Viet Nam to become seventh largest trading partner of U.S.
VGP - Viet Nam is on track this year to surpass the UK to become the seventh largest trade partner of the U.S., according to information compiled by Bloomberg.
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The news publication pointed out that this would be the first time the UK slips from the position since 2004.
The article cited data from the US Census Bureau showing that the UK's share of the US merchandise trade slid to 2.6 percent through the first 10 months of this year while Viet Nam's rose to 2.7 percent.
If Viet Nam's lead over the UK holds for the final two months of the year, then it will be the first time that a majority of the top seven are Asian economies.
The top seven U.S. partners in goods trade have consistently been Canada, Mexico, China, Japan, Germany, the Republic of Korea and the UK, though their position within the group has shifted around.
Viet Nam didn't appear in the top-15 list until 2019, and it has climbed ever since, ending last year at No. 10. If Viet Nam's lead over the UK holds for the final two months of 2022, it will be the first time that a majority of the top seven are Asian economies, read the article.
Viet Nam's total exports from January to November were up 13.4% over the same period last year, according to Viet Nam's General Statistics Office.
The first batch of VF 8 electric vehicles manufactured by VinFast, the first Vietnamese electric vehicle (EV) producer, arrived in the US on December 20 as the vessel Silver Queen docked at the Port of Benicia in California.
VinFast, Viet Nam's first electric vehicle (EV) manufacturer, on December 14 (US time) announced the opening of four more stores in Los Angeles and Orange County of the US's California state./.
