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The United States and Vietnam meet regularly on trade and investment issues, including under our 2007 Trade and Investment Framework Agreement, which provides a platform for addressing bilateral issues, monitoring Vietnam’s implementation of its WTO accession commitments, and coordinating on regional and multilateral issues. For information on upcoming U.S. meetings with Vietnam, see the Calendar of Events page.
Over the past decade, U.S. exports to Vietnam have increased over nine-fold to $10.3 billion in 2016. U.S. exports to Vietnam in 2016 were $10.2 billion, up 43 percent from 2015 and up 823 percent over the past decade. Key U.S. goods exports include electrical machinery, aluminum, aircraft, cotton and machinery. Vietnam is our 10th largest agricultural export market, with exports totaling $2.7 billion in 2016. Still, the United States maintains a goods trade deficit with Vietnam, which totaled $32 billion in 2016, our sixth largest. In 2016, Vietnam was our 16th largest goods trading partner with $52.3 billion in total two-way goods trade, while we are Vietnam’s largest trading partner behind China.
U.S. exports of services to Vietnam were an estimated $2.0 billion in 2015 (the most recent available data), an 8.4 percent increase from 2014. The stock of U.S. foreign direct investment (FDI) in Vietnam was $1.3 billion in 2015 (latest data available), and the stock of Vietnam's FDI in the United States was $1.0 billion in 2014 (latest data available).
Vietnam has bilateral and regional FTAs with many countries across the Asia Pacific, including China, Japan, Korea, Australia, New Zealand, India, Chile, and ASEAN, among others. Vietnam also is participating in the Trans-Pacific Partnership and the 16-member Regional Comprehensive Economic Partnership negotiations. It concluded an FTA with the EU in December 2015, but the agreement has not yet entered into force.