In the first 11 months of 2024, two-way trade between Vietnam and the US reached nearly 123 billion USD, an increase of nearly 13 billion USD compared to the performance of the whole of last year.
In the first 11 months of 2024, two-way trade between Vietnam and the US reached nearly 123 billion USD, an increase of nearly 13 billion USD compared to the performance of the whole of last year.
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| Wooden furniture is one of the product groups with high export growth to the US. |
In the first 11 months of 2024, the US was Vietnam's largest export market with a turnover of 108.9 billion USD, up 23.9%, and imports from the US reached 13.5 billion USD, up 7.3%.
With this implementation level, the total two-way turnover between Vietnam and the US is approximately 123 billion USD, the trade balance is in favor of Vietnam with a trade surplus of 95.4 billion USD, an increase of 26.7% over the same period last year.
According to the Department of European and American Markets ( Ministry of Industry and Trade ), Vietnam has become the 8th largest trading partner of the US and the 4th largest export market of the US in the ASEAN region. In contrast, the US is the second largest trading partner and the largest export market of Vietnam.
Data from the US Census Bureau shows that by the end of October 2024, Vietnam will be the 8th largest trading partner of the US with a total import-export turnover of about 123.2 billion USD, an increase of 19.3% compared to 2023. Vietnam's exports to the US will reach 112.7 billion USD; imports from the US will reach 10.5 billion USD, an increase of 29.4% compared to the same period in 2023.
Vietnam has a trade surplus with the US of 102.2 billion USD and ranks 3rd among countries with the largest trade surplus with the US (after China and Mexico).
In general, compared to the same period in 2023, import and export turnover between Vietnam and the US has recovered strongly, gradually returning to stable growth as in 2022.
Some items in the top 15 of Vietnam's exports with good growth (over 20%) are: wooden furniture; machinery, optical equipment, medical measurement; office machines, printers; hand-held tools, hydraulic pneumatics; footwear; rubber and rubber products; plastics and plastic products; iron and steel.
In contrast, some imported goods from the US with high growth rates (over 20%) are: machinery, electronic equipment; animal feed, food waste; plastics and plastic products; edible fruits and nuts; meat.
At the current rate of goods exchange, by 2024, Vietnam-US trade is expected to exceed 134-135 billion USD.
Source: https://baodautu.vn/thuong-mai-viet---my-11-thang-nam-2024-dat-gan-123-ty-usd-d232011.html
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