Question: What has the balance of trade in Vietnam been recently?

Characteristic Trade balance in billion U.S. dollars

What is Vietnam’s main export today?

Vietnam has emerged as an important electronics exporter, with electrical and electronic products overtaking coffee, textiles, and rice to become the country’s top export item. Samsung is Vietnam’s largest exporter and has helped the country achieve a trade surplus for the first time in many years.

What was the US balance of trade in 2019?

Net balance of payments adjustments increased $0.1 billion. Imports of services increased $0.1 billion to $50.2 billion in October. Travel increased $0.1 billion. Other business services increased $0.1 billion.

U.S. International Trade in Goods and Services, October 2019.

Deficit: $47.2 Billion -7.6%°
Imports: $254.3 Billion -1.7%°

What is the US balance of trade 2020?

Net balance of payments adjustments increased less than $0.1 billion. Imports of services increased $0.8 billion to $36.1 billion in August. Travel increased $0.3 billion.

U.S. International Trade in Goods and Services, August 2020.

Deficit: $67.1 Billion +5.9%°
Imports: $239.0 Billion +3.2%°

What is our balance of trade?

Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period. … Sometimes the balance of trade between a country’s goods and the balance of trade between its services are distinguished as two separate figures.

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What is Vietnam’s biggest industry?

Main Sectors of Industry

Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics and paper as well as tourism and telecommunications. Agriculture represented 14% of GDP and employs 36% of the total workforce in 2020 (World Bank).

What is Vietnam’s biggest import?

Top 10

  • Electrical machinery, equipment: US$96 billion (34.3% of total imports)
  • Machinery including computers: $26.9 billion (9.6%)
  • Plastics, plastic articles: $15.2 billion (5.4%)
  • Optical, technical, medical apparatus: $10 billion (3.6%)
  • Iron, steel: $9.8 billion (3.5%)
  • Mineral fuels including oil: $8.8 billion (3.1%)

What is Russia’s trade balance?

A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2019, the trade surplus of goods in Russia amounted to about 165.25 billion U.S. dollars.

Russia: Trade balance of goods from 2009 to 2019 (in billion U.S. dollars)

Characteristic Trade balance in billion U.S. dollars

What is the current trade balance with China?

China is currently the United States’ 3rd largest goods trading partner with $558.1 billion in total (two-way) goods trade during 2019. Goods exports totaled $106.4 billion; goods imports totaled $451.7 billion. The U.S. goods trade deficit with China was $345.2 billion in 2019.

Does the US have a balance of trade?

Or learn more about the Calendar API for direct access. The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products.

Reference Balance of Trade
May
Actual $-71.2B
Previous $-69.1B
Consensus $-71.4B

What 5 Nations does the US have the biggest trade deficit with?

Year-to-Date Deficits

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Rank Country Deficit
1 China -158.5
2 Mexico -52.9
3 Vietnam -42.1
4 Germany -33.5

What is America’s trade deficit?

The deficit, the gap between what America buys from abroad and what it sells to other countries, was 5.6% greater than the February gap of $70.5 billion, the Commerce Department reported Tuesday. Imports rose 6.3% to $274.5 billion while exports increased 6.6% to $200 billion.

Keep Calm and Travel