High 10 Vietnam Imports to the U.S.

With a rising economic system and powerful manufacturing base, Vietnam is a precious commerce associate for U.S. companies in quite a lot of industries. Importing from Vietnam can enable U.S. companies to increase their product choices with high-quality items or improve their stock quantity with cost-effective merchandise to spice up their income. And with the assistance of a Vietnam freight forwarder, delivery from Vietnam to the USA will be environment friendly and simple.

Learn on for an outline of the highest imports from Vietnam and different important ideas for importing from Vietnam to the U.S.

Widespread Industries That Import to the U.S. From Vietnam

The U.S. is at present Vietnam’s second-largest export associate, accounting for 17.7% of Vietnam’s world exports in 2017, with a complete worth of $45.6 billion. China is Vietnam’s prime export associate, importing $49.1 billion in items and providers from Vietnam in 2017 and accounting for 19% of all Vietnamese exports. Vietnam’s third-largest export associate in 2017 was Japan. With a complete worth of $17.2 billion, Japanese imports from Vietnam had been lower than half the worth of U.S. imports from Vietnam.

America imports Vietnamese items and merchandise throughout a variety of industries — from agriculture to textiles to equipment. The highest U.S. imports from Vietnam are electrical equipment and gear, attire and footwear, furnishings, industrial equipment, fruits and nuts, leather-based items, fish and iron and metal.

Electrical equipment and gear is at present the highest export from Vietnam to the U.S. and can also be Vietnam’s No. 1 export worldwide. Imports of electrical equipment and gear accounted for 24% of U.S. imports from Vietnam and 37.6% of Vietnam’s world exports in 2017. Electrical gear and equipment has additionally proven probably the most speedy progress amongst Vietnam’s major exports to the U.S., growing from $2 billion in 2013 to greater than $11 billion in 2018 — a five-year improve of practically 463%.¹

Knit attire and equipment are the second-largest U.S. import from Vietnam and have solely not too long ago gotten surpassed because the No. 1 import in 2015, when imports of electrical equipment and gear practically doubled from $3.7 billion in 2014 to $8.3 billion in 2015. Knit attire has proven a gentle improve over the past 5 years, from $4.7 billion in 2013 to $7.2 billion in 2018. When mixed with exports of woven clothes, complete attire and equipment imports account for twenty-four.8% of all U.S. imports from Vietnam.¹Many fashionable U.S. trend manufacturers have manufacturing bases in Vietnam, together with Nike, Underneath Armour and Lacoste.

The footwear business in Vietnam additionally exhibits promise for progress and alternative for U.S. importers. Though China remains to be the main exporter of footwear worldwide, Vietnam has gained momentum as a world footwear producer and has attracted a number of well-known manufacturers over the previous few years. Well-liked sneaker manufacturers Adidas and Nike have begun shifting their manufacturing from China to Vietnam, with Vietnam supplying 44% of Adidas footwear by quantity in 2017 and China supplying simply 19%. U.S. footwear importers can profit from low-cost manufacturing in Vietnam.

Within the agriculture business, Vietnam exports primarily nuts, espresso, rice, fish and crustaceans. Vietnam is the main exporter of cashews worldwide, accounting for 32.7% of world cashew exports in 2017 with a worth of $2.8 billion. The U.S. was the biggest importer of cashews from Vietnam with a complete worth of $1.1 billion. The U.S. additionally imported extra fish from Vietnam than another nation, accounting for 17.1% of all Vietnamese fish exports.

Vietnam’s various economic system and the latest increase in electronics manufacturing have positioned the Southeastern Asian nation for financial progress within the coming years. The Vietnamese economic system is projected to develop by at the least 6% yearly by way of 2027, rating it as one of many fastest-growing economies on the planet. As industries in Vietnam proceed to increase, so do the commerce alternatives for U.S. importers.

High 10 Imports From Vietnam

In 2018, Vietnam was the Twelfth-largest provider of imported items to the U.S., with a complete worth of $49.2 billion. The U.S. was Vietnam’s No. 1 export associate from 2002 till 2017, when China surpassed it.

These are the highest 10 imports from Vietnam to the U.S. primarily based on the newest commerce information from the Worldwide Commerce Administration. All merchandise under fall into classes primarily based on their two- or four-digit HS Code.

1. Electrical Equipment and Gear

The U.S. imported $11 billion in electrical equipment and gear (HS Code 85) from Vietnam in 2018, accounting for 22.4% of all U.S. imports from Vietnam.¹ The highest imported merchandise had been:

• Telephones (HS Code 8517) at 58.3%
• Digital built-in circuits (HS Code 8542) at 12.5%
• Insulated wire (HS Code 8544) at 6%
• Semiconductors (HS Code 8541) at 3.6%
• Transmission apparatuses for radio, phone and tv (HS Code 8525) at 3.5%²

As Vietnam continues to diversify into extra complicated segments of the electronics sector, U.S. companies can profit from improved product high quality and reasonably priced costs for imported digital items.

2. Knit and Crochet Attire and Equipment

In 2017, 53.1% of world Vietnamese exports of knit attire and equipment had been to the USA. The U.S. stays the highest importer of Vietnamese-made knit clothes, with U.S. imports of knit and crochet attire totaling $7.2 billion in 2018 and $1.8 billion for quarter one (Q1) 2019. The preferred merchandise had been sweaters, pullovers and sweatshirts (HS Code 6110) at 32.8%, and girls’s fits and ensembles (HS Code 6104) at 23.2%.³

3. Footwear

Vietnam is the second-largest exporter of footwear (HS Code 64) worldwide and accounted for 12.9% of world footwear exports and 21.3% of U.S. imported footwear in 2017. In 2018, the U.S. imported $6.2 billion in footwear, with 46.6% being textile footwear (HS Code 6404) and 33.7% being leather-based footwear (HS Code 6403).⁴

Footwear firms that import from Vietnam can get pleasure from low manufacturing and labor prices to extend their revenue margins.

4. Furnishings

Furnishings (HS Code 94) imports accounted for 10.3% of complete U.S. imports from Vietnam in 2018, with a worth of $5.1 billion. In Q1 2019, the U.S. imported $1.5 billion in furnishings.¹ U.S. furnishings firms sometimes ship design specs to Vietnamese furnishings producers who then construct and export the products. Indoor picket furnishings is a well-liked import from Vietnam and is reasonably priced and well-made.

5. Woven Attire and Equipment

U.S. imports from Vietnam of attire and equipment that aren’t knit and never crochet (HS Code 62) totaled $5 billion in 2018 and $1.4 billion for Q1 2019. Girls’s and males’s fits had been the highest imported merchandise, accounting for 27.8% and 18.1% of all woven attire imports, respectively.⁵

6. Industrial Equipment

Industrial equipment accounted for five.7% of all U.S. imports from Vietnam in 2018 with a complete worth of $2.8 billion. Imported equipment from Vietnam included a variety of merchandise for each house and manufacturing unit use. The highest U.S. imports of business equipment from Vietnam had been:

• Printers and copiers (HS Code 8443) at 36.9%
• Computer systems (HS Code 8471) at 30%
• Washing machines (HS Code 8450) at 9.6%
• Home equipment for thermostatically managed valves (HS Code 8481) at 5.7%
• Stitching machines (HS Code 8452) at 4.1%⁶

As with electrical equipment and gear, Vietnam is continuous to provide and export extra complicated and diversified industrial equipment.

7. Edible Fruit and Nuts

Fruit and nut (HS Code 08) imports from Vietnam totaled $1.3 billion in 2018 and $201.7 billion for Q1 2019. Cashews, coconuts and Brazil nuts made up an awesome majority, accounting for 96.5% of U.S. imports of fruit and nuts from Vietnam with a worth of $1.2 billion. Recent fruit adopted at $20 million, and frozen fruit and nuts at $19.6 million.⁷

8. Articles of Leather-based

In 2018, the U.S. imported $1.1 billion in leather-based articles (HS Code 42) from Vietnam, with the highest import being leather-based vehicles and instances (HS Code 4202) at 92.8%. These things embrace purses, wallets, leather-based instances for jewellery, suitcases, briefcases and extra. The second hottest leather-based import was leather-based attire (HS Code 4203), together with leather-based gloves and belts.⁸ Vietnam produces custom-made leather-based items which can be fashionable amongst U.S. customers for his or her trendy designs and high-quality building.

9. Fish and Crustaceans

With 2,140 miles of shoreline alongside the South China Sea and the Gulf of Thailand, Vietnam boasts a thriving fishing business. U.S. fish and crustacean (HS Code 03) imports from Vietnam totaled $1 billion in 2018, with 68.8% being fish fillets and 25.8% being crustaceans.⁹ Shrimp had been probably the most generally imported crustaceans, adopted by crab.

10. Iron and Metal

Iron and metal (HS Code 72) imports from Vietnam to the U.S. totaled $722.6 million in 2018 and $134.9 million for Q1 2019. The highest two imports had been clad flat-rolled iron and nonalloy metal (HS Code 7210) at 59.3% and never clad flat-rolled iron and nonalloy metal (HS Code 7209) at 24%.¹⁰ By importing assets like iron and metal, U.S. producers can improve their manufacturing capability and increase their income.

Air or Ocean Freight From Vietnam: What to Think about

Importing from Vietnam permits U.S. companies to profit from decrease manufacturing prices for a variety of high-quality merchandise. Nonetheless, to benefit from commerce alternatives with Vietnam, U.S. importers should additionally decide probably the most environment friendly and cost-effective methodology for delivery their items from Vietnam to the U.S.

In 2018, imported and exported items shipped by ocean freight between Vietnam and the U.S. accounted for 99.1% of all traded merchandise by tonnage. Air freight accounted for just below 0.9% of U.S. traded items with Vietnam by tonnage. By worth, ocean freight accounted for 77% and air freight accounted for 22% of all traded items.

The first cause many U.S. companies select ocean freight for buying and selling with Vietnam is probably going the decrease delivery prices. Ocean freight delivery to Vietnam is often cheaper than air freight, particularly for bigger and heavier shipments.

Nonetheless, delivery from Vietnam to the U.S. by ocean freight takes considerably longer than delivery items by way of air freight. Whereas delivery items by air might take just a few weeks, delivery by way of ocean freight might take a number of months. For imported or exported merchandise the place expedient delivery is critical, air freight would be the more sensible choice. Air freight can also be an reasonably priced possibility for light-weight merchandise and smaller shipments.

High Buying and selling Port for Vietnam Shipments

After selecting ocean or air freight for enterprise delivery with Vietnam, U.S. importers and exporters should then choose the correct U.S. buying and selling port relying on their enterprise location and kind of products they’re buying and selling. Transport instances and prices may even range primarily based on the chosen buying and selling port.

The Port of Los Angeles is at present the highest buying and selling port for all freight delivery to and from Vietnam. In 2018, $19.4 billion in Vietnamese traded items moved by way of the Port of Los Angeles, accounting for 33% of U.S. items exchanged with Vietnam by worth and 23% by tonnage. In Q1 2019, the Port of Los Angeles processed $5.3 billion in Vietnamese imports and exports by way of ocean freight.

The second largest U.S. port for delivery to and from Vietnam is the Port of Lengthy Seaside, which accounted for 7.2% of Vietnamese traded items by worth and 9.2% by tonnage. Collectively, the Port of Los Angeles and Port of Lengthy Seaside accounted for greater than 50% of all ocean freight traded with Vietnam by worth.

Of all U.S. air freight shipments with Vietnam in 2018, Los Angeles Worldwide Airport processed 21% of all traded items by tonnage. Chicago O’Hare Worldwide Airport was the second-largest port for Vietnamese air freight by tonnage, accounting for 20% of all traded items. By worth, Chicago O’Hare Worldwide Airport accounted for 27% of all Vietnamese traded items at a worth of $3.5 billion.

Utilizing a Freight Forwarder for Vietnam Imports and Exports

When importing or exporting from Vietnam to the U.S., firms can work with a freight associate to assist them decide the best choice for enterprise delivery to Vietnam. A trusted freight forwarder, like Common Cargo, will know the very best commerce routes and most dependable carriers to maneuver your cargo throughout the globe as shortly and affordably as potential. They’ll additionally handle the logistics of choosing the proper air or ocean port and arranging cost-effective floor transportation to your facility.

Freight forwarders additionally sustain the most recent commerce restrictions and laws to maintain your freight and your online business in compliance with native legal guidelines each within the U.S. and within the nation you’re buying and selling with. Whereas commerce between the U.S. and Vietnam faces few hurdles, U.S. importers may have to accumulate licenses and permits when buying and selling sure merchandise, resembling edible items like nuts and fish and picket merchandise like furnishings. U.S. exporters can also face some commerce obstacles with Vietnam, resembling inefficiency and purple tape in customs clearance processes.

Your Vietnam freight forwarder will keep on prime of commerce documentation and licensing so that you don’t must. They are going to even talk with customs officers in your behalf to maneuver your freight by way of customs easily. While you work with a trusted freight associate, Vietnam-to-United States delivery turns into streamlined and simplified.

Select Common Cargo for Vietnam-to-United States Freight Forwarding

Common Cargo is a trusted freight forwarding firm that’s conveniently headquartered in Los Angeles to handle all of your Vietnam-to-United States delivery. With illustration in all main U.S. and worldwide ports, Common Cargo can present protected, reasonably priced and environment friendly worldwide delivery for all your Vietnamese imports and exports.

As a full-service freight forwarder, Common Cargo provides each ocean freight and air freight, in addition to specific air freight for even sooner delivery to the U.S. from Vietnam — or from wherever else on the planet. Our different freight forwarding providers embrace warehousing, cargo insurance coverage, trucking supply providers and extra. If your online business wants quick and cost-effective freight delivery from Vietnam to the U.S., select Common Cargo as your freight forwarding associate. Contact us to study extra about importing from Vietnam with Common Cargo.

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