Exports increase sharply, the US maintains its position as the largest market for Vietnamese goods.

According to the latest statistics from the General Statistics Office, in the first 10 months of 2024, export turnover to the US market reached 98.4 billion USD, an increase of 24.2% over the same period.

In the opposite direction, import turnover from the US market reached 12.3 billion USD, up 8.2% over the same period.

Currently, the United States is Vietnam's largest export market.

Vietnam's export of goods to the US market is very promising at the end of the year with key products such as: textiles, footwear, wooden furniture, mechanics, electronics, seafood...

Textiles and garments are one of the main export items to the United States (Photo: May 10)

According to the Vietnam Trade Office in the United States, for the textile, garment and footwear groups, while other countries exporting to the United States such as Bangladesh, India and other ASEAN countries have low or negative growth, Vietnam's exports of these products to the United States are growing well, with some products even growing by double digits.

Statistics by the end of September 2024 showed that 13 groups of Vietnamese export goods to this market reached 1 billion USD or more, of which 3 groups reached a turnover of more than 10 billion USD.

The industry with the largest export turnover is computers, electronic products and components with 17.32 billion USD; followed by machinery, equipment, tools and spare parts with 15.5 billion USD; textiles and garments ranked third with more than 12 billion USD.

Mr. Do Ngoc Hung - Vietnam Trade Counselor in the United States informed that US distributors and consumers assess that Vietnamese goods always maintain quality, diverse product designs and competitive prices. Therefore, these are still the priority import items of US partners in the context of trade tensions as well as global geopolitical instability. Vietnamese goods are always a stable and reliable source of goods, helping US consumers to balance in the context of high inflation and increasingly expensive living expenses.

However, due to the high growth of exports to the United States, this is also the market with the most trade defense investigations against Vietnamese goods. To date, the US has investigated nearly 70 cases related to Vietnamese exports, the most common being steel, wood, fiber, shrimp, tra fish, and honey.

According to statistics from the General Department of Customs, Vietnam-US trade reached the 100 billion USD mark for the first time in 2021, with 111.5 billion USD.

Entering 2022, despite facing many difficulties due to the impact of the Covid-19 pandemic, two-way trade still had remarkable growth with a turnover of nearly 124 billion USD.

In 2023, two-way trade turnover will decrease to 110.8 billion USD (down 10.5% compared to 2022), of which Vietnam will export goods worth 97 billion USD to the US, down 11.3% compared to 2022, and import from the US will reach 13.8 billion USD, down 4.5%. The trade surplus with the US will reach 83.2 billion USD, down 12.3% compared to 2022.

With the results achieved in 10 months, this year is the fourth consecutive year that trade between the two countries has reached the hundred billion USD mark.

Source: https://congthuong.vn/xuat-khau-tang-manh-hoa-ky-giu-vung-vi-the-thi-truong-lon-nhat-cua-hang-viet-nam-357473.html