U.S. goods exports to Vietnam in 2019 were $10.9 billion, up 12.2% ($1.2 billion) from 2018 and up 250.7% from 2009. The top export categories (2-digit HS) in 2019 were: electrical machinery ($1.7 billion), cotton ($1.5 billion), aircraft ($787 million), plastics ($772 million), and machinery ($476 million).
What is Vietnam’s main export?
As of 2017, Vietnam is the largest ASEAN supplier to the U.S. with a net export value of US$48.43 billion.
|Top Exports||Export Value (2017)|
|Phones||US $45.1 billion|
|Textiles||US $25.9 billion|
|Electronic goods/Computers||US $25.9 billion|
|Footwear||US $14.6 billion|
Does the US have a free trade agreement with Vietnam?
The U.S.-Vietnam Bilateral Trade Agreement (BTA) is a comprehensive document covering trade in goods, protection of intellectual property rights, trade in services, investment protection, business facilitation and transparency. … The BTA is the most comprehensive trade agreement Vietnam has signed to date.
Who is Vietnam’s biggest trading partner?
China is Vietnam’s leading trading partner with a total import and export value of US$106.7 billion, making up 22.2% the country’s total imports and exports.
What is the United States main export?
Data is for 2016, in millions of United States dollars, as reported by The Observatory of Economic Complexity. Currently the top thirty exports are listed.
Exports of the United States.
|1||Planes, helicopters, and spacecraft||59,200|
Is Vietnam poor or rich?
From one of the poorest countries in the World with per capita income below US$100 per year, Vietnam is now a middle income country with per capita income of US$1,910 by the end of 2013.
Who is the richest man in Vietnam?
The Hanoi-based conglomerate with total 2019 revenue of about $5.5 billion is chaired by Vietnam’s richest person, Pham Nhat Vuong, who has an estimated net worth of $5.7 billion. Other units of Vingroup operate malls, resorts, real estate, automotive production and a university.
Why was Vietnam important to the US?
China had become communist in 1949 and communists were in control of North Vietnam. The USA was afraid that communism would spread to South Vietnam and then the rest of Asia. It decided to send money, supplies and military advisers to help the South Vietnamese Government.
What are the main industries in Vietnam?
Main Sectors of Industry
Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics and paper as well as tourism and telecommunications. Agriculture represents 14.7% of GDP and employs 39.4% of the total workforce.
Do we trade with Vietnam?
U.S. goods and services trade with Vietnam totaled an estimated $81.3 billion in 2019. Exports were $13.4 billion; imports were $67.9 billion. … The U.S. goods trade deficit with Vietnam was $55.8 billion in 2019. Trade in services with Vietnam (exports and imports) totaled an estimated $3.8 billion in 2019.
Can foreigners open a business in Vietnam?
Yes! Foreigners are allowed to start a business in Vietnam, regardless of indirect or direct investments. The first option is to choose a direct investment. Direct foreign investment indicates a 100% foreign-owned company or a joint venture company in which the foreign investor and a Vietnamese partner work together.
Which brands are made in Vietnam?
Patagonia and The North Face do a majority of its production in Vietnam, as well as H&M, Uniqlo, Gap, J. Crew, among many others. Vietnam is also leading the way in sustainable manufacturing practices in the industry.
What is the unemployment rate in Vietnam?
Vietnam unemployment rate for 2019 was 2.01%, a 0.02% increase from 2018. Vietnam unemployment rate for 2018 was 1.99%, a 0.06% decline from 2017.
What is the top US import?
Machinery (including computers and hardware) – $213.1 billion. Minerals, fuels, and oil – $189.9 billion. Electrical machinery and equipment – $176.1 billion. Aircraft and spacecraft – $139.1 billion.
What food does the US import?
United States agriculture imports total $127.6 billion with coffee and cocoa, fresh and processed vegetables, and grains and feeds accounting for the majority.
Where does the US get its oil?
The largest sources of U.S. imported oil were: Canada (49%), Mexico (7%), Saudi Arabia (6%), Russia (6%), and Colombia (4%). According to the American Petroleum Institute, the oil and natural gas industry supports nine million U.S. jobs and makes up seven percent of the nation’s gross domestic product.