the tenth year of Vietnam’s increasing exports, is the best result in the last six and a 15% increase against 2003.
Crude oil, garments, footwear and aquatic products are among the largest currency earners and wood products and electronic components earned more than $1 billion in 2004. Sporting footwear and shoes for women are among the high competitive products thanks to preferential access to the EU markets and no export restrictions.
In 2004 Vietnam noted a large increase of exports to the USA, mainly of sport and leather shoes, slippers and sandal. In 2005 garments are likely to become the second largest export item after crude oil after the European Union started lifting garment quotas for Vietnam as of January 1, 2005.
