VINACHEM

Experts predict that Việt Nam’s key export industries, including textiles, wooden furniture, electronic machinery and agricultural products, will continue to see positive growth in the US market throughout 2025.

According to data from the General Statistics Office under the Ministry of Finance, Việt Nam’s exports to the United States reached US$19.6 billion in the first two months of 2025, marking a 16.5 per cent decline compared to the same period last year. Meanwhile, imports from the US increased by 17.4 per cent year-on-year, reaching $2.6 billion.

Experts predict that Việt Nam’s key export industries, including textiles, wooden furniture, electronic machinery and agricultural products, will continue to see positive growth in the US market throughout 2025.

For the textile and garment sector, the US accounts for 40 per cent of Việt Nam’s total textile exports. This year the industry aims to achieve $25 billion in exports to the US, driven by rising demand for high-quality and environmentally friendly products.

Similarly, exports of Vietnamese wooden furniture and handicrafts are expected to grow significantly, with export turnover projected to reach approximately $10 billion in 2025, a 20 per cent increase from 2024. The continued trend towards sustainable and recycled furniture in the US is seen as a key driver for this expansion.

Additionally, high-tech products, including electronic components and telecommunications equipment, are anticipated to contribute significantly to export growth, with values projected to rise by 15-18 per cent, supported by the expansion of major corporations like Samsung, Intel and LG.

At a recent Government press conference, Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân highlighted that Việt Nam is a crucial trade partner of the US. He noted that Vietnamese exports primarily compete with third-country suppliers rather than directly with US businesses, allowing American consumers to benefit from affordable, high-quality Vietnamese products.

Việt Nam and the US have already established a policy dialogue mechanism under the Việt Nam – US Trade and Investment Framework Agreement (TIFA). This ensures that any trade issues arising between the two nations can be proactively addressed through discussions within the Việt Nam – US Trade and Investment Council.

Additionally, the Vietnamese Government has tasked relevant ministries and agencies with reviewing existing trade barriers and formulating solutions to address US concerns. This approach aligns with principles of fair trade, reciprocity and compliance with regulations, ensuring that the interests of both nations are balanced and mutually beneficial. — Source:VNS