Transportation Export Reaches $13.7B this Year: Means of Transportation, Parts, and Accessories
Vietnam is committed to achieving a target of $13.7 billion in export revenue from the transportation industry, auto parts, and accessories this year, surpassing last year’s $11.98 billion. This expectation is based on the consistent growth observed over the past 12 years, with an impressive annual rate of 18.4%, as well as the promising export figures recorded in the initial months of this year.
During the first five months of 2021, the export revenue from this sector reached nearly $5.5 billion, indicating a positive trajectory. Notably, amidst a decline in total export revenue for Vietnam and 37 out of 45 products, means of transportation, auto parts, and accessories experienced a substantial growth of 14% from the beginning of the year until June 15.
Vietnamese means of transportation, auto parts, and accessories have successfully penetrated 43 markets worldwide, thanks to their competitive pricing, cost-effective labor, safety standards, and adaptability to diverse customer requirements. Out of these 43 export markets, 12 have generated export revenues exceeding $100 million. Noteworthy contributors include Japan, the United States, South Korea, Thailand, Canada, Indonesia, Italy, Singapore, the Netherlands, China, Brazil, and Mexico.
Encouragingly, 28 of these markets have witnessed positive growth, with six of them experiencing significant increases of over $50 million each. Notable examples include South Korea, which observed a remarkable rise of $152 million, followed by Japan ($95 million), Indonesia ($82 million), Thailand ($75 million), Brazil ($62 million), and Canada ($58 million).