The Ministry of Industry and Trade will organize a Conference on Connecting Trade between Vietnamese and American Enterprises on November 13 in Ho Chi Minh City.
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| Vietnam's trade in goods with the Americas has recovered strongly, reaching over 120 billion USD in the first 9 months of 2024. |
The Conference on Connecting Trade between Vietnamese Enterprises and American Enterprises is one of the important events within the framework of the 10th International Food Industry Exhibition (Vietnam Foodexpo 2024), held at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City on November 13, 2024.
With the participation of many domestic and foreign enterprises, representatives of state agencies and international trade organizations, the conference aims to promote economic, trade and investment cooperation between Vietnam and American countries, creating opportunities for businesses from both sides to meet, exchange and seek cooperation opportunities.
This is also an opportunity for Vietnamese enterprises to introduce their potential, products and services to the American market, thereby increasing export turnover and sustainable development.
Cooperation between Vietnam and American countries has been growing steadily in recent years. The Americas have consistently been the continent with the highest growth in trade turnover among Vietnam's partners. The two-way trade value over the past 10 years has increased more than 5.4 times, from 28 billion USD in 2011 to 153.9 billion USD by the end of 2022.
Contributions to export growth in the Americas region mainly came from key markets such as the US, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) countries in the Americas region (Canada, Mexico, Chile and Peru) and the Mercosur countries.
The clearest evidence is the exchange of delegations at all levels and business delegations between Vietnam and countries in the Americas that has taken place recently.
Vietnam's main exports include textiles, electronics, footwear, and agricultural products such as coffee, seafood, pepper, and cashews. In contrast, Vietnam imports products from the Americas such as technology, machinery, pharmaceuticals, agricultural products, and raw materials.
2022 will witness the highest trade growth rate with this region. Total import-export turnover will reach nearly 153.9 billion USD, up 11.2% compared to 2021. Of which, exports will reach nearly 128.2 billion USD, up 13% and imports will reach 25.7 billion USD, up 3.4%. Vietnam has a trade surplus with the Americas region of 102.5 billion USD.
In 2023, affected by many economic and trade difficulties, imports and exports will inevitably decline.
Accordingly, Vietnam's total import-export turnover with the Americas region reached 137.2 billion USD, down 10.8% compared to 2022. Of which, exports reached 114.1 billion USD, down 11% compared to the previous year and imports reached 23.1 billion USD, down 10% compared to the previous year.
Vietnam's trade surplus in 2023 with the American market will be only 91 billion USD.
Vietnam's main import and export markets in this region such as the US and CPTPP countries in the Americas have all witnessed a decline in two-way trade turnover, especially exports.
In the first 9 months of 2024, import and export with the Americas market witnessed a strong recovery, with two-way turnover exceeding 120 billion USD, of which exports reached 102.7 billion USD, up 24.5% over the same period, imports were nearly 19 billion USD, up 12.4% over the same period, with a trade surplus of 83.7 billion USD.
Source: https://baodautu.vn/ket-noi-giao-thuong-thuc-day-xuat-khau-sang-chau-my-d229297.html
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