Hanoi: Vietnam’s exports to the United States saw a decline for the second month in a row in October, impacted by ongoing US tariffs. Despite the decrease, Vietnam continues to maintain a trade surplus with the US.

According to Thai News Agency, Vietnam’s General Statistics Office released a report detailing the country’s social and economic performance for October and the first 10 months of the year. The report highlighted that exports in October amounted to US$42.05 billion, marking a 1.5 percent decrease from September. Imports for the same month were US$39.45 billion, a decrease of 1 percent from September. Over the first 10 months of the year, exports reached US$391 billion, showing a 16.2 percent increase year-on-year, while imports were at US$371.44 billion, up 18.6 percent year-on-year. This resulted in a trade surplus of US$19.56 billion.

The United States remains Vietnam’s largest export market. However, exports to the US in October fell 2.2 percent year-on-year to US$13.4 billion, after experiencing a 1.4 percent decline in September. The most significant drop was in the export of mobile phones, which decreased by 15.2 percent in October. For the first 10 months, exports to the US stood at US$126.2 billion, contributing to a US trade surplus of US$111 billion, an increase of 28.2 percent year-on-year.

Vietnam and the United States continue to engage in trade discussions following an announcement by President Donald Trump in August. The announcement revealed plans to impose a 20 percent tariff on Vietnam, reduced from the initially announced 46 percent on Liberation Day, April 2, as a measure to address the substantial trade deficit.