Vietnam (2024)

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

    Vietnam (2024)

    FAQs

    Is Vietnam a rich or poor country? ›

    The economy of Vietnam is a developing mixed socialist-oriented market economy. It is the 35th-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living.

    Why did the US quit Vietnam? ›

    The fall of South Vietnam

    As Nixon's personal standing crumbled under the weight of Watergate revelations, Congress moved to block any possibility of further military action in Vietnam. In the summer of 1973 Congress passed a measure prohibiting any U.S. military operations in or over Indochina after August 15.

    Is Vietnam still a communist country? ›

    Vietnam is a socialist republic with a one-party system led by the Communist Party. The CPV espouses Marxism–Leninism and Hồ Chí Minh Thought, the ideologies of the late Hồ Chí Minh. The two ideologies serve as guidance for the activities of the party and state.

    Why did America go to war with Vietnam? ›

    China had become communist in 1949 and communists were in control of North Vietnam. The USA was afraid that communism would spread to South Vietnam and then the rest of Asia. It decided to send money, supplies and military advisers to help the South Vietnamese Government.

    Is Vietnam safe for tourists? ›

    Vietnam is generally considered a safe country for travelers, but like any tourist destination, there are risks associated with theft and crime. Popular tourist areas, such as Hanoi, Ho Chi Minh City, and coastal cities, may experience issues with petty theft and pickpocketing.

    Is it safe to travel to Vietnam? ›

    US State Dept Travel Advisory

    The US Department of State currently recommends US citizens exercise normal precautions in Vietnam. Consult its website via the link below for updates to travel advisories and statements on safety, security, local laws, and special circ*mstances in this country.

    How many Americans died in Vietnam? ›

    The Vietnam Conflict Extract Data File of the Defense Casualty Analysis System (DCAS) Extract Files contains records of 58,220 U.S. military fatal casualties of the Vietnam War.

    Who ended the Vietnam War? ›

    Nixon's plan worked and in early January 1973, the Americans and North Vietnamese ironed out the last details of the settlement. All parties to the conflict, including South Vietnam, signed the final agreement in Paris on January 27. As it turned out, only America honored the cease-fire.

    Did the USA lose the Vietnam War? ›

    The United States entered Vietnam with the principal purpose of preventing a communist takeover of the region. In that respect, it failed: the two Vietnams were united under a communist banner in July 1976. Neighbouring Laos and Cambodia similarly fell to communists.

    Is Vietnam an U.S. ally? ›

    Vietnam is now considered to be a potential ally of the United States, especially in the geopolitical context of the territorial disputes in the South China Sea and in the containment of Chinese expansionism.

    Is Vietnam a good place to live? ›

    Safety: Vietnam is a safe country for expats, with low rates of violent crime and a general respect for foreigners. You can feel secure while living in Vietnam. Convenience: Navigating Vietnam is easy, and daily life is highly convenient.

    Who rules Vietnam now? ›

    The Socialist Republic of Vietnam is an authoritarian state ruled by a single party, the Communist Party of Vietnam, led by General Secretary Nguyen Phu Trong, President Nguyen Xuan Phuc, Prime Minister Pham Minh Chinh, and Chairman of the National Assembly Vuong Dinh Hue.

    Which president started the Vietnam War? ›

    Johnson. Recognizing that the South Vietnamese government and army were on the verge of collapse, Johnson sent the first U.S. combat troops into battle in early 1965. He simultaneously authorized a massive bombing campaign, codenamed Operation Rolling Thunder, that would continue unabated for years.

    Could the US have won the Vietnam War? ›

    To summarize the general consensus, the United States could have likely never won the war as it was fought. It was essentially defending South Vietnam from an invasion – while it fought an enemy that could retreat without fear of destruction.

    Did any American soldiers stay in Vietnam after the war? ›

    Since the war's end, official U.S. government investigations have consistently concluded that no military personnel remain alive in Vietnam.

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