Vietnam’s trade relationship with the United States has grown significantly, making it one of the top exporters to the U.S. and an important link in global supply chains. Here are key aspects of Vietnam’s exports to the U.S. and a comparison with other major exporters.

Vietnam’s Economic Ties with the U.S.

1. Export Significance: In the past year, Vietnam’s goods exports to the U.S. were worth $142 billion, accounting for 30% of Vietnam’s GDP.
2. Trade Partner Status: Vietnam ranks as the sixth-largest exporter to the U.S., following Mexico, China, Canada, Germany, and Japan.
3. Market Dependency: The U.S. is Vietnam’s largest market, receiving approximately 29% of Vietnam’s total exports, making Vietnam highly sensitive to shifts in U.S. trade policies.
4. Foreign Investment Surge: The ongoing U.S.-China trade war has resulted in a surge in foreign investment in Vietnam, as companies move their manufacturing operations from China to Vietnam to avoid tariffs.
5. Economic Impact: Vietnam’s expanding export sector strengthens its economic ties with the U.S. and positions the country as a critical player in global supply chains.
6. Trade Surplus: Vietnam enjoys a trade surplus with the U.S., ranking fourth globally in trade imbalances, behind China, the EU, and Mexico.
7. Vulnerability to Tariffs: Vietnam faces potential risks due to its trade surplus and exposure to U.S. tariffs, which could impact its export growth.
8. Tariff Criteria: Vietnam meets several criteria that could lead to higher U.S. tariffs, including VAT levies, non-trade barriers, and being on the U.S. currency manipulation watchlist.

Other Major Countries Exporting to the U.S.

The following countries are among the top exporters to the U.S., contributing significantly to the American economy with their diverse range of products.

Rank	Country	Key Export Products	Export Value to U.S. (Approx.)	Percentage of GDP
1	Mexico	Automotive, electronics, machinery	$500 billion (2021)	27.6%
2	China	Electronics, machinery, furniture	$450 billion (2021)	2.5%
3	Canada	Energy, machinery, automotive	$400 billion (2021)	20%
4	Germany	Vehicles, machinery, pharmaceuticals	$150 billion (2021)	3.7%
5	Japan	Vehicles, machinery, electronics	$120 billion (2021)	3.7%
6	Vietnam	Electronics, textiles, footwear	$142 billion (2022)	30%
7	South Korea	Electronics, automobiles, machinery	$80 billion (2021)	5%
8	United Kingdom	Machinery, pharmaceuticals, vehicles	$60 billion (2021)	9%
9	Brazil	Agricultural products, raw materials	$40 billion (2021)	4%
10	France	Aerospace, luxury goods, pharmaceuticals	$40 billion (2021)	3.4%

Key Observations:

• Top Exporters: Mexico, China, and Canada lead U.S. imports due to strong industrial and economic ties.
• Diverse Trade Portfolios: Countries export a wide range of products, including machinery, electronics, automobiles, and pharmaceuticals.
• Vietnam’s Unique Position: Vietnam’s rapid export growth is largely driven by the e-commerce and technology sectors, making it more susceptible to changes in U.S. trade policy.
• Tariff Vulnerability: Countries with high trade surpluses, such as China, Mexico, and Vietnam, may face greater risks of U.S. tariffs or trade restrictions.

Conclusion

Vietnam’s growing trade relationship with the U.S. highlights both opportunities and risks. While Vietnam benefits from strong exports and foreign investment, its economic dependence on the U.S. makes it vulnerable to shifts in trade policies. Other major exporters to the U.S., including China, Mexico, and Canada, also play crucial roles in global trade, each with unique advantages and challenges in the evolving international market landscape.