Market News
US trade deficit with Vietnam soars beyond $110 billion, as weak dong boosts exports - REUTERS
Summary
- Companies
- Deficit rose by nearly 18% in Jan-Nov period compared to same period in 2023
- Vietnam's dong fell sharply from late Oct to lowest levels against dollar
- Vietnam has fourth-largest surplus among all US trade partners
- Communist-run nation is major exporter to US, monitored over currency manipulation risks
HANOI, Jan 8 (Reuters) - The U.S. trade deficit with Vietnam exceeded $110 billion in the first 11 months of 2024, latest U.S. figures show, as exports from the Southeast Asian industrial hub grew amid a record fall of its currency against the dollar.
The latest reading, released on Tuesday by the U.S. statistics agency, showed a nearly 18% rise in the deficit compared with the same period the previous year. The data confirms the Communist-run country has the fourth highest commercial surplus with the United States, topped only by China, the European Union and Mexico.
