Business

Vietnam - US trade likely to reach 100 billion USD this year

Vietnam–US trade could hit 100 billion USD in this year, up 221 times against the figure in 1995 when the two countries normalised relations.
Vietnam - US trade likely to reach 100 billion USD this year ảnh 1 The export turnover of machinery, tools and spare parts from Vietnam to the US increased from 21 percent in 2016 to 44.9 percent  in 2020 and  45.2 percent in the first six months of 2021. (Photo baodautu.vn)
Hanoi (VNA) – Vietnam–US trade could hit 100 billion USD in this year, up 221 times against the figure in 1995 when the two countries normalised relations.

The first eight months of this year saw bilateral trade of 73 billion USD, Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said at a recent forum on promoting Vietnam-US trade in the new context.

Despite the prolonged COVID-19 pandemic and its complicated developments which disrupted the supply chains, 2020 was the first year that the total trade turnover between Vietnam and the US has exceeded the 90 billion USD benchmark, reaching 90.8 billion USD, compared to 451 million USD in 1995, he said.

Phong said that trade has become a pillar of the growing bilateral relationship between Vietnam and the US.

Vietnam - US trade likely to reach 100 billion USD this year ảnh 2Speakers exchange ideas at a forum on promoting Vietnam-US trade in the new context. (Photo: VNA)
Vietnam has been attractive to US businesses with a market of nearly 100 million consumers, positive growth, open policies, close connection with the Association of Southeast Asian Nations (ASEAN) market and other major markets in the world thanks to a network of free trade agreements, he said

Vietnam has become the 10th largest trading partner of the US, while the US is also the largest trading partner of Vietnam. Vietnam is one of the first countries in Asia to sign a trade agreement with the US.

Many commercial investment opportunities between the two countries will be opened up when there is a regular direct flight of Vietnam Airlines connecting the two countries, Phong said.

Vietnam's export turnover to the US has increased by 230 percent, while exports from the US to Vietnam have also grown by more than 175 percent over the past five years. Key Vietnamese products exported to the US are machinery, equipment, tools, and spare parts.

Experts suggested that businesses pay attention to meeting requirements on products’ quality and dealing with technical barriers./.
VNA
#US #trade #export turnover #relations #Vietnam Plus #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam, US target sustainable trade ties

Vietnam, US target sustainable trade ties

Vietnamese and US agencies will continue their coordination in order to maintain trade ties between the two countries, towards harmonious, sustainable, and mutually beneficial trade balance.
US removes tariff threats against Vietnam

US removes tariff threats against Vietnam

The Office of the United States Trade Representative (USTR) on July 23 issued a formal determination in the Vietnam Currency Section 301 investigation, under which the agency will not take any tariff action against Vietnam.
Vietnam, US reach agreement to end timber trade probe

Vietnam, US reach agreement to end timber trade probe

Vietnam and the US have reached an agreement on illegal logging and timber trade that will avoid hefty tariffs on Vietnamese timber exports, according to the Vietnamese Ministry of Agriculture and Rural Development (MARD).
Trade cooperation – momentum of Vietnam-US ties

Trade cooperation – momentum of Vietnam-US ties

The relations between Vietnam and the US would continue to grow stably in the time ahead, with economic and trade cooperation the centre and key momentum of the bilateral ties, Vietnamese and US officials said.

See more

Aircraft at the Noi Bai International Airport in Hanoi. (Photo: VNA)

Vietnam seeks stable jet fuel supplies from China amid Middle East disruptions

On the basis of the long-standing friendship and cooperation between Vietnam and China, as well as close ties between their aviation authorities, the Civil Aviation Authority of Vietnam has asked the Civil Aviation Administration of China to direct relevant fuel suppliers to ensure sufficient and stable supplies for Vietnam.

Illustrative photo (Photo: Xinua/VNA)

Remittances to Ho Chi Minh City decline in Q1 amid global headwinds

Data from the State Bank of Vietnam (SBV)'s Region 2 branch showed that remittances transferred through credit institutions and economic organisations in Ho Chi Minh City exceeded 2 billion USD in the January–March period, down 15.6% from the previous quarter and 16.9% year-on-year.

The shipments are unloaded at the airport. (Photo: VNA broadcasts)

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Vietnamese fresh produce and processed foods are increasingly recognised for their quality, with items such as cashew nuts, coffee and spices gaining popularity among Middle East consumers. In 2025, Vietnam’s farm produce exports to the UAE exceeded 445 million USD, up nearly 24% year-on-year.

The World Coffee Heritage Forum officially opens at the World Coffee Museum in Dak Lak province, with eyes on UNESCO recognition for Vietnamese coffee culture. (Photo: VNA)

World Coffee Heritage Forum opens in Dak Lak

Dak Lak is known as the 'capital' of Vietnamese coffee, with rich, fertile basalt red soil ideal for agriculture. The coffee provides livelihoods for thousands of locals and has developed a unique cultural space, closely tied to the socioeconomic life, customs and identity of local communities.

Chili peppers are on the list of essential goods in Indonesia (Photo: VNA)

Indonesia reduces imports of strategic food commodities

In 2026, Indonesia is expected to have approximately 12 million tonnes of rice carried over from the previous year, supported by annual production of around 34.7 million tonnes. With projected consumption of 31.1 million tonnes, national rice reserves could reach approximately 16 million tonnes by the end of the year.

Hanoi’s roadmap to implement low-emission zones from July is providing a strong boost to the electric two-wheeler market (Photo: VNA)

Low-emission zone roadmap drives electric two-wheeler boom in Hanoi

From July 1, Hanoi will introduce time-based or area-based restrictions on petrol-powered motorcycles within Ring Road 1, with plans to expand coverage across the entire zone by 2028 and extend to areas within Ring Road 3 by 2030. The policy is expected to reshape travel habits for millions of urban residents.

Delegates at the opening ceremony of the Made in Da Nang Expo 2026 (Photo: VNA)

Nearly 300 firms join Made in Da Nang Expo 2026

Speaking at the opening ceremony, Vice Chairman of the Da Nang People’s Committee Tran Chi Cuong said the exhibition is a large-scale trade promotion event aimed at showcasing products, connecting markets, and helping businesses enhance competitiveness while expanding domestic and export markets.

Green production, standardised value chains key to fruit, vegetable sector growth

Green production, standardised value chains key to fruit, vegetable sector growth

Facing mounting pressure from increasingly stringent domestic and international standards, Vietnam’s fruit and vegetable sector is accelerating its shift toward green, safe, and sustainable production models. Beyond changing farming practices, localities and businesses are stepping up efforts to standardise value chains and build brands to achieve growth targets for 2026.

Hiep Phuoc Industrial Park in Ho Chi Minh City. (Photo: VNA)

Southern industrial real estate enters strategic growth phase

Key industrial hubs in the south, including Ho Chi Minh City, Dong Nai and Tay Ninh, are transitioning from a period driven largely by supply expansion and rising land prices to a more refined growth model. This new phase is shaped by infrastructure upgrades, supply chain restructuring, product improvement and greater emphasis on operational performance.