2023-09-09 14:34:00
Vietnam – United States
Trade might cross the USD 100 billion mark in 2023
Nearly 30 years following the normalization of trade relations, the United States has for many years been an important trading partner of Vietnam and its largest export market, accounting for nearly 30% of the total value of national exports.
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Bilateral trade between Vietnam and the United States might cross the USD 100 billion mark in 2023. Photo: Hong Dat/VNA/CVN
In 2022, the United States was the first country to exceed USD 100 billion in trade with Vietnam, at USD 124 billion. The same year, Vietnam was the 7th largest trading partner of the United States. Vietnam’s exports to this country increased by 25.2%, accounting for approximately 3.9% of total US imports.
Despite the difficulties, bilateral trade might cross the USD 100 billion mark in 2023. From January to August, it reached nearly USD 62.3 billion, down almost 18%, due to general difficulties in the global economy, but the United States remained Vietnam’s largest export market.
According to Ta Hoang Linh, director of the Europe and America Markets Department, the Ministry of Industry and Trade highly appreciates the contributions of the two countries’ business communities to the development of Vietnam-US relations. United. At each stage of the development of bilateral relations, particularly in the economy and trade, they have played and continue to play a very important role.
Affirming that the two countries still have great room for cooperation and development, Deputy Minister of Industry and Trade Do Thang Hai said Vietnam still regards the United States as an important partner, hoping that the two sides would continue to cooperate and deepen their partnership.
Faced with the current difficult global economic context, Vice Minister Do Thang Hai urged Vietnamese companies to quickly adapt to changes in American customers’ consumption, to carefully choose their strategies, partners and distribution channels, and to carefully study regulations, export barriers and possibilities for trade defense measures, to ensure that raw materials have clear origins.
VNA/CVN
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