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Vietnam's foreign trade has been growing fast since state controls were relaxed in the 1990s. The country imports machinery, refined petroleum, and steel; it exports crude oil, textiles and garments, and footwear. The balance of trade has in the past been positive but recent statistics (2004) showed that it was negative.
U.S. trade data released on Thursday showed the country's deficit with Vietnam reached $102 billion in the first ten months of this year, nearly a 20% increase over the same period in 2023.
Vietnam's GDP grew by 7.09% in 2024, ahead of government forecasts of 6.5%. Yet Vietnam's trade surplus with the U.S. could put it at risk of new tariffs.
In 2011 the Central Committee of the Communist Party of Vietnam, at the 11th National Congress of the Communist Party of Vietnam, released an official statement about Vietnam's foreign policy and a section of the statement stated: "Vietnam is a friend and reliable partner of all countries in the international community, actively taking part in ...
Vietnam's large trade surplus with the United States may reignite tensions with Washington in the event of a second Trump presidency, analysts warned, as exports of solar panels and other ...
U.S. - Vietnam Trade Relations refer to the bilateral trade relationship between the United States of America (U.S.) and the Socialist Republic of Vietnam (Vietnam) from 1990s to 2012. After more than two decades of no economic relationship since the end of the Vietnam War , [ 1 ] the two governments reestablished economic relationship during ...
In the early 2020s, despite trade wars with Vietnam's major trade partners, a pandemic and the increasing trend in deglobalisation, Vietnam has still managed to become Asia's top-performing economy. [65] Since 2000, Vietnam has now managed to manufacture higher-value goods with better paying jobs due to its more highly skilled workers.
BEIJING (Reuters) -China and Vietnam inked 14 documents spanning cross-border railways to crocodile exports on Monday, after Chinese President Xi Jinping met with Vietnam's new leader To Lam in ...