Vietnam Exports to USA Surged in Q1 2019
Vietnam was one of the fastest-growing sources of American imports from Asia last quarter, and could potentially overtake the U.K. as a bigger supplier to the U.S. Imports from Vietnam jumped 40.2% in the first three months of 2019 from a year earlier. At the same time, American imports of Chinese commodities plunged 13.9% as trade tensions between the two countries increased. Vietnam is on pace to pass Italy, France, the U.K., and India in the ranks of top 2019 exporters to the U.S. Vietnam is benefiting from businesses shifting their supply chains in response to increased American tariffs on Chinese commodities. The Vietnamese economy offers low-cost labor and an improving business climate.