Mr.Believer
posted on 24/04/2023
In 2022, a country became Vietnam's largest export market with an estimated trade turnover of $109.39 billion, and it is also the first export market to exceed $100 billion/year. So which country is it? Let's find out together!
According to the Vietnam Trade Office in the United States, in 2022, the economic and trade relationship between Vietnam and the US continued to show positive growth. The export turnover in December 2022 reached 8.19 billion USD, bringing the total export turnover for the year to 109.39 billion USD. This is also the first time that Vietnamese goods have been exported to a market exceeding 100 billion USD.
Within the group of goods that Vietnam exports to the United States, there are 13 categories that reached over $1 billion, including 4 categories that exceeded $10 billion.
Two categories of goods, including textiles and garment and machinery, equipment, and spare parts, are heading towards the threshold of $20 billion.
Let's have a look at the export value of Vietnam to America over the years (from 2000):
In contrast, imports of goods from the US to Vietnam in 2022 reached $14.47 billion, a decrease of 5.2%, bringing the total two-way trade turnover in 2022 to $123.86 billion, an increase of 11%. The trade surplus reached $94.91 billion, up 17% compared to 2021.
After the United States, China is Vietnam's second largest export market, with a trade value of $57.7 billion. Following China are South Korea, Japan, and Hong Kong (China), with export values of $24.29 billion, $24.23 billion, and $10.94 billion respectively.
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