Vietnam

Vietnam ranked No. 10 in total trade value through July with a total of $46.43 billion. Exports totaled $5.83 billion and Imports totaled $40.6 billion, a deficit of $34.77 billion.

U.S. trade with Vietnam rose to $46.43 billion through July

Vietnam’s trade with the United States rose to $46.43 billion through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.76 percent above its total trade during the same time period last year. U.S. exports to Vietnam decreased 1.46 percent while U.S. imports from Vietnam rose 12.77 percent. The U.S. deficit with Vietnam was $34.77 billion.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Port of Long Beach; No. 3 Dallas-Fort Worth International Airport, Texas; No. 4 Port of Newark; and No. 5 Chicago O’Hare International Airport. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 Dallas-Fort Worth International Airport, Texas; No. 3 Port of Long Beach; No. 4 Port of Newark and No. 5 Chicago O’Hare International Airport. In the current time period, the top five accounted for 55.76 percent of Vietnam’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles fell 4.74 percent to $11.75 billion.
    Exports fell 24 percent to $707.01 million. Imports fell 3.17 percent to $11.04 billion.
  • Trade with No. 2 Port of Long Beach rose 32.65 percent to $4.64 billion.
    Exports fell 6.08 percent to $741.33 million. Imports rose 43.93 percent to $3.9 billion.
  • Trade with No. 3 Dallas-Fort Worth International Airport, Texas fell 26.21 percent to $3.64 billion.
    Exports fell 16.97 percent to $204.28 million. Imports fell 26.69 percent to $3.44 billion.
  • Trade with No. 4 Port of Newark rose 12.44 percent to $3.11 billion.
    Exports fell 48.73 percent to $26.54 million. Imports rose 13.61 percent to $3.08 billion.
  • Trade with No. 5 Chicago O’Hare International Airport fell 0.22 percent to $2.75 billion.
    Exports rose 7.8 percent to $124.55 million. Imports fell 0.57 percent to $2.62 billion.

Vietnam ranked No. 10 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 13.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Vietnam by value through July were the categories of Cotton; Computer chips; Civilian aircraft, parts; Cell phones, related equipment; and Oil, respectively. They accounted for 38.58 percent of total exports to Vietnam.

The value of the top five categories of U.S. imports from Vietnam –– Cell phones, related equipment; Furniture, parts; Athletic, other textile shoes; Seats, excluding barber, dental; and Photo-sensitive semi-conductors, parts –– accounted for 35.8 percent of all inbound shipments.

Looking more closely at U.S. exports to Vietnam:

  • Cotton fell 13.68 percent compared to last year to $894.02 million.
  • Computer chips rose 12.01 percent compared to last year to $711.54 million.
  • Civilian aircraft, parts rose 55.46 percent compared to last year to $232.52 million.
  • Cell phones, related equipment fell 7.33 percent compared to last year to $207.16 million.
  • Oil rose 104.73 percent compared to last year to $203.89 million.

Looking more closely at U.S. imports from Vietnam:

  • Cell phones, related equipment fell 8.07 percent compared to last year to $6.95 billion.
  • Furniture, parts rose 20.14 percent compared to last year to $2.91 billion.
  • Athletic, other textile shoes fell 9.66 percent compared to last year to $1.76 billion.
  • Seats, excluding barber, dental rose 30.14 percent compared to last year to $1.49 billion.
  • Photo-sensitive semi-conductors, parts rose 112.09 percent compared to last year to $1.42 billion.

In the latest annual figures available, Vietnam recorded $77.56 billion in trade with the United States. Total U.S. exports to Vietnam were $ 10.88 billion and imports from Vietnam were $66.68 billion. The U.S. deficit with Vietnam was $55.8 billion.