But the relationship goes both ways: U.S. exports to Vietnam total $13.4 billion a year, according to Office of the U.S. Trade Representative figures, with the main items heading back across the Pacific to Vietnam including machinery, computers, electronics, aircraft and vehicles.
What does the US trade with Vietnam?
Bilateral Economic Relations
U.S. exports to Vietnam include machinery, computers and electronics, yarn/fabric, agricultural products, and vehicles. U.S. imports from Vietnam include apparel, footwear, furniture and bedding, agricultural products, seafood, and electrical machinery.
What does the United States export to Vietnam?
In 2019, the leading U.S. exports to Vietnam were (in order) electrical machinery, cotton, aircraft, plastic articles, and oil seeds. Source: U.S. International Trade Commission.
What did Vietnam trade?
Vietnam’s foreign trade has been growing fast since state controls were relaxed in the 1990s. The country imports machinery, refined petroleum, and steel; it exports crude oil, textiles and garments, and footwear.
What are the main exports of Vietnam?
Vietnam main exports are: telephones, mobile phones and parts thereof (21 percent of total shipments) and textiles (12 percent). Others include: computers and electrical products (12 percent); shoes and footwear (7 percent) and machinery, instruments and accessories (6 percent).
What are the main Exports and imports of Vietnam?
Economy of Vietnam
|Export goods||Electronics, textiles products, machinery, footwear products, transportation products, wooden products, seafood products, steel, crude oil, pepper, rice and coffee|
|Main export partners||China(+) 19.6% United States(+) 18.1% Japan(+) 7.43% South Korea(+) 7.09% (2018 est.)|
What are the major imports and Exports of Vietnam?
- Electrical machinery, equipment: US$96 billion (34.3% of total imports)
- Machinery including computers: $26.9 billion (9.6%)
- Plastics, plastic articles: $15.2 billion (5.4%)
- Optical, technical, medical apparatus: $10 billion (3.6%)
- Iron, steel: $9.8 billion (3.5%)
- Mineral fuels including oil: $8.8 billion (3.1%)
Does Vietnam import or export more?
As of 2017, Vietnam is the largest ASEAN supplier to the U.S. with a net export value of US$48.43 billion. In fact, Vietnam is likely to become the wealthiest Southeast Asian country in terms of trade.
|Top Exports||Export Value (2017)|
|Footwear||US $14.6 billion|
|Machinery||US $12.8 billion|
Who is Vietnam largest trading partner?
Vietnam top 5 Export and Import partners
|Market||Trade (US$ Mil)||Partner share(%)|
What does Vietnam import to the US?
The top U.S. imports from Vietnam are electric machinery and equipment, apparel and footwear, furniture, industrial machinery, fruits and nuts, leather goods, fish and iron and steel. Electric machinery and equipment is currently the top export from Vietnam to the U.S. and is also Vietnam’s No. 1 export worldwide.
Does America have tariffs on Vietnam?
US – Vietnam Reach Agreement on Currency, No Tariffs Imposed.
What was the US interest in Vietnam?
China had become communist in 1949 and communists were in control of North Vietnam. The USA was afraid that communism would spread to South Vietnam and then the rest of Asia. It decided to send money, supplies and military advisers to help the South Vietnamese Government.
When did the US start trading with Vietnam?
U.S. – Vietnam Trade Relations refer to the bilateral trade relationship between the United States of America (U.S.) and the Socialist Republic of Vietnam (Vietnam) from 1990s to 2012.
What is the main source of income in Vietnam?
Leading Industries Of Vietnam
The economy of Vietnam is mainly reliant on foreign direct investments in order to promote growth. The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP.
What is Vietnam famous for producing?
Vietnam is a key source of electronics, furniture, clothing, footwear, and fish for Americans. It also is a key global exporter of coffee, rice, and other food.