The United States is Vietnam's largest export market, estimated at 7.6 billion USD

08/07/2023

In January 2023, the United States is Vietnam's largest export market with an estimated turnover of 7.6 billion USD. China is Vietnam's largest import market with an estimated turnover of 8.1 billion USD.

January also recorded that the trade surplus with the EU was estimated at 1.8 billion USD, down 45% over the same period last year; Trade surplus to Japan was 100 million USD, down 65.3%; Trade deficit from China is 3.4 billion USD, down 52.6%; Trade deficit from Korea is 2.5 billion USD, down 20.9%; Trade deficit from ASEAN was 1.3 billion USD, an increase of 74.3%.

According to the European - American Market Department (Ministry of Industry and Trade), in 2022, the trade surplus between Vietnam and the American regional market, including the United States, will reach a historic level of 100 billion USD for the first time.

Import-export turnover between Vietnam and markets in the Americas recorded very positive growth, reaching 153.9 billion USD, an increase of 10.7% compared to 2021. Of which, Vietnam's exports reached 128.2 billion USD, an increase of 12.4%; Imports reached 25.7 billion USD, up 3%.

In particular, trade exchange with all major markets in the region recorded stable growth such as the United States (11%), Brazil (6.6%), Canada (16.5%), Mexico (7.1%), Chile (9%), Argentina (8.3%)…

In the US market alone, the total bilateral trade turnover reached approximately 123.86 billion USD (up 11% compared to 2021), of which Vietnam exported 109.4 billion USD to the US (up 13.5 billion USD). 6% compared to 2021).

For the market area of CPTPP countries, thanks to the positive effects of the free trade agreements CPTPP and VCFTA, the import-export turnover between Vietnam and the group of 4 countries Canada, Mexico, Chile, Peru in 2022 will reach 15 .2 billion USD, an increase of 10.9% compared to 2021, of which Vietnam's exports to this group of countries reached 13.1 billion USD, an increase of 8.7%; Imports reached 2.1 billion USD, an increase of 26.9%.

Another important market area is the MERCOSUR bloc (including Brazil, Argentina, Uruguay, Paraguay) which also recorded two-way trade turnover in 2022 growing by 9.2% over the same period, reaching more than 12 billion. USD. Of which, exports reached more than 3.3 billion USD, an increase of 3.4%, imports reached 8.7 billion USD, an increase of 11.6%.

For other markets in the region, bilateral trade turnover also recorded a good growth rate: Central America increased by 29.2% (reaching 1.12 billion USD), Andean Community countries increased by 12%. .9% (reaching 1.1 billion USD).

 

 

Minh Toan
 

Other news