Vietnam"s exports enjoy robust growth in US market
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.
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.
Related News
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export
Request for price management and stabilization, avoiding unusual fluctuations during Tet 2025
13:56 | 30/12/2024 Headlines
Six export commodity groups see billion-dollar growth
07:55 | 31/12/2024 Import-Export
Vietnam, Korea Customs sign AEO MRA
11:07 | 26/12/2024 Customs
Latest News
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
More News
Fruit and vegetable industry aims for $10 billion in exports by 2030
15:12 | 07/01/2025 Import-Export
GDP grows by over 7 per cent, exceeds target for 2024
15:11 | 07/01/2025 Import-Export
Vietnamese pepper: decline in volume, surge in value
15:10 | 07/01/2025 Import-Export
Việt Nam maintains position as RoK’s third largest trading partner
15:09 | 07/01/2025 Import-Export
Greater efforts to be made for stronger cooperation with European-American market
15:08 | 06/01/2025 Import-Export
Leather, footwear industry aims to gain export growth of 10% in 2025
15:06 | 06/01/2025 Import-Export
Grasping the green transformation trend - A survival opportunity for Vietnamese Enterprises
14:53 | 06/01/2025 Import-Export
Việt Nam to complete database of five domestic manufacturing industries in 2026
20:57 | 05/01/2025 Import-Export
Logistics firms optimistic about growth prospects in 2025: Survey
20:54 | 05/01/2025 Import-Export
Your care
Việt Nam tightens fruit inspections after warning from China
08:01 | 15/01/2025 Import-Export
Brand building key to elevate Vietnamese fruit and vegetable sector: experts
08:00 | 15/01/2025 Import-Export
Freight transport via China-Việt Nam cross-border trains posts rapid growth
08:01 | 13/01/2025 Import-Export
Vietnamese retail industry expects bright future ahead
06:22 | 11/01/2025 Import-Export
Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export