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  • Vietnam – United States import- export turnover period 2010 – 2019
 

Vietnam – United States import- export turnover period 2010 – 2019

by hptoancau / Tuesday, 25 February 2020 / Published in Vietnam - USA

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)

 

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