Vietnam-US trade ties show promise as turnover hits US$11.1 billion in January
VOV.VN - Vietnam-US two-way trade turnover reached US$11.1 billion in January, with Vietnam recording a trade surplus of US$8.5 billion, down 3.5% year-on-year, according to the General Statistics Office.
The United States remained Vietnam's largest export market in January, with exports reaching US$9.8 billion, while imports from the US stood at US$1.3 billion, according to the General Statistics Office.
The US continues to be a key market that many Vietnamese enterprises are targeting to expand their trade activities. At the same time, Vietnam has been attracting high-tech investment from the US, particularly in microchips and semiconductors, as part of efforts to stay ahead in the global technological race.
Vietnam currently plays a crucial role in the global supply chain, while US businesses have significantly contributed to the country’s economic transformation and development.
According to the General Department of Vietnam Customs, total bilateral trade between the two countries exceeded US$132 billion in 2024. Of this, Vietnamese exports to the US surged by 23.3% year-on-year to nearly US$119 billion, while imports from the US increased by 7.3% to US$13 billion.
Vietnam ranked as the eighth-largest trading partner of the US and its fourth-largest export market within ASEAN. Meanwhile, the US was Vietnam’s second-largest trading partner and the top export destination. Key Vietnamese exports to the highly lucrative market included footwear, wooden furniture, machinery, and optical equipment.
To further boost exports to this market, industry experts emphasize that domestic enterprises must strengthen ties with US importers and distributors, explore flexible payment methods, and develop mechanisms for risk-sharing, particularly when entering the market.
For agricultural and food products, businesses are encouraged to invest in cold storage facilities and establish distribution hubs at ports to optimize supply chains, reduce costs, and enhance the presence of Vietnamese goods in the international market.
Moreover, Vietnamese enterprises must strictly comply with trade regulations to avoid risks associated with trade defence measures, tax evasion allegations, or other restrictions that the US may impose to protect its domestic industries.
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