Trade data compiled by General Department of Viet Nam
Customs recorded a steady rise in bilateral merchandise trade between Vietnam
and the United States of America (USA) during period of 2010-2018 with annual growth
rate of nearly 16.4% on average. Moreover,
trade-in-goods value between the two countries grew up nearly 3 times, from USD
18.01 billion recorded in 2010 to USD 60.28 billion reported for 2018.
Vietnam Customs also reported that during this period, the USA was on top three biggest
trading partners of Vietnam and was the one with whom Vietnam retained the big
trade surplus. For instance, in 2018, trade balance of Vietnam and the USA was
in surplus for Vietnam of value USD 34.8 billion, which accounted for 73.2%
Vietnam’s total export value to the USA.
According to UNCOMTRADE of United Nation Statistics Division (UNSD), trade-in-goods
value of the United States for 2017 totaled USD 4191 billion. In 2017, Vietnam
was ranked at 31st place amongst other exporting markets of this
country and export value from the USA to Vietnam accounted for 0.5% the USA’s
total export of USD 1784 billion. On import side, Vietnam took 12th place amongst other countries
exporting goods to the USA with value of USD 48.4 billion, which accounted for 2.0%
the USA’s total import value.
On export side: In 2018, the USA was the biggest
trading partner importing Vietnamese commodities with total export value of USD
47.5 Billion, 14.3% above the result of 2017.
Vietnam’s main export commodities to the USA in 2018
included: textiles and garments which reached USD 13.7 billion and accounted
for 28.8% total export value; foot-wears which reached USD 5.82 billion and
accounted for 12.3% total export value; telephones, mobile phones and parts
thereof which reached USD 5.41 billion and accounted for 11.4% total export
On import side: The USA was 5th trading partner
exporting goods to Vietnam in 2018 with total import value of USD 12.8 billion,
36.4% above the performance of the previous year.
Vietnam’s main import commodities originated from the
USA in 2018 were inclusive of: computers, electrical products and parts thereof
which reached USD 3.1 billion and accounted for 24.3% total import value; cottons
which reached USD 5.82 billion and accounted for 11.5% total export value; machines,
equipment, tools and instrument which reached USD 1.05 billion and accounted
for 8.2% total import value…
According to the latest trade data of Vietnam Customs,
total merchandise trade value between Vietnam and the USA for January of 2019
went up 38.1%, to USD 6.23 billion on year-on-year basis. As compared to the
corresponding period of 2018, total export value grew by 42.2%, to USD 5.15
billion and total import value expanded by 21.5%, to USD 1.08 billion.