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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.
Last year, the Southeast Asian manufacturing hub posted a $104 billion trade surplus with Washington, lower only than China, the European Union and Mexico, U.S. data show. "Vietnam (is) most ...
11 April –.A court sentences tycoon Trương Mỹ Lan to death over a $12.46 billion financial fraud case. [2]17 April – Vietnam mounts a $24 billion rescue for the Sai Gon Joint Stock Commercial Bank, which is currently involved in a massive fraud case.
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"The US-China Trade War: Impact on Vietnam." (2019). online Archived 14 August 2022 at the Wayback Machine; Hiep, Nguyen Quang. "Vietnam-China trade relations and the effects of the US-China trade war." Business and Economic Research 9.4 (2019): 1-11. Hood, Steven J. Dragons Entangled: Indochina and the China-Vietnam War (ME Sharpe, 1993).
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.
Throughout the next five years after 2007, Vietnam ran a trade deficit with the rest of the world in the tens of billions of dollars, with the record trade deficit in 2008 of US$18 billion. [101] The account deficit has since decreased. In 2012, Vietnam recorded a trade surplus of US$780 million, the first trade surplus since 1993.
Vietnam, although a relatively young and small nation, has successfully established trade relations with dozens of countries worldwide. This is especially evident in the number of free trade agreements (FTAs) that the country has signed and is participating in. Being part of the Association of Southeast Asian Nations (ASEAN), economic opportunities for Vietnam expands beyond bilateral trade ...