According to the Ministry of Industry and Trade, in January 2023, Vietnam's exports to the Americas region reached USD 8.21 billion and imports reached USD 1.65 billion, with a trade surplus of about USD 6.56 billion.

In particular, the US is still Vietnam's leading trading partner in this region. According to statistics, in January 2023, Vietnam's export turnover to the U.S. reached USD 7.2 billion, imports reached USD 860 million.

The second place in the region is the Canadian market with exports of about USD 360 million, and the imports of about USD 45 million.

In 2022, import-export turnover between Vietnam and the Americas region recorded a very positive growth, reaching USD 153.9 billion, an increase of 10.7% compared to 2021. In which, exports of Vietnam reached USD 128.2 billion, an increase of 12.4% and imports reached USD 25.7 billion, an increase of 3%.

Specifically, trade turnover between Vietnam and major markets in the Americas recorded stable growth such as the US increased by 11%, Brazil increased by 6.6%, Canada increased by 16.5%, Mexico increased by 7. 1%, Chile increased by 9% or Argentina increased by 8.3%, etc.

Particularly for the US market, the total bilateral trade turnover in the past year reached approximately USD 123.86 billion (an increase of 11% compared to 2021). In which, Vietnam's exports to the US reached USD 109.4 billion (an increase of 13.6% compared to 2021).

The products that Vietnam has strengths in the US market include processed products, agricultural products, forest products, and garments. In which, leading is the group of industrial products such as machinery, equipment, other tools and spare parts (reaching USD 20.1 billion), computers, electronic products and components (USD 15.9 billion USD), phones and components of all kinds (USD 11.9 billion), textiles and garments (USD 17.4 billion), shoes of all kinds (USD 9.6 billion), etc.

In terms of agricultural, forestry and fishery products, Vietnam also has a foothold in this market. Like coffee products, the whole country exported nearly 129,400 tons of coffee to the US, reaching a turnover of USD 305.4 million, decreased by 3.3% in volume, but increased by 11.6% in value compared to 2021.

In addition, thanks to the positive effects of free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-Chile Agreement (VCFTA), import-export turnover between Vietnam and the group of 4 countries of Canada, Mexico, Chile, Peru in 2022 reached USD 15.2 billion, an increase of 10.9% compared to 2021. In which, Vietnam's exports to this group of countries reached USD 13.1 billion, an increase of 8.7%; imports reached USD 2.1 billion, an increase of 26.9%.

Kylie Nguyen