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Vietnam, United States Trade Hits Record High - Vietnam Briefing News

Apr. 22 – Bilateral trade between Vietnam and the United States reported a record high during the first quarter of this year compared to recent years.

According to Customs Department statistics, the United States is the country’s biggest consumer worth US$2.84 billion, an increase of 23.2 percent compared to the same period last year. Moreover, American exports made up 19.6 percent of Vietnam’s total imports.

Vietnam reportedly imported US$809 million worth of products from the United States, an increase of 77.8 percent compared to last year’s figures during the same period.

Bilateral trade between the two may reach US$19 billion by the end of the year if this growth continues, consisting of US$14 billion worth of exports and US$5 billion worth of imports.

The United States has been one of Vietnam’s top consumer markets since 2003. Vietnam mainly exports garments, wooden products, footwear, crude oil, seafood and electronic products to the United States. Last year, the United States ranked second place in terms of trade after China.