Vietnam"s exports enjoy robust growth in US market

Despite regional peers such as Japan, the Republic of Korea, Singapore, and Taiwan suffering from a decline in exporting goods to the United States, Vietnam has successfully maintained robust growth during the first nine months of the year.

According to the General Department of Customs, Vietnam's exports to the US reached US$44.65 billion during the reviewed period, up 27.6 per cent on year. This therefore represents the country’s largest export market, accounting for 22.9 per cent of total turnover.

At present, Vietnam is also benefiting from the effects of the ongoing US-China trade war, with several businesses changing their supply chains as a means of avoiding additional taxation placed on Chinese goods. This has led to several prominent US firms seeking a supply source of goods from alternative markets.

John Caplan, head of North America B2B at Alibaba Group, noted that with the country’s exports to the US growing in recent years, this has created a window of opportunity for local businesses to be proactive and penetrate the market across the Pacific.

vietnams exports enjoy robust growth in us market

Photo: Industry and Trade newspaper

Mary Tarknowka, executive director of AmCham Vietnam HCMC, stated her belief that the US will remain as the main export market for Vietnamese firms in the coming years.

Despite the positive signs of growth, the demanding market also requires exporters to improve their capacity and actively co-operate to build new supply chains in order to sustainably increase exports.

In recent months, Amcham Vietnam has received a lot of requests from US businesses to find sources and suppliers of goods from within the domestic market, noted Ms Tarknowka.

Aside from the need to comply with strict standards regarding food safety and environmental protection, local firms must utilize digital channels as a means of boosting exports.

In this regard, Kuo Zhang, general manager of Alibaba.com, said that hundreds of thousands of enterprises worldwide are now taking advantage of e-commerce channels in order to reach customers, as opposed to using time-consuming and complex traditional channels.

According to Vu Trung Son, director of Vietnam Agarwood Center if businesses are able to overcome challenges and become more familiar with the global trading environment, they will reap the benefits by enjoying greater efficiency and larger profits.

Source: VOV

Related News

Many cases related to production of fake food prosecuted

Many cases related to production of fake food prosecuted

VCN - The production of fake food products has become more complicated. The Environmental Crime Prevention Police Department (C05, Ministry of Public Security) has proactively taken measures to combat, prevent and prosecute many violations.
Seafood enterprises shift business and export

Seafood enterprises shift business and export

VCN - Facing difficulties and challenges caused by the global economic downturn, many seafood businesses have promptly adjusted their production, business and export strategies.
The key to opening new doors for agricultural enterprises

The key to opening new doors for agricultural enterprises

VCN - Sustainable development is the future of agricultural enterprises. Enterprises that have made early changes to this trend are receiving positive support from international investment funds, not only in terms of capital but also in terms of strategy, market, and supply chain.
Seafood businesses face difficulties with S/C to export to Europe

Seafood businesses face difficulties with S/C to export to Europe

VCN - Seafood enterprises have encountered many difficulties and shortcomings - especially related to the certificate of origin (S/C), leading to the fact that enterprises cannot obtain the necessary documents for exporting seafood shipments to Europe.

Latest News

Footwear industry takes bold steps towards green growth

Footwear industry takes bold steps towards green growth

Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
Vietnam likely earn 5 billion USD from rice exports this year

Vietnam likely earn 5 billion USD from rice exports this year

Vietnam’s rice exports are expected to reach a record turnover of about 5 billion USD this year, as high demand from many large and traditional markets, such as the Philippines and Indonesia, continues.
Australian plums to be available in Vietnam

Australian plums to be available in Vietnam

Australian plums will soon be on shelves in Vietnam under the two-way agricultural market access agreement between the two countries that brings Australian plums to Vietnam and Vietnamese passion fruit to Australia, according to the Australian Government.
How to quarantine imported aquatic products for domestic consumption?

How to quarantine imported aquatic products for domestic consumption?

VCN - Enterprises importing aquatic raw materials for export production or export processing for domestic consumption encounter difficulties in implementing quarantine.

More News

Vietnam trade mission in Germany seeks cooperation in automobile industry

Vietnam trade mission in Germany seeks cooperation in automobile industry

The Vietnam trade mission in Germany coordinated with the Berlin – Brandenburg automotive association (aBB) and authorities of the Vietnamese province of Nam Dinh to hold a roundtable on cooperation in the automobile industry.
New markets help fruit exports grow to record revenues

New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.
Vietnam aims for green, sustainable tourism

Vietnam aims for green, sustainable tourism

VCN - Green tourism is increasingly gaining attention and becoming an important development direction for many countries, including Vietnam. Green tourism will be an important lever for developing a green economy, helping green growth, towards the goal of achieving Net Zero (net zero emissions) by 2050.
Enhancing the role of localities in developing supporting industries

Enhancing the role of localities in developing supporting industries

VCN - Some localities with great potential for developing supporting industries have proactively issued their own policies to support businesses in training human resources, helping businesses access the global production chain.
Mekong Delta promotes clean agricultural production to achieve Net Zero

Mekong Delta promotes clean agricultural production to achieve Net Zero

Localities in the Mekong Delta region have been progressively developing roadmaps for clean agricultural production as an effort to gradually guide Vietnam's agricultural sector towards the goal of "Net Zero" by 2050.
Wood export target of 15.2 billion USD feasible, challenges remain

Wood export target of 15.2 billion USD feasible, challenges remain

Despite market recovery, the wood industry needs to overcome formidable challenges to realise the export revenue target of 15.2 billion USD for the whole year, according to insiders.
Serious shortage and many impacts on seaport human resources

Serious shortage and many impacts on seaport human resources

VCN - According to the assessment of seaport enterprises in Vietnam, from 2024-2028, human resources at seaports will have strong changes in demand, due to the impact of technological trends to meet the task of developing the seaport economy in Vietnam.
Exports gain momentum

Exports gain momentum

VCN - With a highly open economy like Vietnam, exports are an important driving force for economic growth. In many major markets, the recovery in year-end consumption of goods creates more room for industries to contribute to export turnover.
The driving force for businesses to "sprint" at the end of the year

The driving force for businesses to "sprint" at the end of the year

VCN - Although the economy has shown many signs of recovery and business results are positive, the difficult period has not yet passed, forcing businesses to continue to make efforts to "sprint" in the last months of 2024.
Read More

Your care

Latest Most read
Footwear industry takes bold steps towards green growth

Footwear industry takes bold steps towards green growth

Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
Vietnam likely earn 5 billion USD from rice exports this year

Vietnam likely earn 5 billion USD from rice exports this year

Vietnam’s rice exports are expected to reach a record turnover of about 5 billion USD this year, as high demand from many large and traditional markets, such as the Philippines and Indonesia, continues.
Australian plums to be available in Vietnam

Australian plums to be available in Vietnam

Australian plums will soon be on shelves in Vietnam under the two-way agricultural market access agreement between the two countries that brings Australian plums to Vietnam and Vietnamese passion fruit to Australia, according to the Australian Government.
How to quarantine imported aquatic products for domestic consumption?

How to quarantine imported aquatic products for domestic consumption?

VCN - At the same time, ensuring state management of imported aquatic products for processing and export to change the purpose of domestic consumption food.
Vietnam trade mission in Germany seeks cooperation in automobile industry

Vietnam trade mission in Germany seeks cooperation in automobile industry

The Vietnam trade mission in Germany coordinated with the Berlin – Brandenburg automotive association (aBB) and authorities of the Vietnamese province of Nam Dinh to hold a roundtable on cooperation in the automobile industry.
Mobile Version