Trade data compiled by General Department of Vietnam Customs recorded a steady rise in bilateral merchandise trade between Vietnam and the United States of America (USA) during period of 2010-2019 with annual growth rate of nearly 17.40% on average. Moreover, trade-in-goods value between the two countries grew up more than 4 times, from USD 18.01 billion recorded in 2010 to USD 75.71 billion reported for 2019.
Vietnam Customs also reported that during this period, the USA was on top three biggest trading partners of Vietnam and was the one with whom Vietnam retained the big trade surplus. For instance, in 2019, trade balance of Vietnam and the USA was in surplus for Vietnam of value USD 46.99 billion, which accounted for 76.59% Vietnam’s total export value to the USA.
According to UNCOMTRADE of United Nation Statistics Division (UNSD), trade-in-goods value of the United States for 2019 totaled USD 77.56 billion. In 2019, Vietnam ranked No. 13 among the United States’ top trade partners in 2019. In 2018, it ranked No. 17.
The top five U.S. exports to Vietnam by value through December 2019 were the categories of Cotton; Computer chips; Civilian aircraft, parts; Cell phones, related equipment; and Plastics, respectively. They accounted for 37.46 percent of total exports to Vietnam.
The value of the top five categories of U.S. imports from Vietnam –– Cell phones, related equipment; Furniture, parts; Athletic, other textile shoes; Sweaters, pullovers, vests, knit or crocheted; and Leather shoes –– accounted for 39.97 percent of all inbound shipments.
Vietnam – United States import-export turnover period 2010 – 2019
(Unit: Billion USD)
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
| Export | 3.8 | 4.5 | 4.8 | 5.2 | 6.3 | 7.8 | 8.7 | 9.3 | 12.8 | 14.36 |
| Import | 14.2 | 16.9 | 19.7 | 23.8 | 28.6 | 33.5 | 38.4 | 41.6 | 47.5 | 61.35 |
| Total trade | 18 | 21.4 | 24.5 | 29 | 34.9 | 41.3 | 47.1 | 50.9 | 60.3 | 75.71 |
| Trade balance | 10.4 | 12.4 | 14.9 | 18.6 | 22.3 | 25.7 | 29.7 | 32.3 | 34.7 | 46.99 |
Vietnam’s exports to the USA
The USA was 1st trading partner importing goods to Vietnam in 2019 with total import value of USD 61.35 billion, 27.8% above the performance of the previous year.
Vietnam’s main export commodities to the USA in 2019 included: textiles which reached USD 14.85 billion and accounted for 24.21% total export value; Phones of all kinds and components which reached USD 8.89 billion and accounted for 14.5% total export value; Footwear which reached USD 6.65 billion and accounted for 10.83% total export value…
Vietnam’s exports to the USA
Unit: USD
| Commodity | December 2019 | Compared with 11/2019 (+/- %) | 2019 | Compared with 2018 (+/- %) | Density (%) |
| Total export turnover | 5.749.313.133 | 8.17 | 61.346.589.611 | 29.08 | 100 |
| Textiles | 1.399.487.683 | 24.96 | 14.849.540.797 | 8.39 | 24.21 |
| Phones of all kinds and components | 450.774.289 | – 29.59 | 8.896.632.339 | 64.41 | 14.50 |
| Footwear | 685.675.283 | 22.91 | 6.646.837.964 | 14.14 | 10.83 |
| Computers. electronic products and components | 680.066.428 | 12.58 | 6.048.195.205 | 111.19 | 9.86 |
| Wood and wood products | 599.899.200 | 11.40 | 5.333.372.608 | 36.85 | 8.69 |
| Machinery. equipment and other spare tools | 528.921.791 | – 3.29 | 5.057.418.745 | 48.50 | 8.24 |
| Means of transport and spare parts | 159.815.676 | 1.98 | 1.698.771.452 | 28.62 | 2.77 |
| Bags. wallets. suitcases. umbrellas. umbrellas | 133.720.149 | 6.21 | 1.581.710.558 | 19.72 | 2.58 |
| Seafood | 119.593.870 | – 7.08 | 1.472.556.494 | -9.48 | 2.40 |
| Cashew | 83.060.798 | 4.71 | 1.027.816.519 | -15.10 | 1.68 |
| Toys, sports equipment and parts | 125.066.800 | – 5.11 | 938.842.423 | 97.52 | 1.53 |
| Products from plastic | 74.331.240 | 7.93 | 689.504.740 | 41.45 | 1.12 |
| Products from iron and steel | 60.167.126 | 13.97 | 674.723.012 | 34.11 | 1.10 |
| Other common metals and products | 34.988.799 | 4.42 | 428.755.232 | 30.85 | 0.70 |
| Precious stones. precious metals and products | 29.166.404 | – 12.23 | 413.983.757 | 5.23 | 0.67 |
| Wires and cables | 40.069.332 | 23.12 | 331.843.508 | 248.15 | 0.54 |
| Steels | 15.959.194 | 33.63 | 313.410.784 | -59.38 | 0.51 |
| Coffee | 26.657.191 | 5.92 | 246.851.155 | -27.44 | 0.40 |
| Paper and paper products | 19.307.458 | 26.53 | 208.213.750 | 97.38 | 0.34 |
| Products from rubber | 19.271.689 | 12.38 | 195.707.536 | 29.81 | 0.32 |
| Fabric blinds. other technical fabrics | 10.467.181 | – 15.38 | 186.334.064 | 4.47 | 0.30 |
| Vegetable goods | 12.264.870 | – 6.15 | 150.034.996 | 7.21 | 0.24 |
| Rattan, bamboo, rush and carpet products | 16.258.207 | – 15.45 | 146.448.739 | 101.42 | 0.24 |
| Pepper | 9.403.881 | 5.42 | 141.064.678 | -7.77 | 0.23 |
| Ceramic products | 13.471.805 | 29.32 | 99.338.264 | 22.67 | 0.16 |
| Cameras,camcorders and components | 10.090.463 | 3.49 | 96.395.027 | 34.20 | 0.16 |
| Textile,garment, leather and footwear materials | 9.046.303 | 23.87 | 72.611.305 | 69.45 | 0.12 |
| Confectionery and cereal products | 7.031.834 | 11.43 | 72.199.675 | 26.15 | 0.12 |
| Glass and glass products | 6.943.763 | 20.39 | 65.820.480 | 3.19 | 0.11 |
| Fibers and yarns of all kinds | 6.441.368 | 6.46 | 59.857.899 | 19.10 | 0.10 |
| Animal feed and raw materials | 7.415.796 | 21.52 | 50.890.594 | 17.75 | 0.08 |
| Rubber | 7.785.531 | 74.43 | 47.840.935 | -1.35 | 0.08 |
| Chemistry | 1.904.636 | – 59.45 | 39.235.574 | 18.62 | 0.06 |
| Chemical products | 3.802.618 | 42.77 | 35.481.613 | 11.71 | 0.06% |
| Rice | 1.460.709 | 40.24 | 11.858.847 | -0.42 | 0.02% |
| Tea | 623.43 | – 85.16 | 7.034.504 | -4.09 | 0.01% |
| Other goods | 338.900.337 | 22.68 | 3.009.453.840 | 36.29 | 4.91% |
(Source: Vietnam Customs)
Vietnam’s imports from the USA
Vietnam’s main import commodities originated from the USA in 2019 were inclusive of: computers. electrical products and parts thereof which reached USD 4.854 billion and accounted for 33.8% total import value; cottons which reached USD 1.567 billion and accounted for 10.91% total export value; machines. equipment. tools and instrument which reached USD 1.129 billion and accounted for 7.87% total import value…
Vietnam’s imports from the USA
Unit: USD
| Commodity | December 2019 | Compared with 11/2019 (+/- %) | 2019 | Compared with 2018 (+/- %) | Density
(%) |
| Total export turnover | 1.293.277.796 | 11.21 | 14.365.392.484 | 12.64 | 100
|
| Computers. electronic products and components | 482.555.920 | 25.84 | 4.854.947.541 | 59.14 | 33.8 |
| Cotton of all kinds | 60.342.980 | -7.94 | 1.567.847.486 | 6.72 | 10.91 |
| Machinery. equipment. tools and other spare parts | 127.415.588 | 31.15 | 1.129.855.431 | 7.88 | 7.87 |
| Plastic materials | 77.959.960 | 1.65 | 826.479.691 | 84.28 | 5.75 |
| Animal feed and raw materials | 39.770.749 | -32.49 | 628.365.883 | -7.8 | 4.37 |
| Textile. garment. leather and footwear materials | 27.837.020 | -23.56 | 472.617.652 | 14.48 | 3.29 |
| Iron and steel scrap | 5.759.271 | -67.9 | 393.041.710 | 6.57 | 2.74 |
| Other means of transport and spare parts | 34.428.881 | 17.2 | 387.508.147 | 26.1 | 2.7 |
| Chemical products | 34.200.665 | 6.03 | 358.968.571 | 12.25 | 2.5 |
| Wood and wood products | 29.158.606 | 13.49 | 338.292.573 | 6.69 | 2.35 |
| Soybean | 69.635.983 | 78.24 | 304.723.496 | -44.26 | 2.12 |
| Vegetable goods | 41.690.773 | 47.58 | 303.370.892 | 44.39 | 2.11 |
| Other food preparations | 30.907.353 | 28.95 | 280.740.167 | 49.07 | 1.95 |
| Chemistry | 27.695.444 | 99.45 | 193.046.132 | 9.49 | 1.34 |
| Medicine | 10.624.605 | -28.92 | 162.517.810 | 23.27 | 1.13 |
| Milk and milk products | 14.181.698 | 3.43 | 133.398.409 | 9.46 | 0.93 |
| Products from plastic | 13.187.948 | 7.08 | 128.286.859 | 0.3 | 0.89 |
| Seafood | 8.145.341 | 40.27 | 90.696.070 | 36.29 | 0.63 |
| Products from iron and steel | 7.477.962 | 0.14 | 77.130.505 | 30.07 | 0.54 |
| Glass and glass products | 3.842.057 | -48.02 | 71.745.411 | 0.59 | 0.5 |
| Aromatic substances. cosmetics and toilet preparations | 6.491.840 | -4.71 | 66.023.831 | 21.7 | 0.46 |
| CBU cars of all kinds | 4.172.104 | -10.96 | 62.496.268 | 82.11 | 0.44 |
| Wheat | 59.942.916 | -29.73 | 0.42 | ||
| Rubber | 4.012.308 | 27.05 | 41.934.366 | 13.04 | 0.29 |
| Fabrics of all kinds | 2.837.011 | -10.51 | 32.906.691 | 21.66 | 0.23 |
| Ores and other minerals | 1.797.418 | -13.39 | 30.421.816 | 36.71 | 0.21 |
| Metal products are often different | 2.789.951 | -1.36 | 29.858.386 | -94.72 | 0.21 |
| Other common metals | 5.732.193 | 41.11 | 28.447.108 | -91.68 | 0.2 |
| Car components. spare parts | 2.418.370 | -14.75 | 26.947.505 | 137.98 | 0.19 |
| Paper types | 2.450.972 | 33.93 | 24.621.508 | 10.43 | 0.17 |
| Other products from petroleum | 3.678.559 | 49.35 | 24.611.422 | -11.96 | 0.17 |
| Tobacco raw materials | 1.436.332 | -44.61 | 23.260.438 | -17.64 | 0.16 |
| Products from rubber | 1.813.384 | 5.77 | 20.165.039 | 6.28 | 0.14 |
| steels | 1.270.128 | -7.42 | 16.824.280 | -35.65 | 0.12 |
| Cameras. camcorders and components | 1.159.830 | 44.17 | 15.821.740 | 27.39 | 0.11 |
| Wires and cables | 1.724.219 | -10.48 | 14.992.055 | 8.59 | 0.1 |
| Confectionery and cereal products | 1.177.496 | -24.85 | 13.274.051 | 45.06 | 0.09 |
| Pesticides and raw materials | 992.066 | 129.72 | 12.389.895 | 30.51 | 0.09 |
| Precious stones. precious metals and products | 710.324 | -37.04 | 11.916.223 | -9.23 | 0.08 |
| Paper products | 797.649 | -9.08 | 11.105.646 | 11.22 | 0.08 |
| Fertilizers of all kinds | 908.740 | 34.68 | 7.318.383 | -33.18 | 0.05 |
| Animal and vegetable fats and oils | 444.616 | -31.85 | 6.975.882 | 0.17 | 0.05 |
| Phones of all kinds and components | 121.628 | 61.81 | 5.473.191 | -24.4 | 0.04 |
| Other goods | 97.521.855 | -21.94 | 1.074.083.407 | 7.48 |
(Source: Vietnam Customs)
