Trade turnover between Vietnam and the US was estimated at $11 billion in January, according to the General Statistics Office of Vietnam.

Vietnam’s export to the US reached $9.8 billion, while import was valued at $1.3 billion. This resulted in a trade surplus of $8.5 billion, down 3.5% year-on-year.

Trade experts said the US is a pivotal market for Vietnamese businesses seeking to expand their international market share.

High-tech products, garments and textiles and footwear accounted for around 50% of Vietnam’s export value to the US.

Meanwhile, Vietnam has been attracting significant high-tech investment from the US, especially in microchips and semiconductors.

Last year,  their two-way trade exceeded $132 billion, with Vietnam’s export to the US worth nearly $119 billion, marking a 23.3% year-on-year.