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Xifres de comerç exterior de Vietnam

Foreign Trade in Figures

Vietnam is one of the most open economies to international trade in Asia, with trade representing 186% of its GDP (World Bank, latest data available). Vietnam exports transmission electronic apparatus and telephones (21.2% of all exports in 2022), electronic integrated circuits and microassemblies (3.6%), footwear (3.2%), technology products, and automatic data processing machines. Imports include electronic integrated circuits and microassemblies (15.3% of all imports in 2022), telephones (7%), petroleum oils (4.7%), and coal (1.8% - data Comtrade).

The main export partners are the United States (29.5% of all exports in 2022), China (15.6%), South Korea (6.5%), Japan (6.5%), and Hong Kong (2.9%). Its main suppliers are China (32.82% of all imports), South Korea (17.3%), Japan (6.5%), and the United States (4%). The Vietnamese economic model remains heavily dependent on foreign investment and exports, especially to the United States and China. In recent years, Vietnam has demonstrated a strong commitment to trade liberalization. It joined the WTO in 2007 and signed Free Trade Agreements (FTAs) with the ASEAN countries and the United States. Vietnam also enjoys a cooperation agreement with the EU. A free trade agreement between both parties was ratified by the European Parliament in February 2020 and is expected to enter into force soon. A Regional Comprehensive Economic Partnership (RCEP) - the world’s largest trade agreement - was signed by Vietnam in 2020, which includes 16 countries in total: Australia, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, and Thailand.

Vietnamese trade is characterized by some geographic inequality: the country shows a trade surplus with Western countries, but a series of deficits with some of its Asian neighbors. In 2022, the value of exports of goods surged to USD 371.29 billion, up from USD 335.98 billion in 2021. Similarly, imports of goods rose to USD 359.15 billion in 2022, compared to USD 332.45 billion in 2021 (data WTO). According to the Ministry of Industry and Trade, the total import-export turnover in 2023 is estimated to reach USD 683 billion, comprising USD 354.5 billion from exports and USD 328.5 billion from imports.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 236,862253,393262,701332,455359,148
Exports of Goods (million USD) 243,699264,268282,629335,978371,288
Imports of Services (million USD) 18,49919,02818,32519,40725,567
Exports of Services (million USD) 14,78016,6526,2903,67312,905

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 164.7164.7163.2186.5n/a
Trade Balance (million USD) 16,54021,49430,70817,46625,717
Trade Balance (Including Service) (million USD) 12,86019,14320,4211,79913,093
Imports of Goods and Services (Annual % Change) 9.64.93.315.8n/a
Exports of Goods and Services (Annual % Change) 12.36.24.113.9n/a
Imports of Goods and Services (in % of GDP) 80.279.578.993.2n/a
Exports of Goods and Services (in % of GDP) 84.485.284.493.3n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -1.55.69.09.99.9
Volume of imports of goods and services (Annual % change) -0.65.910.210.710.7

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Asia - Pacific Economic Cooperation - APEC

Association of Southeast Asian Nations - ASEAN

 

Main Partner Countries

Main Customers
(% of Exports)
2022
United States 29.5%
China 15.6%
South Korea 6.5%
Japan 6.5%
Hong Kong SAR, China 2.9%
See More Countries 38.9%
Main Suppliers
(% of Imports)
2022
China 32.8%
South Korea 17.3%
Japan 6.5%
United States 4.0%
Thailand 3.9%
See More Countries 35.5%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

370.9 bn USD of products exported in 2022
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 21.2%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 3.6%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials (excl. toy footwear) 3.2%
Parts and accessories (other than covers, carrying...Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of heading 8469 to 8472, n.e.s. 2.7%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture) 2.2%
See More Products 67.1%
358.8 bn USD of products imported in 2022
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 15.3%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 7.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 2.7%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 2.0%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal 1.8%
See More Products 71.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

13.5 bn USD of services exported in 2022
41.50%
23.74%
15.73%
9.63%
3.60%
1.71%
1.33%
1.32%
0.75%
0.58%
0.11%
27.4 bn USD of services imported in 2022
45.65%
24.36%
12.59%
6.42%
3.48%
2.08%
1.63%
1.44%
1.07%
0.74%
0.54%

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: April 2024

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