Illustration photo: D.T/baodautu.vn

Accounting for more than half of Vietnam's export value to the US is high-tech products (consumer electronics and smartphones), garments, footwear, furniture, and agricultural products.

The US has been an important destination for Vietnamese goods for many consecutive years. Last year, despite economic recession fallout, inflation, and tightened spending, Vietnam exported nearly 97 billion USD of goods to the US. In 2022, Vietnam’s exported goods worth nearly 110 billion USD, making the US the first market to import 100 billion USD per year and to maintain its position as Vietnam's largest importer.

Bilateral trade has increased 300 times, from 450 million USD in 1995, to 124 billion USD by the end of 2022. The upgrading of Vietnam-US relations to a comprehensive strategic partnership last September is the foundation for bilateral trade to soon reach 200 billion USD.