Total US-Vietnam Import and Export Value Compared to Some of Vietnam's Leading Trading Partners in 2008.

Vietnam was able to take a new step forward on the path to full normalization of economic relations between the two countries. Also in the year, President Nguyen Minh Triet paid an official visit to the United States, an event that promoted the development of bilateral economic and trade relations.

US-Vietnam trade exchange in 2008: In 2008, the world market imported goods from Vietnam with a value of 62,685.130 million USD, the US market alone reached 11,868.509 million USD, the US imported goods from Vietnam with a value that continued to increase. In this year, textiles continued to increase in value compared to the previous year and reached 5,105.470 million USD, items such as wood and wood products, footwear continued to increase and reached over 1 billion USD [ 189 ].

On the other hand, the total export value of goods from countries around the world to the Vietnamese market is 80,713.829 million USD [ 189 ], of which, the United States exported to Vietnam in 2016 reaching 2,635.300 million USD, the export turnover of the United States to Vietnam continued to increase sharply, but the United States continued to have a trade deficit compared to Vietnam (11,868.509 million USD/2,635.300 million USD). Thus, the total value of two-way trade exchange reached 14 billion 503.809 million USD. (see table 10)

Table 10. Total US-Vietnam import and export turnover compared with some of Vietnam's leading trading partners in 2008 .

Unit: 1000 USD

2008

USA	Tr. Quoc	EU	N. Version	ASEAN	World
Total KNTM	14.503809	20.187796	16.298166	16.778700	29.765681	143.398959
N.export	11.868509	4.535670	10.853004	8.537938	10.194815	62.685130
X.port	2.635300	15.652126	5.445162	8.240662	19.570866	80.713829
Balance	-9233290	+11.116456	-5.407842	-297276	+9.376051	+18.028699

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Source: General Statistics Office of Vietnam [189]

Although the US economy is in recession, the results of trade exchange in 2008 show that the ability to increase Vietnam's export of goods to this market is still very large. Therefore, Vietnamese goods exported to the US market need to have a new strategy, must aim for direct export. That means businesses

Vietnam must establish a representative office in the United States to update information and plans, creating trust with American customers, especially information about US import quotas, as well as the types of imported goods each year from this country.

In 2008, along with the achievements in trade, the bilateral relationship between the United States and Vietnam continued to be strengthened through the visit of Prime Minister Nguyen Tan Dung to the United States (June 2008). During this visit, the two sides issued a Joint Statement between the United States of America and the Socialist Republic of Vietnam. In the field of trade, Vietnam entered the Top 30 largest exporters to the United States.

US-Vietnam trade exchange in 2009: In 2009, the world imported from Vietnam with a value of 57,096.274 million USD, of which the US market alone reached 11,355.757 million USD. Due to the impact of the financial crisis, US imports from Vietnam decreased but not significantly. In this year, textiles decreased slightly and reached 4,994.916 million USD, while wood and wood products increased slightly, reaching 1,100.174 million USD [ 189 ].

Regarding the situation of US goods exports to Vietnam, it is shown through the following figures: the total value of goods exports from countries around the world to Vietnam is 69,948.810 million USD, of which, the US exports to Vietnam reached 3,009.392 million USD [ 189 ]. Despite the impact of the economic recession, US exports to Vietnam still increased sharply, the US continued to have a trade deficit with Vietnam (11,355.757 million USD/3,009.392 million USD), this figure compared to China is 4,909.525 million USD/16,440.952 million USD. Thus, the total value of two-way trade exchange reached 14 billion 365.149 million USD.

Table 11. Total US-Vietnam import and export turnover compared with some of Vietnam's leading trading partners in 2009 .

Unit: 1000 USD

2009

USA	Tr. Quoc	EU	N. Version	ASEAN	World
Total KNTM	14.365149	21.350477	15.846386	13.759902	22.404937	127.045084
N.export	11.355757	4.909525	9.378294	6.291810	8.591867	57.096274
X.port	3.009392	16.440952	6.417515	7.468092	13.813070	69.948810
Balance	- 8346365	+11.531427	-9.296779	+1.176282	+5.221203	+12.852536

Source: General Statistics Office of Vietnam [189]

It can be seen that since BTA, especially after Vietnam enjoyed the PNTR status of the United States and joined the WTO, the United States began to have a trade deficit with Vietnam, which is an advantage for Vietnam to develop production towards export. However, in economic relations with China, Vietnam always has a trade deficit. This year, the Vietnam Chamber of Commerce and Industry (VCCI) chaired a discussion on US trade policy under President B. Obama, focusing on the implementation of export enterprises, issues of responding to the global economic recession... In 2009, the United States is also making changes in importing goods, especially seafood, wooden furniture, consumer goods, focusing on the issue of tightening food safety of goods from Vietnam.

2009 was the first year of President B. Obama's term. During the visit to the United States by Vietnamese Deputy Prime Minister and Foreign Minister Pham Gia Khiem and working session with US Secretary of State H. Clinton (October 2, 2009), the new Obama administration pledged to expand relations with Vietnam.

US-Vietnam trade exchange in 2010: In 2010, the world imported from Vietnam with a value of 72,191.879 million USD, the US market alone reached 14,238.132 million USD. US imports from Vietnam increased sharply, as the US economy began to show signs of recovery from the crisis. Textiles and garments entering the US market increased the most, reaching 6,117.915 million USD, wood and footwear groups also increased sharply, the corresponding figures were 1,392.557 million USD and 1,407.390 million USD [ 189 ].

In the opposite direction, the total value of goods exported from countries around the world to Vietnam was 84,801.199 million USD, of which the United States exported to Vietnam 3,766.911 million USD [ 189 ], the export figure of the United States to Vietnam continued to increase, as the US economy showed signs of recovery. This year, the United States continued to have a trade deficit compared to Vietnam (14,238.132 million USD/3,766.911 million USD). Meanwhile, Vietnam continued to have a trade deficit with China, this figure was 7,308.800 million USD/20,018.827 million USD. Thus, the total value of two-way trade reached 18 billion 005.043 million USD. (see table 12)

Table 12. Total US-Vietnam import and export turnover compared with some of Vietnam's leading trading partners in 2010 .

Unit: 1000 USD

2010

USA	Tr. Quoc	EU	N. Version	ASEAN	World
Total KNTM	18.005043	27.327627	17.746892	16.743745	26.758468	156.993078
N.export	14.238132	7.308800	11.385178	7.727660	10.350948	72.191879
X.port	3.766911	20.018827	6.361714	9.016085	16.407520	84.801199
Balance	-10.471221	+12.710027	-5.023464	+1.288425	+6.056572	+12.609320

Source: General Statistics Office of Vietnam [ 189 ]

2010 is the year the United States and Vietnam celebrate 15 years of normalization of diplomatic relations and 10 years of BTA implementation. Speaking at a conference in Washington, Secretary of State H. Clinton affirmed: “ Vietnam and the United States have courageously overcome the past to achieve spectacular progress ” [ 75 ].

US-Vietnam trade exchange in 2011: In 2011, the world imported from Vietnam with a value of 96,905.674 million USD, the US market alone reached 16,927.763 million USD [ 189 ]. Thus, US imports from Vietnam increased sharply this year. Key items such as textiles, wooden furniture, and leather shoes all increased, most notably the seafood group reached over 1 billion USD.

Regarding US exports to Vietnam, the total value of goods exported from countries around the world to Vietnam is 106,749.854 million USD, of which, US exports to Vietnam in 2011 reached 4,529.215 million USD, [ 189 ]. US exports to Vietnam in 2011 continued to increase, but the US still always imports

super from Vietnam (16,927.763 million USD/4,529.215 million USD). This figure compared to Vietnam - China trade exchange of 11,125.034 million USD/24,593.714 million USD. Thus, the total value of two-way trade exchange reached 21 billion 456.978 million USD. (see table 13)

Table 13. Total US-Vietnam import and export turnover compared with some of Vietnam's leading trading partners in 2011 .

Unit: 1000 USD

2011

USA	Tr. Quoc	EU	N. Version	ASEAN	World
Total KNTM	21.456978	35.718753	24.292344	21.181475	34.492448	203.655528
N.export	16.927763	11.125034	16.545277	10.781145	13.582279	96.905674
X.port	4.529215	24.593719	7.747067	10.400330	20.910169	106.749854
Balance	-12.398548	+13.468685	-8.798210	- 380815	+7.327890	+9844180

Source: General Statistics Office of Vietnam [ 189 ]

This year, there were 11 groups of goods worth over 100 million USD with a total value of 3,019 million USD, accounting for 71.2% of the total value of goods exported from this country to Vietnam. Leading in terms of export turnover were the groups of goods of machinery, equipment and spare parts, with a value of 848 million USD but only increased by 4.1% over the same period last year. Next was the group of cotton of all kinds with 523 million USD, 2 times higher than the previous year, computers, electronic products and components with 397 million USD. Meanwhile, the export value of the group of goods of animal feed and raw materials, scrap iron and steel decreased with the corresponding turnover of 249 million USD and 212 million USD [ 186 ].

US - Vietnam trade exchange in 2012: In this year, the total value of US - Vietnam trade exchange reached 24 billion 495.198 million USD. The world market imported from Vietnam with a value of 114,572.740 million USD, the US market alone reached 19,667.940 million USD [ 189 ]. US imports from Vietnam increased sharply in 2012 (increased by more than 3 billion USD). The main import groups all increased, in which computers and components increased sharply and reached nearly 1 billion USD, this is a good sign for Vietnam's production in general and the export sector in particular in 2012.

In the opposite direction, the total value of goods exported to Vietnam from countries around the world is 113,792,411 million USD, of which, the United States exported to Vietnam in 2016.

4,827.258 million USD [ 189 ]. US goods exports to Vietnam in 2012 continued to increase and the country continued to have a trade deficit with Vietnam (19,667.940 million USD/4,827.258 million USD). This figure compared to Vietnam - China trade relations of 12,388.227 million USD/28,785.858 million USD. (see table 14)

Table 14. Total US-Vietnam import and export turnover compared with some of Vietnam's leading trading partners in 2012 .

Unit: 1000 USD

2012

USA	Tr. Quoc	EU	N. Version	ASEAN	World
Total KNTM	24.495198	41.174085	29.094159	24.662609	38.070443	228.365151
N.export	19.667940	12.388227	20.302820	13.059811	17.312112	114.572740
X.port	4.827258	28.785858	8.791339	11.602798	20.758331	113.792411
Balance	-14.840682	+16.397631	-11.511481	-1.457013	+3.446219	-780329

Source: General Statistics Office of Vietnam [ 189 ]

In the first 7 months of 2012, the US import turnover from Vietnam reached 11 billion 13 million USD (compared to the whole year of 19 billion 668 million USD), an increase of 19.4% over the same period in 2011. With this result, the US is still the largest import market of Vietnamese goods.

In general, the structure of imported goods from Vietnam by the United States in the first 7 months of 2012 did not change significantly, with the leading group still being industrial and processed goods, followed by agricultural, forestry and fishery products and finally minerals and energy. In the industrial and processed goods group, with an import turnover of 4 billion 215.6 million USD, accounting for 37.8% of the total import turnover of the United States from Vietnam, textiles and garments continued to be the most imported item, up 37% over the same period [ 188 ]. The above structure of imported goods from Vietnam by the United States reflects the remarkable progress of Vietnam's manufacturing sector over 12 years of implementing the BTA.

b. Assessing the impact of BTA, PNTR and Vietnam's accession to the WTO on trade relations (2007 - 2012)

It can be said that the positive impact of Vietnam's accession to the WTO and the United States granting Vietnam PNTR status on US-Vietnam trade relations during this period

This is a very large segment because the United States is a founding member and a key economy that governs the WTO, and the WTO's trade laws are also basically consistent with US trade laws. On the other hand, many preferential regulations on imported goods into the United States are only applied to trading partners that are members of the WTO.

During this period, in addition to the positive impact of the BTA, Vietnam continued to enjoy the PNTR status and signed the TIFA Agreement. The biggest impact of joining the WTO was to open the world market for Vietnam's exports, while the US market for importing goods from Vietnam continued to expand. Therefore, starting from 2007, the value of import and export turnover between the US and Vietnam increased sharply, and the structure of goods was expanded. The main goods imported from Vietnam in the world market in general and the US market in the period 2007-2012 were: rice, coffee, cashew nuts, rubber, crude oil, coal, seafood, textiles, footwear of all kinds, peanuts, tea, pepper, vegetables, rattan and bamboo products, sedge carpets, computers, electronic products and components, wood and wood products, cinnamon, animal and vegetable oils and fats, plastic products, handbags, hats, suitcases, umbrellas; ceramic products, precious stone and precious metal products, tin, electric wires and cables, bicycles and spare parts, children's toys... (see table 9). During this period, due to the impact of the economic recession and economic and financial crisis in the United States along with the quota policy, Vietnam's textile and garment exports to the United States in 2007-2009 increased but not significantly compared to the previous period.

The total value of two-way trade during this period (2007 - 2012) reached 104 billion 826.177 million USD, of which the import value of the United States was 84 billion 147.229 million USD and the export was 20 billion 678.948 million USD.

Table 15: Value and structure of US imported goods from Vietnam (some main goods of the period: 2007 - 2012 )

Unit: 1000 USD

Year

2007	2008	2009	2010	2011	2012
HK's total import from Vietnam	10089128	11868509	11355757	14238132	16927763	19667940
Seafood	728523	738888	711149	955930	1159268	1166915
Textile	4465193	5105740	4994916	6117915	6883607	7458252
Rubber	39120	43337	28521	63326	89552	62720
Wood and wood products	948473	1063990	1100184	1392557	1435099	1785640

Shoes

885147	1075130	1038826	1407310	1907600	2243034
M. Computer & Components	273383	304871	433219	593879	555699	935417
Coffee	212666	210770	196674	250132	341093	459616
Cashew	227851	267718	255224	372368	397659	406518

Source: General Statistics Office , from 2007 to 2012.[ 189 ] (see Appendix 1 )

The main commodities exported to Vietnam from countries in the world in general and the United States in particular in the period 2007-2012 are: milk and dairy products; wheat; wheat flour; animal and vegetable oils and fats; sugar; animal feed and raw materials; tobacco raw materials; clinker; gasoline of all kinds; chemicals; pharmaceutical raw materials; modern medicine; fertilizers of all kinds; pesticides and raw materials; plastic raw materials; rubber; wood and wood products; pulp; paper of all kinds, cotton of all kinds; fibers of all kinds; fabrics of all kinds; textile, garment, and footwear raw materials; construction glass, iron and steel of all kinds; computers, electronic products and components; machinery, equipment, tools and spare parts; complete automobiles of all kinds; automobile components and spare parts; motorbikes... (see table 10)

Table 16: Value and structure of US export goods to Vietnam (some main goods of the period: 2007 - 2012 )

Unit: 1000 USD

Year

2007	2008	2009	2010	2011	2012
Total HK export turnover to Vietnam	1699676	2635288	3009392	3766911	4529215	4827258
NL plastic	124729	157130	146866	141358	200794	185646
Mobile and telecommunications components	96576	129627	89178	194453	397379	985425
Machinery, equipment and spare parts	330620	423926	716235	814952	851169	745185
Textile and leather raw materials	119644	132955	76719	158818	183281	137429
Complete car	142059	255371	269890	95964	75196	56303
Fertilizers of all kinds	4769	2836	62033	9515	5760	5815
Iron and steel of all kinds	30849	65686	55498	27153	34395	10117
Western medicine	6201	15937	38583	45576	55095	68877

Source: General Statistics Office , from 2007 to 2012 [ 189 ] ( see Appendix 1 )

With the positive effects from the factor of Vietnam becoming a member of the WTO and the event of the United States and Vietnam signing the TIFA Agreement (2007), the export of goods

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