Vietnam

Vietnam ranked No. 10 in total trade value through August with a total of $55.6 billion. Exports totaled $6.62 billion and Imports totaled $48.98 billion, a deficit of $42.36 billion.

U.S. trade with Vietnam rose to $55.6 billion through August

Vietnam’s trade with the United States rose to $55.6 billion through the first eight months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 11 percent above its total trade during the same time period last year. U.S. exports to Vietnam decreased 8.76 percent while U.S. imports from Vietnam rose 14.35 percent. The U.S. deficit with Vietnam was $42.36 billion.

Through August, 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 56.21 percent of Vietnam’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles fell 1.07 percent to $14 billion.
    Exports fell 24.7 percent to $791.01 million. Imports rose 0.83 percent to $13.21 billion.
  • Trade with No. 2 Port of Long Beach rose 25.75 percent to $5.19 billion.
    Exports fell 7.85 percent to $812.23 million. Imports rose 34.86 percent to $4.38 billion.
  • Trade with No. 3 Dallas-Fort Worth International Airport, Texas fell 24.79 percent to $4.99 billion.
    Exports fell 24.85 percent to $239.22 million. Imports fell 24.78 percent to $4.76 billion.
  • Trade with No. 4 Port of Newark rose 15.8 percent to $3.73 billion.
    Exports fell 46.3 percent to $29.05 million. Imports rose 16.86 percent to $3.7 billion.
  • Trade with No. 5 Chicago O’Hare International Airport rose 8.21 percent to $3.33 billion.
    Exports rose 7.8 percent to $144.34 million. Imports rose 8.23 percent to $3.19 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 $2.4 trillion, down 13.21 percent compared to the same period last year. The nation’s exports dropped 16.18 percent to $917.89 billion; imports dropped 11.26 percent to $1.48 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 $564.57 billion, down compared to the same period of last year when the deficit was $575.47 billion.

The top five U.S. exports to Vietnam by value through August were the categories of Cotton; Computer chips; Cell phones, related equipment; Civilian aircraft, parts; and Oil, respectively. They accounted for 37.71 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 36.53 percent of all inbound shipments.

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

  • Cotton fell 15.19 percent compared to last year to $956.81 million.
  • Computer chips rose 20.97 percent compared to last year to $856.31 million.
  • Cell phones, related equipment fell 6.54 percent compared to last year to $243.95 million.
  • Civilian aircraft, parts fell 57.93 percent compared to last year to $235.17 million.
  • Oil rose 52.37 percent compared to last year to $203.89 million.

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

  • Cell phones, related equipment fell 5.8 percent compared to last year to $8.97 billion.
  • Furniture, parts rose 23.67 percent compared to last year to $3.48 billion.
  • Athletic, other textile shoes fell 10.16 percent compared to last year to $1.99 billion.
  • Seats, excluding barber, dental rose 33.38 percent compared to last year to $1.79 billion.
  • Photo-sensitive semi-conductors, parts rose 90.49 percent compared to last year to $1.66 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.