According to General Statistics Office, in the first 8 months of 2024, the export turnover of goods to the US reached 77.9 billion USD, up 25.4%; import turnover of goods from this market reached 9.8 billion USD, up 6.9%.
In the past 8 months, the US was Vietnam's largest export market with an estimated turnover of 77.9 billion USD; the trade surplus to the US was estimated at 68.1 billion USD, up 28.6% over the same period last year.
According to Vietnam Trade Office in the United States, there are many reasons for continuous growth of trade between two countries in recent times, even in context of many fluctuations in the world situation. First of all, relationship between two countries is increasingly developing. In 2013, two countries established a Comprehensive Partnership and by 2023, the two countries officially upgraded to a Comprehensive Strategic Partnership. In addition, Vietnamese goods are increasingly popular in the US market due to their continuously improved quality, updated trends and competitive prices. On the other hand, changes in the supply chain as well as wave of investment shifts have contributed to enhancing production capacity of Vietnamese enterprises. This also creates opportunities and room for Vietnamese goods to increase exports to the world in general and the US market in particular.
Topping list of the most exported items to the US market in the first 7 months of the year are computers, electronic products and components with an export turnover of 13.19 billion USD, an increase of 50.82% over the same period in 2023, accounting for 19.87% of total export turnover of goods from Vietnam to the US market.
Second on this list are machinery, equipment, tools and spare parts with an export turnover of 11.14 billion USD, an increase of 19.87% over the previous month, accounting for 16.79%.
In addition, the US market also favors textiles, footwear, agricultural products...from Vietnam.
On other hand, Vietnam also imports a large amount of technological equipment, production materials and agricultural products from the United States, contributing to promoting industrialization process and improving domestic production capacity.
It is forecasted that in the coming time, exports to the United States will continue to recover and grow as market demand increases and inventories decrease. The biggest concern when exporting to the United States is the country's increasing application of trade defense measures on imported goods.
However, exporting goods to the US market is facing barriers from trade defense. To limit risk of being investigated and applying defense measures, Vietnamese enterprises need to increase their understanding of law on trade defense regulations, create added value on exported products and enterprises need to store export data to cooperate with investigation agency when an incident occurs.
To boost Vietnam's exports to the United States, according to authorities, State management agencies and businesses need to coordinate to implement a series of synchronous and effective measures. First, State management agencies need to develop and implement clear and practical export support policies, create tax incentives, provide information and legal support for businesses and simplify administrative procedures related to exports. Improving capacity and quality of logistics infrastructure is also a key factor, helping to reduce costs and time for transporting goods, thereby enhancing the competitiveness of Vietnamese goods in the US market. In addition, establishing and maintaining training programs and supporting businesses in improving product quality and complying with US standards and regulations also plays an important role. Businesses need to be provided with tools and knowledge to meet increasing demands of this market, from improving production processes to improving packaging and marketing quality.
In addition, businesses need to proactively build effective export strategies by researching and understanding market trends, understanding needs and preferences of US consumers. At the same time, participating in international exhibitions and trade events is also an opportunity for Vietnamese businesses to promote their brands and establish relationships with partners and distributors in the United States.

Source: Vitic/ congthuong.vn