United States and Vietnam
The relationship progressed from diplomatic normalization to a comprehensive strategic partnership. Industry, trade and education connect two different political systems. Economic mechanisms and cooperation initiatives are not a defense alliance or automatically eliminate all regulatory differences.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07The strategic partnership of September 2023
The joint declaration published in the US federal register upgraded the relationship to a comprehensive strategic partnership in September 2023.
Technology and production capabilities
The partnership places science, technology and economic activity on a shared agenda.
Trade expansion observed in 2025
The USTR profile places the 2025 goods and services aggregate at 215,400 million dollars and records an increase compared with 2024.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 209,482.6 M USD | 2025 · Census |
| Goods: United States to Vietnam | 15,603.3 M USD | 2025 · Census |
| Goods: Vietnam to United States | 193,879.3 M USD | 2025 · Census |
| Services trade | 5,900 M USDUSTR est. | 2025 · USTR |
| Export share: United States to Vietnam | 0.72 % | 2025 · Census |
| Export share: Vietnam to United States | ||
| Investment stock: United States in Vietnam | 4,961 M USDBEA est. | 2025 · BEA |
| Investment stock: Vietnam in United States | 432 M USDBEA est. | 2025 · BEA |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: United States to Vietnam
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: Vietnam to United States
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Services trade
- 2025 · USTR · USTR estimate of services trade; not goods. Published total, not recalculated from rounded components.
- Export share: United States to Vietnam
- 2025 · U.S. Census Bureau · U.S. Census Bureau (other direction) · US goods exports to the partner / US goods exports to the world; same year and reporter.
- Investment stock: United States in Vietnam
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
- Investment stock: Vietnam in United States
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | United States | Vietnam |
|---|---|---|
| Nominal GDP | 30.77 trillion USD2025 · WB | 514.7 billion USD2025 · World Bank |
| GDP per capita | 90,026.52 USD2025 · WB | 5,065.99 USD2025 · World Bank |
| GDP growth | 2.16 %2025 · WB | 8.02 %2025 · World Bank |
| Policy interest rate | 3.75–4 %2026-09-16 · Fed | |
| Inflation · annual average | 2.7 %IMF est.Annual average · 2025 · IMF | 3.31 %Annual average · 2025 · World Bank |
| Inflation · latest year-on-year figure | 3.4 %Year-on-year · Aug. 2026 · BLS | |
| Unemployment | 4.2 %ILO est.2025 · WB | 1.52 %ILO est.2025 · World Bank |
| Budget balance (% of GDP) | -6.8 %IMF est.2025 · IMF | -2.2 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 123.9 %IMF est.2025 · IMF | 30.3 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -3.63 %2025 · WB | 6.33 %2024 · World Bank |
| Population | 341,784,8572025 · WB | 101,598,5272025 · World Bank |
| Area | 9,831,510 km²2023 · BM / FAO | 331,338 km²2023 · World Bank |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDUnited States: 2025 · World BankVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP per capita
- Current USD per personUnited States: 2025 · World BankVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP growth
- Annual real change (%)United States: 2025 · World BankVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Policy interest rate
- Central bank instrument (%)United States: 2026-09-16 · Federal funds target range · Federal Reserve
- Inflation · annual average
- Average annual change in headline CPI (%)United States: 2025 · Average annual change in headline CPI (%) · IMF — World Economic Outlook · IMF est. · WEO estimate; not the year-on-year change for December or August 2026. · Alternative official source; verified 2026-10-07Vietnam: 2025 · Annual average change in CPI (%) · World Bank · Official World Bank series; observation period, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedUnited States: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · U.S. Bureau of Labor Statistics · Published: 2026-09-11 · Headline year-on-year CPI-U, not seasonally adjusted; not monthly or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionUnited States: 2025 · World Bank · ILO est.Vietnam: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.
- Budget balance
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Gross public debt
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Current account balance
- % of GDPUnited States: 2025 · World BankVietnam: 2024 · World Bank · Official World Bank series; observation period, not download date.
- Population
- PeopleUnited States: 2025 · World BankVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Area
- Total area in km²; territorial coverage of the sourceUnited States: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOVietnam: 2023 · World Bank · Official World Bank series; observation period, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
United States to Vietnam
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 3,084.9 M USD2025 · Source |
| Machinery and mechanical appliances | 913.1 M USD2025 · Source |
| Mineral fuels and oils | 679.5 M USD2025 · Source |
| Pharmaceutical products | 184.8 M USD2025 · Source |
| Land vehicles and components | 75.8 M USD2025 · Source |
Vietnam to United States
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 61,922.6 M USD2025 · Source |
| Machinery and mechanical appliances | 56,669.1 M USD2025 · Source |
| Land vehicles and components | 1,439.6 M USD2025 · Source |
| Pharmaceutical products | 60.7 M USD2025 · Source |
| Mineral fuels and oils | 1.8 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | United States to Vietnam | Vietnam to United States |
|---|---|---|---|
| 2021 | 112,959.1 | 11,020.2 | 101,938.9 |
| 2022 | 138,781.4 | 11,334.6 | 127,446.8 |
| 2023 | 124,195.1 | 9,812.2 | 114,382.9 |
| 2024 | 149,385.9 | 13,068.3 | 136,317.6 |
| 2025 | 209,482.6 | 15,603.3 | 193,879.3 |
Connections between people
Studies and travel provide connections between institutions and people distinct from product trade and strategic dialogue. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from United States living in Vietnam | ||
| Residents from Vietnam living in United States | ||
| Study and training: United States in Vietnam | ||
| Study and training: Vietnam in United StatesStudy and OPT training in the United States | 25,584 | 2024/25 · IIE / Open Doors |
| Academic stays: United States in VietnamU.S. study-abroad stays carrying academic credit | 1,281 | 2023/24 · IIE / Open Doors |
| Academic stays: Vietnam in United States | ||
| Travel: United States to Vietnam | ||
| Travel: Vietnam to United StatesCountry of residence; international arrivals in the United States | 127,056arrivals | 2025 · NTTO |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Study and training: Vietnam in United States
- Open Doors: students by place of origin, including OPT practical training. Not visas or residents. 2024/25 · IIE / Open Doors
- Academic stays: United States in Vietnam
- Mobility for academic credit reported by US institutions. Not the total number of residents or enrolment on a particular date. 2023/24 · IIE / Open Doors
- Travel: Vietnam to United States
- Arrivals by country of residence; not nationality, unique travellers or permanent residence. NTTO series coverage. 2025 · NTTO
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The strategic partnership of September 2023
The joint declaration published in the US federal register upgraded the relationship to a comprehensive strategic partnership in September 2023. The instrument brings together political and economic cooperation in several areas. Its name does not imply identical foreign policies or a mutual defense obligation. The initiatives recorded in the document require their own instruments and follow-up to become results. [1]
Technology and production capabilities
The partnership places science, technology and economic activity on a shared agenda. Supply chains can connect final goods with components and capacities located across several countries. Bilateral trade therefore does not allow all added value to be attributed to two isolated economies. Institutional cooperation and customs data offer complementary perspectives, with different periods and coverage. [1]
TIFA and incorporation into multilateral rules
USTR describes the 2007 TIFA as a platform for bilateral matters, follow-up on WTO accession commitments and regional coordination. Trade dialogue addresses barriers and rules, not exclusively total exports. The table separates goods, services and direct investment. A US subsidiary's sales within Vietnam do not automatically constitute a US export to the country. [2]
The scale of the two economies
The United States recorded nominal GDP of 30,769.7 billion USD in 2025, compared with 514.7 in 2025 for Vietnam. The reference populations were 341.78 million (2025) and 101.6 million (2025), respectively. In the same year, US nominal GDP was 59.78 times Vietnam's. The figures contextualize market size; they do not in themselves describe well-being, individual wealth or political influence. IMF estimates or demographic extrapolations retain their markings in the table. A ratio is not calculated when the periods do not match. [7] [8] [9] [10]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
Trade expansion observed in 2025
The USTR profile places the 2025 goods and services aggregate at 215,400 million dollars and records an increase compared with 2024. It is an official estimate of that activity, not an assessment of the entire political relationship. The five-year customs series and academic data reveal trends and civilian connections without attributing every change to a single visit or strategic declaration. [2]
Observed economic exchange
In 2025, recorded goods trade between the United States and Vietnam totaled USD 209,482.6 million. US shipments to Vietnam were 15,603.3 million USD; those in the reverse direction were 193,879.3 million USD. US shipments to the partner represented 0.72 % of its goods exports to the world, using the same year and reporting country. A single customs declaration is used for both directions. This annual flow does not include all services activity or subsidiaries' local sales and is not added to accumulated investment capital. [3]
Cross-border services
USTR estimates 5900 million USD in services trade in 2025. It is the total published by the source, not a reconstruction from rounded components. Financial and professional services and activities involving travel have coverage different from goods. Its value does not represent a traveler count or all local business by companies established in the partner country. [4]
Recorded direct investment capital, not announced investment
The US direct investment position in Vietnam was 4961 million USD in 2025. Vietnam's direct investment position in the United States was 432 million USD in 2025. BEA uses historical cost and the immediate counterpart. The figure is capital recorded at period-end, not a purchase or promise made during the year. It may reflect subsidiary structures and financing; published negative values are not replaced with zero. It does not include all portfolio investment or allow each project to be valued individually. [5] [6]
Human connections with their own figures
In 2025, the source recorded 127,056 arrivals from Vietnam to the United States, with the coverage indicated in the table. [11]
In 2024/25, the source recorded 25,584 students and OPT internship participants from Vietnam in the United States. [12]
In 2023/24, 1281 stays for academic credit were recorded from the United States to Vietnam. [12]
The counts describe different populations and periods: they are not added as a total of unique people. Open Doors includes OPT practical training; US study stays require academic credit. Arrivals by country of residence do not equate to nationality or permanent residence. The academic year retains its coverage and is not relabelled as a calendar year. [11] [12]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Comprehensive strategic partnership declaration
Office of the Federal Register / GovInfo · Institutional source · Document: 2023-09 · Accessed: 2026-10-07
- TIFA and trade with Vietnam
USTR · Institutional source · Accessed: 2026-10-07
- TOTAL rows 2021–2025; US reporter; goods; million USD
U.S. Census Bureau · Institutional source · Accessed: 2026-10-07
- Services exports plus imports, estimate, full calendar year 2025
USTR · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Annual; country-of-residence row; AC=2025; arrivals, not unique people
NTTO · Institutional source · Accessed: 2026-10-07
- International Student Totals: 2024/25 incl OPT; US study abroad 2023/24. Not visa issuance.
IIE / Open Doors · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.