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Trade surplus with America exceeds US$100 billion

07-03-2023

Viet Nam enjoyed a trade surplus of US$100 billion with the Americas for the first time in 2022, according to the Ministry of Industry and Trade (MoIT).

In the year, trade with the continent accelerated to US$153.9 billion, representing a year-on-year increase of 10.7 percent. In which, Viet Nam’s exports to America reached US$128.2 billion, up 12.4 percent and its imports reached $25.7 billion, up 3 percent on-year.

Trade between Viet Nam and major markets in the Americas saw stable growth, such as that with the U.S. up 11 percent, Brazil up 6.6 percent, Canada up 16.5 percent, Mexico up 7.1 percent, Chile up 9 percent, and Argentina up 8.3 percent.

For the U.S. market, the two-way trade trade turnover increased by 11 percent to US$123.86, of which Viet Nam’s exports to the U.S. hit US$109.4 billion, up 13.6 percent compared to 2021.

Deputy Minister of Industry and Trade Do Thang Hai said that 2023 would continue to be a challenging year, thus market situation should be closely monitored and more solutions needed to maintain and expand export markets.

Source: VGP

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