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. The latest information regarding significant trade barriers can be found in the 2021 National Trade Estimate Report, see here.
Vietnam Trade & Investment Summary
U.S. goods and services trade with Vietnam totaled an estimated $142.1 billion in 2022. Exports were $13.8 billion; imports were $128.4 billion. The U.S. goods and services trade deficit with Vietnam was $114.6 billion in 2022.
U.S. goods exports to Vietnam in 2022 were $11.4 billion, up 3.0 percent ($336 million) from 2021 and up 146 percent from 2012. U.S. goods imports from Vietnam totaled $127.5 billion in 2022, up 25.1 percent ($25.6 billion) from 2021, and up 529 percent from 2012. The U.S. goods trade deficit with Vietnam was $116.1 billion in 2022, a 27.8 percent increase ($25.2 billion) over 2021.
U.S. exports of services to Vietnam were an estimated $2.4 billion in 2022, 26.1 percent ($502 million) more than 2021, and 48 percent greater than 2012 levels. U.S. imports of services from Vietnam were an estimated $874 million in 2022, 88.0 percent ($409 million) more than 2021, and 25 percent greater than 2012 levels. Leading services exports from the U.S. to Vietnam were in the travel, transportation, and financial services sectors. The United States had a services trade surplus of an estimated $1.6 billion with Vietnam in 2022, up 6.4 percent from 2021.
U.S. foreign direct investment (FDI) in Vietnam (stock) was $3.5 billion in 2022, a 26.8 percent increase from 2021