In the midst of US-China trade war, the widespread protectionism did not slow down the supply chains in Vietnam.
Newly released statistics indicated the export hub’s revenue has maintained a 6.7 percent increase in the first half of the year, compared to last year. The total estimated value of goods exported worldwide in 2017 is an equivalent of US$277.4 billion.
Vietnam shipped 52.8% of goods to Asian countries, 21.8% to North America, 19.2% to Europe, the rest went to Latin America including 2.4% to the Caribbean, 1.8% to Australia and 1.1% to Africa. In particular, the exports to the US has accelerated 28 percent, amounts to 80 percent of the entire export increase.
Vietnam also put a heavy emphasis on industrial development. The production shows a strong 10 percent annual growth. Reports have displayed that one in every four products manufactured in Vietnam is exported to the US.