Vietnam-US trade turnover exceeds $80 billion in nine months

This development highlights the strategic partnership between both nations and holds promise for continued economic growth and cooperation.

Vietnam’s export turnover to the US reached $8.11 billion in September, representing an increase of 13.5% year on year.

This brings the total export turnover to the US to $70.23 billion by the end of September.

The export of goods to the US decreased by $15 billion compared to the previous year at the beginning of the year due to declining market demand.

Currently, the US remains Vietnam’s largest export market, accounting for 30% of the country’s export value.

In contrast, the import turnover from the US reached $10.26 billion by the end of September, down by $900 million compared to the same period from last year.

The US is still Vietnam’s second-largest trading partner, with a total import-export turnover of nearly $80.5 billion in the past nine months. Export turnover to the US is expected to recover in the upcoming months due to increased market demand and decreased inventory.

In addition, Vietnam is expected to be a potential market for US companies due to its high GDP growth rate and large population. With an average annual growth rate of nearly 7% Vietnam’s economy is projected to continue expanding, representing opportunities for businesses in all fields.