With a population of some 85 million, Vietnam exported US$8.6 billion worth of merchandise to the United States in 2006, up 29.2% from 2005 and up 257.7% in 4 years.
Vietnamese imports from the U.S. slipped 7.8% to $1.1 billion in 2006, although Vietnamese imports from America were up 89.6% since 2002.
In terms of the merchandise flow between the two countries, America’s trade deficit with Vietnam was $7.5 billion in 2006, up 311% from 2002. The U.S. trade deficit with Vietnam increased 37.3% in 2006 – up from the 32.3% deficit increase in 2005 from the year earlier.
Vietnamese Exports to U.S.
Of the $8.6 billion in American imports from Vietnam in 2006, the following product categories had the highest values.
- Cotton apparel & household furnishings … US$1.9 billion (22% of Vietnam from U.S. imports, up 24.4% from 2005)
- Other textile apparel & household furnishings … $1.3 billion (14.8%, up 8.8%)
- Crude oil … $1 billion (12.1%, up 71.2%)
- Furniture & other household items (e.g. baskets) … $894.3 million (10.4%, up 29.6%)
- Sporting & camping apparel, footwear & gear … $717.9 million (8.4%, up 34.7%)
- Fish & shellfish … $653.8 million (7.6%, up 3.5%)
- Leather, rubber & other footwear … $350 million (4.1%, up 29.5%)
- Unroasted coffee beans … $199.9 million (2.3%, up 34.9%)
- Computer accessories, peripherals & parts … $187 million (2.2%, up 74.2%)
- Nuts & preparations … $168.7 million (2%, up 0.5%).
Fastest-Growing Vietnamese Exports to U.S.
Below are American imports from Vietnam in 2006 with the highest percentage sales increases from 2005.
- Semi-finished iron & steel mill products … US$5.7 million (up 28,330% from 2005)
- Plywood & veneers … $2.1 million (up 1201%)
- Uncut & unset diamonds … $6.8 million (up 513%)
- Household & kitchen appliances … $4.8 million (up 474%)
- Televisions, DVD players & other video equipment … $71 million (up 250%).
Vietnamese Imports from U.S.
Of the $1.1 billion in American exports to Vietnam in 2006, the following product categories had the highest values.
- Plastic materials …US$86.8 million (7.9% of Vietnam to U.S. exports, up 11.7% from 2005)
- Civilian aircraft … $71.5 million (6.5%, down 79%)
- Logs & lumber … $63.9 million (5.8%, up 55%)
- Raw cotton … $45.8 million (4.2%, down 2%)
- Dairy products & eggs … $41.7 million (3.8%, up 7%)
- Non-textile apparel & household goods … $34.4 million (3.1%, up 8.3%)
- New & used passenger cars … $32.4 million (2.9%, up 156%)
- Meat & poultry … $26.3 million (2.4%, up 1%)
- Semiconductors … $25 million (2.3%, up 78%)
- Other industrial machines … $24.6 million (2.2%, up 41.1%).
Fastest-Growing Vietnamese Imports from U.S.
Below are American exports to Vietnam in 2006 with the highest percentage sales increases from 2005.
- Nuts … US$12.8 million (up 3,129% from 2005)
- Industrial rubber products … $1.9 million (up 396%)
- Copper … $2.7 million (up 256%)
- Soybeans … $7.4 million (up 231%)
- Other non-ferrous metals … $5.4 million (up 211%).
Sources
This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
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