Trade Between Continents

Asia and Europe are now leading trade partners as of 2019, with $1.5 trillion of annual merchandise trade (A.N. et al) U.S. goods and services trade with the EU 27 totaled an estimated $1.1 trillion in 2019 (USTR). U.S. goods and services trade with China and ASEAN (Southeast Asian Nations) totaled an estimated $1.0 trillion (USTR & USMtoA)

In 2019, Vietnam exported a total of $280B, making it the number 20 exporter in the world. (OEC) Vietnam main exports are telephones, mobile phones and parts thereof and textiles. Others include computers and electrical products, shoes and footwear, and furniture (GSOVN).

The United States of America shipped over $1.6 trillion worth of goods around the globe in 2019. America’s biggest export products by value in 2020 were refined petroleum oil, crude oil, cars, electronic integrated circuits and petroleum gases. (D.W.)

The 27-member European Union (EU) shipped over US$5.6 trillion worth of goods around the globe in 2019. The EU is the world’s most powerful trade entity, collectively responsible for approaching a third (30.2%) of all globally exported goods. The EU’s top exports are machinery including computers, vehicles, electrical machinery and equipment, and pharmaceuticals (D.W.)