US Market Sees Robust Demand For Vietnamese Goods

	Vietnam Disappointed by US Decision market economy recognition
	Costa Rica Recognizes Vietnam As A Market Economy

According to the General Department of Customs, exports to the US, Vietnam's largest export market, have continued to recover strongly in recent months. After a slow start to the year with monthly export values ranging from US$8.3 to US$8.9 billion, and even dipping as low as US$7 billion in some months, exports have consistently exceeded US$10 billion in the past two months.

Computers, electronics, and their components are among the top export items to the US. Photo: baodautu

Specifically, export turnover in June 2024 reached US$10.5 billion, and in July, it hit US$10.95 billion. This growth has driven total exports to the US in the first seven months of the year to U$66.09 billion, a 24.4% increase compared to the same period last year (equivalent to an additional US$13 billion), making the US the fastest-growing export market for Vietnam.

On average, Americans have spent nearly US$9.5 billion per month over the past seven months on goods from Vietnamese suppliers.

The top export categories to the US in the first six months of 2024 include computers, electronics, and components (US$11.16 billion, up 51.6%), phones and components (US$5.5 billion, up 34.3%), machinery, equipment, tools, and parts (US$9.19 billion, up 15.8%), textiles (US$7.21 billion, up 3.6%), footwear (US$3.84 billion, up 14.6%), and wood products (US$4.07 billion, up 24.6%).

Since the beginning of the year, Vina T&T Group, a specialized agricultural export company, has received numerous export orders to various markets, with the US being the largest. The company exports a diverse range of products, including dragon fruit, coconut, milk fruit, mango, longan, and rice. The influx of orders has led to a 26% increase in the company's export revenue in the first seven months compared to the same period last year.

Dragon fruit is one of the agricultural products exported to the US market.

"The US has always been our traditional market. We regularly export a variety of agricultural products to the US, including fruits, rice, and fish sauce. In particular, orders from the US have surged significantly in recent months," said Nguyen Dinh Tung, CEO of Vina T&T Group.

With years of experience exporting to the US, Tung said that "The US market is demanding and has high standards, especially for agricultural products. However, for businesses that operate with integrity and meet buyer requirements, there is no shortage of opportunities."

As the US approaches the holiday season, leading to increased imports and depleted inventories, demand for Vietnamese products is expected to soar. Economist Vu Vinh Phu believes that Vietnamese exports to the US, including electronics, footwear, textiles, agricultural products, machinery, and equipment, will continue to recover. These products have become increasingly competitive in terms of both quality and price, thanks to significant foreign direct investment in production and exports, enabling deeper integration into global supply chains and gaining the trust of US importers. If the current growth trend continues, bilateral trade between the two countries could reach US$135 billion this year.

Vietnam's export growth has gained momentum in recent months, fueled by a strengthening US economy. A wide range of Vietnamese products, from textiles and footwear to electronics, and wood products, is expected to experience continued growth as US consumer demand rebounds.

Bac Lieu Builds 120 Houses for Disadvantaged Families The Union of Friendship Organizations of the southern province of Bac Lieu mobilizes capital to fund projects to build rural houses.

Vietnamese Women in Japan Host Discussion on Mental Health The Vietnamese Women's Association of Kansai region (Japan) organized a talk show on mental health for the members of its community on August 4.