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Vietnam exported goods worth US$8.21 billion to the Americas in January and spent US$1.64 billion on imports from this market. (Photo: VNA) |
The United States remains Vietnam’s leading trade partner in the region with Vietnam’s exports and imports to the market reaching US$7.2 billion and US$860 billion, respectively. It was followed by Canada with about US$360 million and US$45 million, respectively.
Trade between Vietnam and the Americas totaled US$153.9 billion in 2022, up 10.7 percent compared to 2021, the MoIT said.
Of which, Vietnam’s exports to the market were valued at US$128.2 billion, an increase of 12.4 percent year-on-year while imports were worth US$25.7 billion, up 3 percent.
Notably, trade with all major markets in the region recorded stable export growth, with an 11 percent increase in trade with the US, 6.6 percent with Brazil, 16.5 percent with Canada, 7.1 percent with Mexico, 9 percent with Chile, and 8.3 percent with Argentina.
Thanks to free trade agreements (FTAs), such as the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-Chile Free Trade Agreement (VCFTA), Vietnam’s exports to four CPTPP member countries in the region, namely Canada, Mexico, Chile and Peru, went up 8.7 percent compared to 2021 to hit US$13.1 billion in 2022.
Strong growth was also recorded in the MERCOSUR bloc, known as the Common Market of the South, which includes Brazil, Argentina, Uruguay and Paraguay, with the two-way trade surging by 9.2 percent to more than US412 billion last year.
