Vietnam's exports to EU & US dropped to 9%
Despite the global recession period, Vietnam has recorded rapid growth in 2023. Vietnam has made its mark across the world's two most dominant markets, the United States and European Union. Vietnam's economy remained positive in the last year. As per Vietnam import export data reports, the overall trade to the United States was recorded to be $90 Billion and EU was estimated to be around $31 Billion during FY 2023. Although the EU has reduced its imports from non European countries and the United States imports dropped by 6%. This resulted in a 9% drop in Vietnam’s exports to the United States and European Union. Vietnam export data shows that the country's overall exports to the United States and EU were recorded to be $156 Billion in FY 2023. During the financial year 2023, the United States has imported around $92 Billion worth of goods from Vietnam. The export of Vietnam's iron, steel, cameras and its components saw an increase of 24% during last year. Whereas, ...