In the first two months of the year, Vietnam-US trade exceeded 22 billion USD. The US still maintains its position as Vietnam's largest export market.
Exports flourish
According to data from the General Statistics Office - Ministry of Finance, in the first two months of 2025, export turnover to the US market reached 19.6 billion USD, down 16.5% over the same period; import of goods from the US reached 2.6 billion USD, up 17.4% over the same period.
According to experts, in 2025, Vietnam's key export industries with many opportunities to export to the US market such as textiles, fine art wooden furniture, electronic machinery and equipment, and agricultural products... will continue to maintain positive growth momentum.
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| Textiles and garments are one of the main export items to the United States (Photo: Can Dung) |
For example, in the textile and garment industry, exports to the United States account for 40% of the industry's total export turnover. By 2025, the textile and garment industry expects to reach 25 billion USD in exports to the US market, growing thanks to the increasing demand for high-quality and environmentally friendly products.
Similarly, fine wood products, with strong growth potential, are expected to reach around $10 billion in 2025, up more than 20% from 2024. The trend of consuming sustainable, recycled furniture products in the United States continues to be a major driver of the industry. In addition, high-tech products such as electronic components and telecommunications equipment also contribute significantly to total export turnover, with their value expected to increase by 15-18% thanks to the expansion of production from corporations such as Samsung, Intel and LG.
Vietnam is an important partner of the United States.
Recently, at the regular Government press conference in February, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that Vietnam is an important partner of the United States. Vietnamese goods exported to the United States mainly compete with third countries, not directly with US businesses in the US market. On the contrary, it also creates conditions for US consumers to use cheap Vietnamese goods.
Besides, Vietnam is an open economy, in the integration process, Vietnam pursues a free trade policy, the difference in tariffs on US goods is not much and in the coming time may continue to decrease, because Vietnam advocates reducing MFN tariffs on many goods.
Therefore, some US products with high competitive advantages such as automobiles, agricultural products, liquefied gas, ethanol... will benefit from this policy, and at the same time will create positive import flows from the US, contributing to improving the trade balance between the two countries.
Currently, there is a policy dialogue mechanism between Vietnam and the United States established under the Vietnam-US Trade and Investment Framework Agreement. Therefore, existing issues in bilateral trade and economy, if any, will be proactively discussed through the Vietnam-US Trade and Investment Council (TIFA).
This is a mechanism that is being maintained regularly, continuously, effectively and efficiently to strengthen strategic trust between the two countries, create a common vision, contribute to long-term orientation and stabilize the development roadmap of bilateral economic and trade relations.
In addition, the Vietnamese Government has also proactively assigned ministries and branches to review difficulties and develop solutions to issues of concern to the United States; on the basis of fair trade, reciprocity, in accordance with the law, and in harmony and satisfactory response to the interests of all parties.
| Vietnam has been and will create favorable conditions for US investors to participate in the process of forming and developing key industries in Vietnam, especially key energy projects (new energy, hydrogen, nuclear power, etc.), creating the premise to increase the import of liquefied gas, fuel, machinery and equipment, and technology from the United States; thereby, contributing to improving the trade balance between the two countries. |
Source: https://congthuong.vn/thuong-mai-viet-nam-hoa-ky-vuot-22-ty-usd-377567.html
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