Vietnam Trade Data to Know Vietnam's Exports and Imports

by Tradeimex Solution Import Export

South East Asia includes Vietnam. The nation, which shares a border with China and Laos, has a lengthy South China Sea coastline. The 21st-largest country in the world is Vietnam. According to data on international trade, Vietnam imported $22450 million in goods and services and exported $3000 million worth. The economic and GDP growth of a nation are directly related to these trade figures. The economic expansion in Vietnam increased by 5.31%. Data about Vietnam Export Data is used by both the government and business world. As a major hub for sourcing and manufacturing, Vietnam is growing.

Data on Vietnam Imports

Data on imports into Vietnam reveals that over the past fifteen years, imports have prospered. The government has heavily regulated the county. Vietnam is now a well-liked source of imports. Vietnam is spending a lot of money on construction projects.

as well as providing incentives to the sector to establish manufacturing. The middle-class population is rising quickly, which indicates a big captive market for imported goods. To conduct business within the nation, importers require an investment licence.

Vietnam trades substantially with other ASEAN nations. China, South Korea, Japan, Singapore, and Thailand are Vietnam's biggest trading partners. According to import data from Vietnam, the top imported goods include iron and steel, plastics, cars, mineral fuel and oil, electrical and mechanical apparatus, and iron and steel. The projection indicates that by year's end, we should expect imports to total $23800 million.

Vietnam Export Statistics

For the production of electronics, machinery, steel, food processing, etc., Vietnam has become an industrial powerhouse. According to export statistics, Vietnam has emerged as a major exporter of agricultural goods.

Electronics, footwear, knitted and non-knitted clothes, furniture, machinery, fish and crustaceans, and edible fruits and nuts are among the nation's top exports.

The United States, China, Japan, South Korea, and Hong Kong are Vietnam's major export partners. According to data on Vietnam's exports, the United States contributed more than 21% of all exports, followed by China at 12.43%. The prediction indicates that by 2020, we anticipate exports to reach $25400 million.