The January-November period saw two-way trade between Vietnam and the U.S. hitting some US$114.9 billion, surpassing the 2021 figure by US$5 billion, according to the Ministry of Industry and Trade.

The U.S. remains Vietnam’s largest export partner. Overall revenue for the 11-month period reached US$101.5 billion, soaring by 18% year-on-year and accounting for roughly 30% of total export.

Vietnam spent US$13.4 billion on imports from the U.S.

Trade cooperation has been recognized as one of the pinnacles in Vietnam-U.S. relations, said Prime Minister Pham Minh Chinh during a meeting with Michael Michalak, senior vice president and regional managing director of the U.S.-ASEAN Business Council.

Michalak lauded Vietnam’s accomplishments in high vaccination, economic openness and rapid recovery.

According to Michalak, Vietnam has attracted investment inflows and has various benefits in the global supply chain shift.

Representatives from leading firms in the U.S. planned to increase business in Vietnam with advanced equipment and cutting-edge technology, particularly in the healthcare, finance and banking, smart agriculture, and sustainable energy sectors, among others.

Source: The Saigon Times
Dec 07, 2022