In the month, Vietnam’s export to the country accounted for 9.8 billion USD, while import stood at 1.3 billion USD.

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Trade experts said the US is a pivotal market for Vietnamese businesses seeking to expand their international operations.

Notably, the Southeast Asian country has been attracting significant high-tech investment from the US, especially in microchips and semiconductors as it is jumping on the global science-tech innovation bandwagon.

They stressed that Vietnam has emerged as a crucial player in the US global supply chain, while US enterprises have substantially contributed to Vietnam’s economic transformation and development.

The Vietnam Trade Office in the US suggested domestic firms coordinate with US importers and distributors to adopt flexible payment methods and risk-sharing strategies, particularly during initial market entry phases.

With agricultural and food products, they should consider investing in cold storage facilities and distribution centres at major ports to serve multiple product categories, helping reduce costs and give Vietnamese firms more control over market access.

However, success in the US market requires strict compliance with trade regulations. Vietnamese businesses must carefully navigate potential trade defence and tax evasion measures as well as other restrictions that the US might implement to support domestic production.

Last year, two-way trade exceeded 132 billion USD, with Vietnamese shipment to the US worth nearly 119 billion USD, marking a 23.3% increase from 2023. Key Vietnamese exports to the US market included footwear, wooden furniture, machinery, and optical equipment.

Rice exports grow by over 23%

Vietnam's rice exports from Jan. 1-15 reached 268,700 tons worth nearly US$165.7 million, up 38.7% in volume and 23.28% in value year-on-year, according to the Vietnam Food Association.

2024: Eight commodities with export values over 10 billion USD

In 2024, eight Vietnamese commodities achieved export values exceeding 10 billion USD, contributing to over 69% of the country's total export turnover.

Vietnam’s rice exports to Singapore post strong growth

Vietnam remained the third-largest rice exporter to Singapore with a revenue of 128.9 million SGD, up 28.45% compared to 2023 and accounting for 28.25% of the Singaporean rice market.

Vietnam works to open new export markets

Vietnam’s goods import-export value reached a record 786 billion USD in 2024 and is forecast to continue rising in the coming period. To achieve this, opening new export markets is an essential requirement.

2024: Rice exports hit record highs in volume and value

In 2024, Vietnam's rice exports set new records in both volume and value, solidifying the country's position as one of the world's top three rice exporters. Export volume reached an unprecedented 9 million tonnes, generating nearly 5.8 billion USD in revenue.