40 billion usd to krw

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

Vietnam’s services sector remains a bright spot, partially offsetting some external weakness, according to a report released by HSBC Vietnam on May 31. Illustrative image (Source: VNA) The report, themed “Vietnam May data: Still a long way to go,” said while Vietnam’s May trade data points to no further deterioration, there is still a long way to see a meaningful rebound in its trade cycle. Exports slightly fall According to the report, exports fell 5.8% year on year in May, a slower pace than the market expected, but with lingering broad-based weakness. None of the major categories, including electronics, machinery, textiles/footwear and wooden furniture showed signs of a meaningful rebound. Data as of April 2023 suggests substantial falling shipments in Vietnam’s three largest exporting destinations - US, China and the EU. In particular, with a hefty share of 30%, Vietnam is particularly sensitive to a US economic slowdown. Despite exports falling by … [Read more...] about Vietnam’s services sector remains a bright spot: HSBC

Crowds flock to Co To island in Quang Ninh province (Photo: VNA) Hanoi (VNA) – The tourism sector served 12.5 million domestic visitors in May, pushing the total number of the group to over 50.5 million in the first five months. Also in May, revenue from domestic travelers is estimated to hit 267.2 trillion VND (11.37 billion USD). The volume of Vietnamese holidaymakers traveling around the country has been on the rise in conjunction with the annual peak of domestic tourism. On the opposite end, the peak time in domestic tourism is also when international tourism hits its low-season travel period. The sector hosted 1.3 million tourists from the Republic of Korea and 399,000 from China in the period from January to May. This year, Vietnam set a target to earn some 650 trillion VND from 110 million visitors, including 8 million foreigners. According to the Vietnam National Administration of Tourism (VNAT), the 4.6 million international arrivals recorded between … [Read more...] about Vietnam hits peak time for domestic tourism