Vietnam surpasses the UK to reach the top 7 logistics trading partners of the US

From 2004 to 2021, the UK still maintains its position in the top 7 logistics trade of the US. However, according to Census Bureau data, this share in the first 10 months of this year fell to 2.6%. Meanwhile, Vietnam increased to 2.7%, surpassing the UK, and entered the top 7 commodity trading partners of the country.

The group of countries that have led trade in logistics in the US in the past 20 years only includes countries from Europe - the US and East Asia such as Canada, Mexico, China, Japan, Germany, South Korea, and the UK. In addition to successfully surpassing the UK, Vietnam is also the first Southeast Asian representative to reach this position.

Before 2019, Vietnam had never appeared in the top 15 list of the Census Bureau. In 2021, the S-shaped strip of land successfully rose to the 10th position.

If by the end of 2022, the indexes do not change too much, Vietnam will be the first Southeast Asian country to surpass the UK and become one of the seven leading economies in the US goods trade.

Cat Lai Port, Ho Chi Minh city

The above figures also partly reflect the shopping trends that were established before the pandemic broke out. Covid only helped speed up this process and caused it to explode earlier than expected.

China's share of goods trade with the US in October reached 13.2%. While in 2017, the index peaked at 16.4%.

Due to many external conditions, and to expand the market and diversify service providers, companies in the US have been looking for more delivery service providers in other countries. As a result, the share of US trade in goods with countries such as Mexico and Vietnam has increased significantly.

According to the General Statistics Office in Hanoi, Vietnam's total exports since November have increased by 13.4% over the same period last year. Vietnam's official data also shows that the US is Vietnam's largest export market in 2022 with 101.5 billion USD, an increase of 18% over the same period last year, followed by China with nearly 53 billion USD. 

Mexico also recently announced a record export volume in September of 52 billion USD, mainly thanks to strong consumer demand from the US. According to the publication, the figures show that shipments of ships, vehicles, and computer components are leading the export boom in Mexico.