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The United States is Vietnam's largest export market

12/05/2022

For many years, the United States has been Vietnam's top trading partner, especially the world's largest economy is Vietnam's largest export market.

According to the latest preliminary statistics of the General Department of Customs, in April alone, Vietnam's exports to the United States reached nearly USD 10.3 billion, an increase of nearly 33.3% over the same period in 2021.

Only in April, there were 4 groups of goods exported to this market with more than 1 billion USD, including: textiles, phones, computers, and machinery. In addition, there are many groups of goods with a turnover of several tens to hundreds of millions of dollars, such as timber and wood products; footwear; means of transportation; seafood, etc.

Accumulated as of the end of April 2022, exports to the US reached USD 36.2 billion, an increase of 20.82% over the same period last year.

In the past 4 months, the world's largest economy continues to maintain its position as the largest export market for Vietnam's goods, accounting for 29.56% of the country's total turnover.

As of the end of April, there were 6 groups of goods exported to the US with a turnover of more than  USD 1 billion, including: textiles; telephone; computer; machinery; timber and wood products; footwear.

Notably, the United States is also an important export market for many key groups of agricultural products in Vietnam. These include seafood (reaching nearly USD 850 million); cashew nuts (reaching USD 286 million); coffee (reaching nearly USD 103 million), etc.

In the opposite direction, by the end of April, goods imported from the US reached a turnover of USD 4.6 billion, a decrease of about 9.8% over the same period last year.

Overall, the United States is currently the second largest trading partner of Vietnam (after the Chinese market). In 2021, for the first time, bilateral trade between Vietnam and the United States reached USD 100 billion (reaching USD 111.56 billion, an increase of nearly USD 21 billion compared to 2020, of which Vietnam's exports reached USD 96.29 billion.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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