From foes to business partners: two decades of Vietnam - U.S. relations

By Ha Phuong   May 18, 2016 | 08:07 pm PT
Since 1995, when the embargo was abolished, Vietnam and the United States of America have grown to become important trade partners. The U.S. is now Vietnam's second biggest export partner and the number one destination for Vietnamese overseas students.

Vietnam's exports to the U.S. have risen steadily since the U.S. lifted the embargo in 1995. From 2012, the U.S. has become one of the top destinations of Vietnam's exports, according to Vietnam Customs. Last year Vietnam recorded a trade surplus of  $25.7 billion with total export turn-over of $41.3 billion. 

Source: Vietnam Customs 

The U.S. is among the biggest investors in Vietnam. Following the financial crisis, investment from the U.S. to Vietnam dropped dramatically with little recovery since.    

Source: General Statistics Office

In addition, the U.S. is the 6th biggest ODA donor in Vietnam.

Source: OECD data, 2015

Source: OECD data, 2015

Vietnam and the U.S. have also seen upward trends in tourism and education. Since 2007, Vietnam has welcomed over 400,000 Americans each year. 

Source: Vietnam National Administration of Tourism

In the field of education the number of Vietnamese students choosing the U.S. as the destination for higher education has risen consistently since 2006. 

Source: Institute of International Education Report, 2015

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