Vietnam's exports to the US have steadily rebounded since late last year, experiencing robust growth in export value during the first two months of 2024.
Production of electronic products for export. (Photo: VNA)
Hanoi (VNS/VNA) - Vietnam's exports to the US havesteadily rebounded since late last year, experiencing robust growth in exportvalue during the first two months of 2024.
Increased consumption in the US has led to a revival in orders, lifting Vietnam'sexport value to this market to 17.4 billion USD in the first two months of theyear, marking a notable 34% surge compared to the corresponding period in2023.
More than half of Vietnam's export value to the US wasfrom high-tech products (consumer electronics, smartphones), garments andfootwear. The rest came from other products such as furniture andagricultural products.
For many consecutive years, the US has been an importantdestination for Vietnamese goods.
In 2023, Vietnam exported nearly 97 billion USDworth of goods to the US, despite many impacts from economic recession,inflation and people tightening their spending.
With an export value at nearly 110 billion USD in 2022, the USbecame the first export market of Vietnam reaching 100 billion USD a year. Thismarket maintained its position as Vietnam's largest export marketin 2023.
Dau tu (Investment) newspaper quoted Ta Hoang Linh, Director ofthe European - American Market Department under the Ministry of Industry andTrade, as saying that the US continues to promote the strategy of diversifyingsuppliers, targeting ASEAN markets. That brings chances for Vietnam to becomean important production and export centre in the global value chain.
Bilateral trade between Vietnam and the US has increased stronglyfrom 450 million USD in 1995 to 124 billion USD in 2022.
The recent upgrade of the Vietnam - US relations to aComprehensive Strategic Partnership is opening considerable opportunities forboth sides to soon reach 200 billion USD in bilateral trade value.
According to the US-ASEAN Business Council (USABC), an annualdelegation of 50 leading US companies will have a trip to explore investmentopportunities in Vietnam from March 18-21, 2024. They operate in differentfields such as technology, energy, aerospace and defence, manufacturing,agriculture and food, financial services, healthcare and investment funds./.
Vietnam Textile and Apparel Association (VITAS) on November 23 announced that Vietnam’s textile and apparel exports are estimated to top 40 billion USD, about 9% less than that of last year.
Bilateral trade between Vietnam and the US hit over 100 billion USD over the last 11 months of this year amidst the global trade slowdown. The figure has been recently announced at the US-Vietnam Trade and Investment Framework Agreement Joint Council Meeting in Hanoi.
The year 2023 marks a remarkable improvement in US- Vietnam relations as the two countries officially upgraded their bilateral ties to a comprehensive strategic partnership for peace, cooperation and sustainable development on September 10.
Deputy Minister of Industry and Trade Phan Thi Thang had a meeting with Deputy Assistant US Trade Representative (USTR) for Southeast Asia and the Pacific Sarah Elleman, within the framework of Vice State President Vo Thi Anh Xuan’s recent working visit to the US.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Production of electronic products for export. (Photo: VNA) 
