Vietnam’s trade surplus with the United States expanded significantly in May, according to the latest customs data.
Notably, the growing US–Vietnam trade surplus does not bode well for the intensified scrutiny from Washington amid ongoing concerns over bilateral trade imbalances.
Key details
- Exports to US (May): US$13.76 billion, up 14.43 percent from April
- Imports from US (May): US$1.60 billion, up 1.86 percent from April
- Monthly trade surplus (May): US$12.16 billion, up 16.32 percent from April
- Year-to-date surplus: US$49.90 billion
- YTD total exports to US: US$57.16 billion
- YTD total imports from US: US$7.26 billion
Key exports to the USA, US$ million
| April | March | MoM | YTD | % YTD | |
| Total | 13,758.51 | 12,023.47 | 14.43% | 57,160.23 | 100% |
| Other | 1,633.33 | 1,417.07 | 15.26% | 6,639.98 | 12% |
| Computers, electrical products, spare-parts and | 3,846.47 | 3,244.28 | 18.56% | 14,559.51 | 25.47% |
| Machine, equipment, tools and instruments | 2,108.71 | 1,908.90 | 0.00% | 9,265.88 | 16.21% |
| Textiles and garments | 1,569.24 | 1,370.95 | 14.46% | 6,725.75 | 11.77% |
| Telephones, mobile phones and parts thereof | 963.81 | 697.75 | 38.13% | 4,404.60 | 7.71% |
| Wood and wooden products | 852.01 | 798.93 | 6.64% | 3,784.93 | 6.62% |
| Other products | 849.57 | 771.20 | 10.16% | 3,699.50 | 6.47% |
| Footwear | 766.63 | 845.98 | -9.38% | 3,585.51 | 6.27% |
| Toys and sports requisites; parts and accessories thereof | 499.34 | 369.93 | 34.98% | 1,656.75 | 2.90% |
| Plastic products | 348.51 | 293.12 | 18.90% | 1,461.69 | 2.56% |
| Other means of transportation, parts and | 320.89 | 305.36 | 5.09% | 1,376.12 | 2.41% |
Key imports from the USA, US$ millions
| April | March | MoM | YTD | % YTD | |
| Total | 1,597.12 | 1,567.97 | 1.86% | 7,264.46 | 100% |
| Other | 376.66 | 319.26 | 17.98% | 1,480.16 | 20% |
| Computers, electrical products, spare-parts and | 436.84 | 460.22 | -5.08% | 2,257.22 | 31.07% |
| Other products | 170.01 | 216.19 | 0.00% | 839.67 | 11.56% |
| Cotton | 177.01 | 169.37 | 4.51% | 621.89 | 8.56% |
| Plastics | 96.31 | 100.05 | -3.74% | 442.57 | 6.09% |
| Machine, equipment, tools and instruments | 87.42 | 101.50 | -13.87% | 428.43 | 5.90% |
| Animal fodders and animal fodder materials | 96.70 | 58.52 | 65.24% | 323.29 | 4.45% |
| Fruits and vegetables | 44.41 | 42.76 | 3.86% | 247.37 | 3.41% |
| Other means of transportation, parts and | 42.59 | 52.57 | -19.00% | 221.74 | 3.05% |
| Soya beans | 19.08 | 22.51 | -15.27% | 205.97 | 2.84% |
| Chemicals | 50.09 | 25.01 | 100.32% | 196.15 | 2.70% |
See also: Vietnam Trade: Exports, Imports & FTAs