You can only download this statistic as a Premium user. Trade policies. Vietnam has negotiated two agreements with the European Union: The EVFTA and the EU-Vietnam Investment Protection Agreement (EVIPA). One company, Vietin Bank is a regional bank. Especially, Vietnam enjoyed a trade surplus of US$141 million in . As a Premium user you get access to the detailed source references and background information about this statistic. The first table below shows top trading partners of Vietnam in terms of export sales (selling), including United States, Japan, and China. Access to this and all other statistics on 80,000 topics from, Show sources information Intimex Corporation. Vietnam Exports By Country - was last updated on Sunday, November 6, 2022. By September 2020, the U.S. trade deficit with Vietnam had reached $49.5 billion, trailing only those with China and Mexico. 885 Datasets North America United States 6m companies Asia India 494k companies Vietnam 479k companies Europe Russia Located in U.S. Embassies and Consulates, we provide market intelligence and business connections. The following section uses the most recent trade data from partners of Thailand. While full of economic insight, the summit . You need at least a Starter Account to use this feature. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. Our corporation has established trade links with partners all over world and famous for its high quality products services. The top import categories (2-digit HS) in 2020 were: electrical machinery ($27 billion), furniture and bedding ($9.9 billion), knit apparel ($7.1 billion), machinery ($6.8 billion), and footwear ($6.5 billion). The United States and Vietnam meet regularly on trade and investment issues, including under our 2007 Trade and Investment Framework Agreement, which provides a platform for addressing bilateral issues, monitoring Vietnams implementation of its WTO accession commitments, and coordinating on regional and multilateral issues. 12%/year for the past 5 years. As soon as this statistic is updated, you will immediately be notified via e-mail. Trading:Coffee: arabica & robustaBlack pepper: 550, 500, 450g . Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. Show publisher information It signed a bilateral trade agreement with Korea in 2015, as well as a trade agreement with the Russian-led Customs Union block. Vietnam Sourcing Fairs and Trade Shows. U.S. goods imports from Vietnam totaled $79.6 billion in 2020, up 19.8 percent ($13.2 billion) from 2019, and up 436 percent from 2010. Australia's total two-way trade with Vietnam in 2021 was valued at $16.7 billion. Directly accessible data for 170 industries from 50 countries According to the new information of the General Department of Vietnam Customs, in 2018, among 10 biggest trading partners of Vietnam (countries and territories) there are 8 markets located in Asia. Log in, United States: US$77.1 billion (27.4% of total Vietnamese exports), United Arab Emirates: $3.9 billion (1.4%), China: -US$35.3 billion (country-specific trade deficit in 2020), United States: US$63.3 billion (country-specific trade surplus in 2020). Together with the ASEAN countries, Vietnam has also signed trade pacts with China, the Republic of Korea, Australia and New Zealand, India, Chile and Japan. The U.S. services trade surplus with Vietnam was $1.7 billion in 2020. BEIJING -- Southeast Asia became China's largest trade partner in the January-June half as the trade war with the U.S. forces Beijing to recalibrate its global supply chain. U.S. total imports of agricultural products from Vietnam totaled $2.1 billion in 2020, our 20th largest supplier of agricultural imports. Japan is Vietnam's largest trading partner among 10 trading partners under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), including: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Singapore. Use Ask Statista Research Service, Total value of U.S. trade in goods worldwide 2004-2021, Total value of U.S. trade in goods with China 2011-2021, California's imports and exports of goods 2017-2021. U.S. goods exports to Vietnam were worth over $10 billion in 2020, and U.S. goods imports in 2020 were worth $79.6 billion. Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. More. The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020, a 25.3 percent increase ($14.1 billion) over 2019. Please do not hesitate to contact me. 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U.S. investment in Vietnam was $2.6 billion in 2019. China and Vietnam are close neighbours in East Asia and important trading partners. Vietnam Trade Partners. In 2020, the total value of imports in Vietnam from China amounted to around 73 billion euros, making China the leading import trade partner of Vietnam that year. Leading categories include: tree nuts ($1.1 billion), unroasted coffee ($275 million), spices ($203 million), sugars, sweeteners, beverages bases ($71 million), and dog and cat food ($70 million). Import value of consumer goods in Vietnam 2021, by trade partner Published by Minh-Ngoc Nguyen Minh-Ngoc Nguyen Research Expert covering Vietnam Get in touch with us now , May 20, 2022 In. In the same year, the. Vietnam posted a trade surplus of USD 2.42 billion in August of 2022, shifting from a deficit of USD 1.3 billion in the same month a year earlier. Prime Minister Pham Minh Chinh will pay an official visit to Cambodia from November 8-9 and attend the 40th and 41st ASEAN Summits and related Summits from November 10-13, at an invitation of his Cambodian counterpart Samdech Techo Hun Sen the ASEAN 2022 Chair. Leading services exports from the U.S. to Vietnam were in the travel, transportation, and technical and other services sectors. U.S. imports of services from Vietnam were an estimated $461 million in 2020, 62.9 percent ($782 million) less than 2019, but 27 percent less than 2010 levels. Vit Nam is set to increase the base wage from July 2023. Vietnam's exports to the US reached $63.9 billion while imports from the US were $6.1 billion, up 6.1% year on year. Vietnam remains among the top three trade partners of Laos with annual two-way trade hitting 1.28 billion USD. The total trade value between Vietnam and its 10 biggest trading partners accounts for 72 per cent of the countrys total import export value. In 2020, Vietnam GDP was an estimated $340.6 billion (current market exchange rates); real GDP was up by an estimated 1.6 percent; and the population was 97 million. Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. This entry was posted in NEWS GENERAL, GOVERNMENT NEWS. Due to the intensifying disputes between the two countries in the South China Sea, this has been increasingly seen by policy makers in Hanoi . Trade Partner Events 2020. Register in seconds and access exclusive features. Danang Rubber Company (rubber) DOJI Gold and Gems Group (gold, jewelry) FPT Group (information technology) Habeco (beer) It increased a whopping 41 percent as the U.S.-China trade war escalated, going from $39.5 . Every day, we advocate on behalf of U.S. firms for easier market entry. Germany with US$10.7 billion (accounting for 2.2%). It is also considered Vietnam's most important market, making a major impact on the size and . Leading Goods Trade Partners with the U.S. Total Starbucks locations globally 2003-2021, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2009-2021, Profit from additional features with an Employee Account. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Currently, you are using a shared account. U.S. goods and services trade with Vietnam totaled an estimated $92.2 billion in 2020. Vietnam imports from Japan worth US$ 20,277 million, with a partner share of 7.76 percent. It was the third straight month of trade surplus, and the largest trade surplus since last December, as exports rose more than imports, amid further solid global demand, preliminary data showed. Without the country's trading partners and foreign direct investment that saw its economic potential . Imports The top imports of Vietnam are Integrated Circuits ($34.2B), Telephones ($16.5B), Semiconductor Devices ($6.04B), Light Rubberized Knitted Fabric ($4.84B), and Broadcasting Accessories ($4.1B), importing mostly from China ($104B), South Korea ($48B), Japan ($16.1B), Chinese Taipei ($11.5B), and Thailand ($11.2B). Photo: Thanh Tuan. The two-way trade has grown dramatically, and China has been Vietnam's largest trading partner since 2004. Its trade with the Asian economies constitutes approximately 80 percent of its total trade. Call us: (301)763-2311 or 1-800-549-0595 option 4 Bilateral trade between Vietnam and the US set a new milestone, hitting 111.56 billion USD in 2021, up nearly 21 billion USD over the previous year, according to the General Department of Customs. "Main import trade partners of Vietnam in 2021, by trade value (in billion euros)." Overseas Project Manager 4. The structure of bilateral trade, however, reveals Vietnam's substantial dependence on China. The latest information regarding significant trade barriers can be found in the 2021 National Trade Estimate Report, see here. (VOVWORLD) - Vice Chairman of the Hanoi People's Committee Nguyen Manh Quyen led a delegation to the US from October 27 to 31 to strengthen investment, trade and tourism, and seek out more US business partners. China's total imports . European Commission. Vietnam's merchandise import and export continued to reach a trade surplus of nearly 17 billion USD in 9 months, this trade surplus was 2.6 times higher than the same period in 2018 and 2.3 times higher than the same period in 2019. Vietnam was the United States' 28th largest goods export market in 2020. Since 2010, the two countries have formed Run for zero violence against women and girls in Vietnam: Vietnam a key partner in India's Indo-Pacific vision: Indian President . Contact the International Trade Macro Analysis Branch: Email us! As your trusted India trading partner and Vietnam trading partner, we offer the following: 1. Companies Servicing Vietnamese Trading Partners A pair of Vietnamese corporations ranks among Forbes Global 2000. 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). Vietnam was the United States' 6th largest supplier of goods imports in 2020. Factory Audit 3. Vietnam has experienced a high rate of economic growth over the last two decades and that trade has been a major contributing factor in the structural transformation and development of the country's economy. December 3, 2019. May 10, 2022. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. Track top trading partner countries of Vietnam, These findings are based on global export import shipment database of Volza, it is the most up-to-date but partial information available on Vietnam 's export import trade. known as leading . Trade picture. Then you can access your favorite statistics via the star in the header. Two Vietnamese corporations rank among Forbes Global 2000. In the first half of 2022, Vietnam was the seventh largest trading partner of the US with a total import-export turnover of US$70 billion, up 30.8% over the same period in 2021 and accounting for 2.7% of the US total export turnover. Like the rest of the world, Vietnam has several trade shows. U.S. foreign direct investment (FDI) in Vietnam (stock) was $2.8 billion in 2020, a 2.2 percent decrease from 2019. Since then, the country has entered into numerous Free Trade Agreements and Double Tax Avoidance Agreements. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. To use individual functions (e.g., mark statistics as favourites, set [2] Leading services imports from Vietnam to the U.S. were in the travel, transportation, and professional and management services sectors. 21/GP-CBC dated 13/11/2020; Hotline: 0968.96.34.96. Market Value: 47,430 (millions) Last Updated: June, 2019, Market Value: 57,883 (millions) Last Updated: June, 2019. Statista. Exports were $12.1 billion; imports were $80.1 billion. Main import trade partners of Vietnam in 2021, by trade value (in billion euros) [Graph]. anti-dumping cases, worker's rights, non-market economy, Intellectual Property Rights (IPR) protection and Vietnam's exchange rate policy. At the end of 2018, EU investors had invested more than US$23.9 billion in 2,133 projects in Vietnam. Get full access to all features within our Corporate Solutions. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Nine ASEAN member states with US$56.3 billion (making up 11.7%) and the European Union with US$55.8 billion (accounting for 11.6 %). Date of issue: 05/10/2020Reference period: 9/2020. The amount of Vietnam-Japan trade is spiking, year-on-year, by 12.7% on Vietnamese imports from Japan and 14.9% on exports to Japan (year by year change, October 2018). The top export categories (2-digit HS) in 2020 were: electrical machinery ($2.1 billion), cotton ($1.2 billion), plastics ($544 million), food waste, animal feed ($484 million), and machinery ($473 million). Find COVID-19 Vaccines Near You: Vaccines.gov (English) Vacunas.gov (Spanish)Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish. Accessed November 08, 2022. https://www.statista.com/statistics/1088018/vietnam-main-import-trade-partners-by-trade-value/, European Commission. The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. Country Vietnam Year/Range 2019 Trade Flow Exports & Imports Despite the pandemic, Australian exports of goods to Vietnam rose from $6.4 billion in 2020 to $9.7 billion in 2021. The Republic of Korea follows in second with US$65.7 billion (accounting for 13.7%). The U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. According to its General Statistics Office (GSO), in 2018, Vietnam exported $41.9 billion worth of goods to its giant neighbor and imported $65.8 billion worth from it.In the same year, it sold $47.5 billion worth of goods to the US and bought $12.8 billion worth from it. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. In the first nine months of this year, its trade turnover with Vietnam reached $132.38 billion, accounting for over 23.7 per cent of total trade turnover. The Vietnam Women's Union and Nestl Vietnam signed a strategic cooperation agreement for the period of 2022 - 2027 to continue to implement a nationw . Which is what makes the 30% increase in 2019 all the more impressive. That is, most products are imported from these countries to Vietnam. Hong Kong with US$9.5 billion (accounting for 2% ). Established in 1979, INTIMEX Import Export Corporation is a State owned company under the Ministry of Trade Vietnam. Deputy Editor-in-Chief: Hoang Anh Vinh - Nguyen Chi Thanh, Licence No. The events were well-received by 215 top customers of Camel. The other large business, Petrovietnam Gas is part of the following list of Vietnamese international trade businesses. It had ranked No. statistic alerts) please log in with your personal account. Most of the trade shows in Vietnam are focused on specific industries. This was an increase of more than 51 per cent, making Vietnam the . Vietnam trade balance, exports and imports by country and region 2019 In 2019, Vietnam major trading partner countries for exports were United States, China, Japan, Korea, Rep. and Hong Kong, China and for imports they were China, Korea, Rep., Japan, Other Asia, nes and United States . ($23.2B), Hong Kong ($11.8B), and Vietnam ($11.2B). In terms of total turnover, at the end of 2019, Japan ranked fourth (after China, the . Industry-specific and extensively researched technical data (partially from exclusive partnerships). or use our feedback form! Hanoi seeks stronger partnership with US. ", European Commission, Main import trade partners of Vietnam in 2021, by trade value (in billion euros) Statista, https://www.statista.com/statistics/1088018/vietnam-main-import-trade-partners-by-trade-value/ (last visited November 08, 2022), Main import trade partners of Vietnam in 2021, by trade value, Available to download in PNG, PDF, XLS format, Leading merchandise exporters worldwide 2020, by value, Share of leading merchandise exporters worldwide 2020, Leading global merchandise importers 2020, by importing nation, Share of the leading merchandise importers worldwide 2020, by importing nation, Total value of U.S. international trade 2000-2021, U.S. trade balance of goods and services 2000-2021, U.S. foreign trade - balance of trade goods and services by quarter 2010-2022, U.S. foreign trade - imports of trade goods and services by quarter 2010-2022, U.S. foreign trade - exports of trade goods and services by quarter 2010-2022, Total monthly imports and exports of goods of the U.S. 2017-2021, Total value of U.S. trade balance 2015-2022, by month, Leading 15 trade partners with the United States 2021, by country, Leading 15 countries share of U.S. total trade in goods 2021, Total value of U.S. trade in goods with Canada 2004-2021, Total value of U.S. trade in goods with Mexico 2004-2021, Total value of U.S. trade in goods with Japan 2000-2021, Total value of U.S. trade in goods with Germany 2000-2021, Texas' imports and exports of goods 2017-2021, Illinois' imports and exports of goods 2017-2021, New York's imports and exports of goods 2017-2021, Michigan's imports and exports of goods 2017-2021, New Jersey's imports and exports of goods 2017-2021, Italy: opinion on growing trade for the own country 2018, Growth of worldwide imports in Vietnam 2011-2021, United Kingdom total trade value 2016-2021, China's total imports and exports in goods 2011-2021, Import value of salt to Indonesia from Australia 2011-2017, Italy: opinion on growing trade and impact on prices 2018, Total import value from the EU to Vietnam 2010-2021, Share of imports from the EU to Vietnam 2021, by type of goods, Value of U.S. merchandise trade with Sri Lanka 2000-2010, Total value of U.S. trade in goods with France 2022, by month, Value of international U.S. trade in goods and services 2000-2010, Main import trade partners of Vietnam in 2021, by trade value (in billion euros), Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre.

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