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Vietnam - US trade reached nearly USD 100 billion


According to information recently announced by the General Department of Customs, in the first nine months of the year, Vietnam's exports to the United States reached USD 85.17 billion, an increase of USD 16.3 billion over the same period last year, equivalent to a growth rate of 23.7%.

Currently, the United States is still the largest export market of Vietnam. In the past nine months, the world's largest economy accounted for 30.16% of the country's export turnover.

As of the end of September, there were 11 groups of goods exported to the US with a turnover of USD 1 billion or more, of which 4 groups reached more than USD 10 billion (an increase of 2 groups compared to the same period last year).

2 new commodity groups of "tens of billions of dollars" are computers, electronic products and components: phones and components with results of USD 11.6 billion and nearly USD 10.1 billion respectively (the same period last year with USD 9.3 billion and nearly USD 7.1 billion).

Meanwhile, machinery, equipment, tools and spare parts have surpassed textiles to become the largest export group in the US market with a turnover of nearly USD 15.1 billion, an increase of 30.17% compared to the previous year, equivalent to USD 3.5 billion.

Textile ranked second with USD 13.87 billion, an increase of 19.36%, equivalent to USD 2.25 billion.

In the agricultural sector, there are large export groups such as timber and wood products; seafood; cashew; pepper, etc. with a turnover of several hundred million USD to billions of USD per commodity group.

In the opposite direction, in the first 9 months of the year, Vietnam imported USD 11.15 billion of goods from the US, decreased by more than USD 600 million compared to the same period last year.

Thus, as of the end of September, bilateral trade between Vietnam and the United States reached nearly USD 100 billion (USD 96.32 billion).

With the current scale and growth rate, by the end of October, the import and export turnover between the two countries is expected to exceed USD 100 billion. The United States is the second market to achieve this result after Vietnam's largest trading partner, China.


Kylie Nguyen

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