Vietnam Export Data statistics of 2021 suggest that Vietnam exports were around 413.28 Billion USD. October 31, 2022. vietnamhad a total exportof 281,441,457.24 in thousands of us$ and total importsof 261,309,451.92 in thousands of us$ leading to a positive trade balanceof 20,132,005.32 in thousands of us$ the effectively applied tariffweighted average (customs duty) for vietnam is 1.34% and the most favored nation (mfn)weighted average tariff is 5.30%.the trade Vietnam's Ministry of Industry and Trade forecast that the country's exports will continue to rise, largely driven by the global economic recovery and new free . Vietnam is an emerging economy. Commodities showing declines in 2021 included cotton, down $135 million, and fresh fruit, down $35 million. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. This is significant, as cotton accounts for around a third of the total U.S. agricultural export value to Vietnam. Exim Trade Data provides the best research platform for Vietnamese market research. Gain industry specific insights through our trade intelligence platform. As well, the planted area of Arabica coffee accounts for only 6% of the entire region. According to updated figures from the Ministry of Planning and Investment (MPI) recently reported to the government, since 2011, Vietnam's export turnover soared from US$93.6 billion in 2011 to US$263.5 billion in 2019. Much of the growth in 2021 can be attributed to increases in nonfat dry milk powder exports, followed by increases for whey and lactose. Rice exports play an important role in Vietnam's socio-economic development. textile world . Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). Particularly in June 2020, Vietnam's rice export volume was estimated at more than 400,000 tons with a value of US $ 207 million. U.S. total exports of agricultural products to Vietnam totaled $3.4 billion in 2020, our 7th largest agricultural export market. U.S. exports to Vietnam grew by 23.3% in 2015 and by 43.2% in 2016, resulting in a two-year increase of 77.1%. . The U.S.-Vietnamese commercial relationship has grown since the United States lifted its trade embargo against Vietnam in 1994 and the two countries renewed diplomatic relations in 1995. Furthermore, industrial inputs continued to see steady growth as Vietnam continues to import machinery, chemicals, instruments, and software to support its growing industrial sector. This site uses cookies to optimize functionality and give you the best possible experience. Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent). As per Vietnam exports shipment data, the top 10 Vietnam major exports products in 2021 were Telephones (8.4%), Transmission parts, portable receivers (7.9%), Electronic Integrated Circuits (3.28%), Semi-finished iron non-alloy steel (2.12%), Other transmission apparatus (1.85%), Nuclear Reactors, Boilers (1.5%), footwear with outer soles of rubber, plastics, leather (1.12%), Sports Footwear (1.11%), LED, Backlight, modules (1.01%), and Photovoltaic Cells (0.97%). External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Vietnam's total exports in 2021 came in at 336.31 billion USD, while its imports rose 26.5% to 332.23 billion USD, resulting in a trade surplus of 4.08 billion USD Vietnam Customs Department, 2022). Over the past five years, Vietnams export revenue to the U.S. surged 230 percent, while its import value was up by more than 175 percent. Japan, and China. Vietnam exports for was $0.00B, a NAN% decline from . Vietnam exported 3.5 billion USD worth of coffee in 2018 and this number is expected to be even higher by the end of 2019 going into 2020.. Vietnam exported 3.5 billion USD worth of coffee in 2018.. Vietnamese coffee has, in recent years, become popular abroad because of its strength and flavor. Vietnam's exports of textiles and apparel products are expected to hit an all-time high of $22 billion in the first six months of 2022, up. Electrical machinery, equipment: US$126.9 billion (41.7% of total exports) Footwear: $24.7 billion (8.1%) Vietnamese rice grains have been present in over 150 countries and territories. Currently, the United States is subject to the higher most-favored-nation tariffs, while competitors from other markets, including the Peoples Republic of China, Russia, Australia, Canada, New Zealand, and the EU, gain greater market share as tariffs decline under their FTAs. There were around 44 million shipments as per our Vietnam exports shipment reports. Vietnam exports 2022 data reports suggest that there was around 9.46% increase in exports as compared to previous year. as per vietnam exports shipment data, the top 10 vietnam major exports products in 2021 were telephones (8.4%), transmission parts, portable receivers (7.9%), electronic integrated circuits (3.28%), semi-finished iron non-alloy steel (2.12%), other transmission apparatus (1.85%), nuclear reactors, boilers (1.5%), footwear with outer soles of Vietnam's plastic exports to Cambodia's market increased in the first 3 months of 2022, with the export turnover of plastic reaching 50.7 million USD, accounting for 3.6% of the total export turnover of plastic products. The second lists top trade partners of Vietnam regarding import total (buying). Download Free Sample Vietnam Export Data by Country, HS Code, Product Details, Unit, Price, exporter name, and port of loading/unloading shipping information. USA was the largest market for exports from Vietnam in 2020 ($ 77 billion or 27% of total exports). Vietnam was ranked 18th on the list of the world's top importers. Since 1990, Vietnams average economic growth rate of 5.5 percent has been second only to the Peoples Republic of China (PRC) in Asia. Subsequently, Vietnam's economy achieved strong growth in agricultural and industrial production, construction, exports, and foreign investment, although . Vietnams agriculture sector continues to recover from an ASF outbreak, supply chain challenges due to COVID-19, and severe weather events due to climate change. U.S. Department of Commerce
A lock ( TheInternational Trade Administration,U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. Imported vehicles represent the fastest grower among the top 10 import categories, up by 75.9% from 2020 to 2021. Ibrahim Khalil June 26, 2022. by Ibrahim Khalil June 26, 2022 0. Among Vietnam's key export staples, phones and parts are predicted to gross the largest export turnover during the January-November period with US$46.9 billion, down 3.4% . Vietnam has emerged as the largest export market for electrical and electronics goods. Annually, Vietnam's rice exports account for about 15% of the world's total rice exports. Official customs data indicates total exports of all fishery products in 2020 was $8.4 billion, making catfish exports a substantial contributor to aquaculture and fishery export values. . The United States continues to work on market access for U.S. grapefruit, lemons, mandarins, and stone fruit. Vietnam main exports are: telephones, mobile phones and parts thereof (21 percent of total shipments) and textiles (12 percent). This country of over 98 million consumers, with a positive view towards the United States, exhibits the demographics needed for continuous growth over the next 20 years, and it is a rising star among Asias bustling economies. This Country Commercial Guide is intended to introduce U.S. exporters to doing business in Vietnam and provide the foundation necessary for a firm to take the initial steps needed to pursue business here. Monitor their shipment activities and identify your business prospects. Share sensitive information only on official, secure websites. Vietnam main exports are: telephones, mobile phones and parts thereof (21 percent of total shipments) and textiles (12 percent). Vietnam is the leading exporter of cashews worldwide, accounting for 32.7% of global cashew exports in 2017 with a value of $2.8 billion. A tuna export company reported that its total export turnover in the first nine months of the year reached $181 million, of which the EU market brought $46.8 million. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Comply with U.S. and Foreign Export Regulations. This strong economic growth has resulted in a booming and optimistic middle class. The economy of Vietnam is a mixed socialist-oriented market economy, which is the 37th-largest in the world as measured by nominal gross domestic . Source: VIRAC. The value of merchandise exports from Vietnam totalled $ 281 billion in 2020. Import/export duties declarations are required upon registration of customs declarations with the customs offices. by Arno Maierbrugger - Feb 24, 2021. A Tale of Two Exporters. In 2019, Vietnams GDP growth was more than 7 percent, and 2020 marked a growth rate of 2.9 percent, placing Vietnam among a handful of nations globally that reported positive economic growth amid the pandemic. In the first quarter of 2022, Vietnam's exports increased by 13.4% from the previous year to hit USD 89.1 billion while imports reached USD 87.6 billion, up 15.2% year-on-year. Robusta is the key cash crop in Vietnam, and farmers are beginning to see a rising trend in the export rate, especially in the year 2019 and 2020. International Trade Administration
U.S. export of agricultural products account for 30-40 percent of total exports to Vietnam, and the country remains a top ten market for U.S. food and agricultural products and it is the fastest growing market in the top ten. In 2020, Vietnam exported a total of $300B, making it the number 16 exporter in the world. As a result of significant engagement, many agricultural trade irritants for the United States have been eliminated. For imported goods, import duties must be paid before receipt of consumer goods. 2022 : U.S. trade in goods with Vietnam . 1401 Constitution Ave NW
Exports of goods and services (annual % growth), Exports of goods and services (constant LCU), Exports of goods and services (constant 2015 US$), Exports of goods and services (current LCU), Exports as a capacity to import (constant LCU), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Since the BTA, bilateral trade increased from USD 2.9 billion in 2002 to over USD 75.7 billion in 2019, transforming Vietnam into the seventhlargest source of U.S. imports and 27th largest destination for U.S. exports. Vietnam's garment industry is expected to face a decline in orders from its key markets over the next two quarters, the country's textile and apparel association said on Monday, amid high inflation that is dampening global demand. Given Vietnam's population of 98.3 million people, its total $406.8 billion in 2021 exports translates to roughly $4,150 for every resident in the Southeast Asian nation. Vietnam exported more than 50 per cent of its garments to the US out of the total exports of $17.875 bn in the first half (H1) of this year. Vietnam's Top 10 Exports Identify the potential business opportunities in the global market with our expert intelligence reports. Leading domestic export categories include: cotton ($1.2 billion), soybeans ($425 million), distillers grains ($284 million), dairy products ($185 million), and other feeds, meals and fodders ($155 million). Political stability in a region known for its uncertainty. Textiles and garments are still an important part in Vietnam's export, valued about US$17.9 . By utlilizing our Vietnam Exporters Database, you can reach out to the top suppliers and exporters in Vietnam. Over the past few years, Vietnam has been active in signing bilateral trade agreements with countries throughout the world. Data are in current U.S. dollars. Due to the heavy demand from the manufacturing companies, Vietnam exports its wide range of products to foreign countries. USA holds the top position accounting for 23 % of the export with a value of 61 billion USD. Shrimp accounted for 46 percent of Vietnam's total seafood exports in 2017, raking in US$3.8 billion out of US$8.3 billion worth of aquaculture exports in total. U.S. raw materials that are inputs to Vietnams textile, manufacturing, and livestock sectors face zero or low tariffs, but have seen recent growth stymied by COVID-related restrictions. The travel and tourism sector, one of Vietnams most critical industries, hopes to benefit from the return of international visitors in mid-2022 after widespread COVID-19 disruptions since 2020.
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