US-Vietnam Trade: A Rising US Trade Partner in Southeast Asia

In recent years, the trade relationship between the United States and Vietnam has been growing steadily, making Vietnam a rising trade partner in Southeast Asia. Vietnam has experienced impressive economic growth in the past decade, making it an attractive market for US businesses looking to expand their reach in Southeast Asia. According to the US import data, the total value of US imports from Vietnam reached a record high of $136.56 billion in 2024, a 19% increase from the previous year. The US exports to Vietnam accounted for $13.09 billion in 2024, an increase of 32% from the previous year, as per the US export data.

In the first quarter of 2025, the total value of US goods imports from Vietnam reached $3.18 billion, while US goods exports to Vietnam totaled $39.68 billion. The total US-Vietnam trade volume accounted for $149.65 billion in 2024, as per the US-Vietnam trade data. The US-Vietnam bilateral trade has increased from $451 million in 1995 to around $149 billion in 2024. This article explores the reasons behind this trend and the benefits it brings to both countries in the context of the US-Vietnam trade in 2024-25.

Historical Background of the US-Vietnam Bilateral Trade

The diplomatic relations between the US and Vietnam date back to the early 20th century when the US supported Vietnam's quest for independence from French colonial rule. However, it was not until the late 20th century that the two countries normalized their relations, leading to the establishment of diplomatic ties in 1995. The trade between the US and Vietnam covers a wide range of products and industries.

Vietnam is known for its textile and garment industry, which has become a major export sector for the country, as per the Vietnam customs export data. Other industries, such as electronics, agriculture, and seafood, have also witnessed significant growth in recent years. On the other hand, the United States exports a variety of goods to Vietnam, including machinery, equipment, and high-tech products. The two countries complement each other in terms of products and industries, creating a mutually beneficial trade relationship.

US-Vietnam Bilateral Trade Overview (2024)

Top 10 US Imports from Vietnam: What does the US buy from Vietnam?

The top 10 US imports from Vietnam showcase a diverse range of products that the US purchases from the Southeast Asian country. Among the sought-after goods are electronics like mobile phones and parts, textiles and garments, footwear, furniture, and agricultural products like coffee and seafood. The major goods that the US imports from Vietnam, as per the US import shipment data and data on US imports by country for 2024, include:

1. Electrical machinery and equipment (HS code 85): $45.56 billion

Electrical machinery and equipment are the most imported goods that the US imports from Vietnam, with a total value of $45.56 billion in 2024. This category includes a wide range of products such as electronic components, computers, and telecommunication equipment.

2. Nuclear reactors and machinery (HS code 84): $29.21 billion

Nuclear reactors and machinery are another significant import category from Vietnam, with a value of $29.21 billion in 2024. These products are essential for various industries, including energy production and manufacturing.

3. Furniture, bedding, and mattresses (HS code 94): $15 billion

The furniture, bedding, and mattresses category is also a major import from Vietnam, totaling $15 billion in 2024. Vietnamese furniture is known for its quality and craftsmanship, making it a popular choice for US consumers.

4. Footwear (HS code 64): $9.13 billion

Vietnamese footwear is highly sought after in the US market, with imports totaling $9.13 billion in 2024, as per the data on US footwear imports from Vietnam. The country is known for its production of high-quality shoes at affordable prices.

5. Articles of apparel, knitted (HS code 61): $8.52 billion

The apparel industry is a significant contributor to Vietnam's economy, with knitted articles of clothing totaling $8.52 billion in imports to the US in 2024. Vietnamese textiles are known for their durability, quality, and unique designs.

6. Articles of apparel, not knitted (HS code 62): $6.80 billion

Non-knitted articles of apparel are also a popular import category from Vietnam, with a value of $6.80 billion in 2024. These include items such as shirts, pants, and jackets made from various materials.

7. Plastics and articles thereof (HS code 39): $3.67 billion

Plastics and plastic articles are essential products that are imported from Vietnam to the US, with a total value of $3.67 billion in 2024. These products are used in various industries, including packaging, construction, and automotive.

8. Toys, games, and sports requisites (HS code 95): $2.97 billion

Toys, games, and sports requisites from Vietnam are popular among US consumers, with imports totaling $2.97 billion in 2024. Vietnamese toys are known for their quality and innovative designs.

9. Rubber and articles thereof (HS code 40): $1.87 billion

Rubber and rubber articles are important imports from Vietnam, with a total value of $1.87 billion in 2024. These products are used in various industries, including manufacturing, construction, and automotive.

10. Optical, medical, & surgical instruments (HS code 90): $1.61 billion

Optical, medical, and surgical instruments are essential products that are imported from Vietnam to the US, with a value of $1.61 billion in 2024. These products are crucial for the healthcare industry and are known for their quality and precision.

Major US Exports to Vietnam: What does the US Export to Vietnam?

The trade relationship between the United States and Vietnam has seen significant growth over the years, with the US exporting a variety of products to Vietnam. Some major US exports to Vietnam include machinery, electrical machinery, cotton, aircraft, and plastics. These exports not only contribute to strengthening the economic ties between the two nations but also play a crucial role in driving economic growth. The top 10 US exports to Vietnam, as per the US export shipment data and data on US exports by country for 2024, include:

1. Electrical Machinery and Equipment (HS Code 85): $4.07 Billion

Electrical machinery and equipment are one of the top exports from the United States to Vietnam. With a value of $4.07 billion in 2024, this category includes items such as computers, telecommunication equipment, and electrical parts.

2. Plastics and Articles Thereof (HS Code 39): $783.80 Million

Plastics and articles made from plastics are also in high demand in Vietnam. With a total US export value to Vietnam of $783.80 million, this category includes products like plastic packaging materials, plastic containers, and plastic furniture, as per the data on US plastic exports to Vietnam.

3. Prepared Animal Food (HS Code 23): $710.66 Million

Prepared animal food is another significant export from the US to Vietnam. With a value of $710.66 million, this category includes items like pet food, animal feed, and livestock supplements.

4. Oil Seeds and Oleaginous Fruits (HS Code 12): $689.68 Million

Oil seeds and oleaginous fruits are essential commodities for Vietnam's agricultural industry. With a value of $689.68 million, this category includes products like soybeans, sunflower seeds, and canola seeds.

5. Nuclear Reactors and Machinery (HS Code 84): $588.29 Million

Nuclear reactors and machinery are crucial for Vietnam's energy sector. With a value of $588.29 million, this category includes items like nuclear reactors, steam turbines, and machinery parts.    

6. Cotton (HS Code 52): $582 Million

Cotton is a vital raw material for Vietnam's textile and garment industry. With a value of $582 million, this category includes raw cotton, cotton yarn, and cotton fabric, as per the data on US cotton exports to Vietnam.

7. Edible Fruit and Nuts (HS Code 08): $525.60 Million

Edible fruit and nuts are popular food items in Vietnam. With a value of $525.60 million, this category includes products like apples, oranges, almonds, and pistachios.

8. Inorganic Chemicals (HS Code 28): $523.48 Million

Inorganic chemicals are essential for various industries in Vietnam. With a value of $523.48 million, this category includes chemicals like sulfuric acid, chlorine, and ammonia.

9. Aircraft, Spacecraft, and Parts (HS Code 88): $463.15 Million

Aircraft, spacecraft, and their parts are significant exports from the US to Vietnam. With a value of $463.15 million, this category includes items like airplanes, helicopters, and aircraft engines.  

10. Wood and Articles of Wood (HS Code 44): $350.69 Million

Wood and articles made from wood are essential for Vietnam's construction and furniture industries. With a value of $350.69 million, this category includes products like timber, wooden furniture, and wood pulp.

US-Vietnam Trade in the Last 10 Years: Yearly US-Vietnam Bilateral Trade Data

US-Vietnam Monthly Import-Export Shipment Data (2024)

Top US Importers Buying from Vietnam (2024)

The US Importers continue to showcase a strong preference for sourcing products from Vietnam. With its growing reputation for quality manufacturing and competitive costs, Vietnam has become a pivotal hub for US importers seeking to diversify their supply chains and maintain cost-efficiency. The top companies in the US that import goods from Vietnam, as per the US importers data & US buyers data for 2024, include: 

Top US Exporters Supplying to Vietnam (2024)

Some of the top U.S. exporters supplying to Vietnam include well-established companies in various sectors such as technology, agriculture, and manufacturing. These exporters are leveraging their expertise and resources to meet the growing demand in the Vietnamese market. The leading US companies that export goods to Vietnam, as per the US exporters data and US suppliers data, for 2024 include: 

US Tariffs on Vietnam and Their Impacts

In 2025, the US implemented new tariffs along with reciprocal tariffs of 46% on Vietnamese goods, impacting various sectors:

• Apparel: 18.8% average tariff

• Footwear: 13.6% average tariff

• Furniture: Up to 10% tariff

• Aluminum: Additional 15% tariff

These tariffs have increased costs for U.S. consumers and pressured Vietnamese exporters, particularly in the textile and manufacturing sectors.

US-Vietnam Trade Agreements and Negotiations

Since the normalization of relations, the US and Vietnam have signed several trade agreements aimed at promoting economic cooperation between the two countries. The most notable of these agreements is the US-Vietnam Bilateral Trade Agreement (BTA) signed in 2001, which marked the beginning of a new era of trade relations between the two countries.

• Bilateral Trade Agreement (BTA): Established in 2001, laying the foundation for trade relations. 

• Ongoing Negotiations: As of 2025, the U.S. and Vietnam have agreed to initiate talks for a new trade deal, aiming to address tariff concerns and strengthen economic ties.

Strategic Importance of Vietnam for the US

• Export Reliance: Vietnam’s Exports to the U.S. account for approximately 28.7% of Vietnam's GDP, highlighting the country's dependence on the American market.

• Manufacturing Hub: Vietnam has become a key player in global manufacturing, attracting companies seeking alternatives to China.

Future Prospects

Looking ahead, the future of the US-Vietnam trade relationship looks promising, with both countries committed to further enhancing their economic cooperation. The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by both countries has opened new avenues for trade and investment, signaling a deeper integration of the two economies.

Conclusion

In conclusion, the US-Vietnam trade relationship has come a long way since the normalization of diplomatic ties, with Vietnam emerging as a rising trade partner for the US in Southeast Asia. With continued efforts to address challenges and seize opportunities, both countries can further strengthen their economic cooperation for mutual benefit.

As we end this blog, we hope that you liked our insightful blog report on US-Vietnam trade 2024-25. Visit USImportdata for more market trends & search live US trade shipment data. Contact us at info@tradeimex.in to get the latest US import-export data and customized US trade database reports as per your business needs.