How Vietnam and the US build a strong trade relationship

A stunning nation called Vietnam can be found in Asia’s southeast. The country of Vietnam attracts both tourists and traders.  

The united states is a beautiful country that has the pacific ocean on the west side and the Atlantic ocean on the east side. Along with this, on the northern side, the U.S. shares its border with Canada, and on the southern side, the U.S. shares its border with Mexico. 

According to our Exim Trade Data, in terms of GDP, Vietnam is standing in the 37th position & the United States is standing in the 1st position throughout the world. 

In terms of Purchasing Power Parity, Vietnam took the 23rd position & the united states took the 8th position in the world. 

In this article, we will understand Vietnam & the united state’s relationship in the international import-export-trading market. 

According to our updated trade data, If we talk about the trade relationship between Vietnam & the united states. Their trade relation is going on a good note, and both the countries Vietnam & the united states are earning lots of money in the import-export business. 

Our A.I. system collected a lot of data about import-export-trading in Vietnam & the united states. which is beneficial for you to know to expand your business in these two cities. 

Most import partners of Vietnam 

According to our updated 2021 Exim trade data, In the below list, we mentioned the top import partners of Vietnam with total USD value and total value percentage. 

Most import partners of the united states 

According to our updated 2021 Exim trade data, In the below list we mentioned the top import partners of the united states with total USD value and total value percentage. 

The Top five products Vietnam exported 

The items mentioned below represent the most exported items of Vietnam with their total USD value and percentage : 

1. Electrical machinery & equipments – 172.8 billion US Dollars ( 42.5% of total exports). 
2. Machinery items including computers – $33.4 billion US Dollars ( 8.2% ). 
3. Footwear – $25.2 billion US Dollars (6.2%)
4. Furniture, bedding, lighting, signs, prefabricated buildings – $19.1 billion U.S. Dollars (4.7%)
5. Knit or crochet clothing and accessories – $17.8 billion U.S. Dollars (4.4%) 

The top five products the united states exported 

The items mentioned below represent the most exported items of the united states with their total USD value and percentage : 

1. Mineral fuels, including oil – $239.8 billion U.S. Dollars (13.7% of total exports)
2. Machinery, including computers – $209.3 billion U.S. Dollars (11.9%) 
3. Electrical machinery, equipment: $185.4 billion US Dollars (10.6%)
4. Vehicles: $122.2 billion U.S. Dollars (7%)
5. Optical, technical, and medical apparatus: $91.7 billion U.S. Dollars (5.2%)

The top three Vietnamese foods famous across the world for export 

Our A.I. system collects the data on food consumption & Famous exportation of Vietnamese food. In the given below, we have mentioned the top three Vietnamese food famous throughout the world. 

• Dairy products – the export of dairy products is increasing rapidly. Its total export value in 2021 is 4.1 billion U.S. Dollars, and it has been continuously rising for the last five years. In the comparison of the last five years, the Compound Annual Growth Rate (CAGR) has risen by almost 16.01 % 
• Seafood: We all know that Vietnam is world-famous for exporting seafood items, and Vietnam stands in the third position in the world of exporting sea products after china & Norway. Every year Vietnam exports sea products worth more than 5.8 billion U.S. Dollars. 
• Fruits and Vegetables: According to our updated data, the fruits and vegetable sector is the most booming sector in Vietnam. Over the last five years, its export value is Quickly risen by 43 %. In terms of exporting fruits and vegetables, vegetables cover only 20% of the export market, but the fruits cover the remaining 80% of the export market. Our updated data shows that Vietnam will export fruits and vegetable products worth more than 3.8 billion U.S. Dollars in 2021. 

The top three united states food products are famous across the world for export. 

• Soybeans – it is the most famous export food item in the united states. In fact, it built its position in the top 10 export list items of the united states. United states make varieties of products from soybean and export them all throughout the world. 
• Corn – is also one of the most famous food products that the united states exports across the globe. United states created the fructose corn syrup that is used in cookies, junk food and drinks, etc. Basically, corn is exported in its standard form, but their varieties of processed products are famous that Americans consume & export throughout the world. 
• Nuts: In terms of exporting nuts items, the united states dominate the international trade market. They export their nuts to European countries & Asian countries, and the most nuts importing countries are India & china. The united states export varieties of nut items such as almonds, walnuts, pecans, pistachios, etc. these all are world-famous, and their taste is delicious. 

Conclusion: According to the above data, we can see that both the countries Vietnam & the united states export lots of products that generate a massive amount of revenue for their country. Both the countries exchange their goods & services with each other, and both don’t have any trade conflicts and enjoy their trade relationship. So we can say that “Vietnam & the united states trade relationship is going very peaceful .”If you want to know more about Vietnam & the united states trade statistics, then feel free to reach out to us at info@eximtradedata.com, call us at +91-9625812393 or visit our website Exim Trade Data