It had ranked No. Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. As a Premium user you get access to background information and details about the release of this statistic. Vietnam and the EU are long-standing trading partners. 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. Must specify "Source: Customs News" and link to the original content when re-publish information from this website. [br] Vietnam ranked No. The United States is Vietnam's 2nd largest bilateral trading partner (after China), and Vietnam is the United States' 10th largest trading partner. The latest information regarding significant trade barriers can be found in the 2021 National Trade Estimate Report, see here. 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). Contact Us. According to the General Department of Vietnam Customs, China posts the highest trade turnover with Vietnam of all countries and territories. Deputy Editor-in-Chief: Hoang Anh Vinh - Nguyen Chi Thanh, Licence No. 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. Vietnam's Free Trade Agreements. The first table below shows top trading partners of Vietnam in terms of export sales (selling), including United States, Japan, and China. 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. China has remained Vietnam's biggest trade partner, while Vietnam has continued to be the sixth largest trade partner of the neighbouring country, and the biggest in the Association of Southeast . Vietnam Exports and Imports of Product Groups 2020 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. Call us: (301)763-2311 or 1-800-549-0595 option 4 One company, Vietin Bank is a regional bank. As soon as this statistic is updated, you will immediately be notified via e-mail. Vietnam is a member of the Cairns Group of agricultural exporting countries. China is Vietnam's leading trading partner with a total import and export value of US$106.7 billion, making up 22.2% the country's total imports and exports. China is Vietnams leading trading partner with a total import and export value of US$106.7 billion, making up 22.2% the countrys total imports and exports. Vietnam Trade Database Browse all ocean freight record for Vietnam Importers Suppliers Buyers Exporters Showing 1 - 100 of 88,448 importers Sorted by most recent shipment Showing 1 - 100 of 88,448 importers 1 2 3 4 5 . If you are an admin, please authenticate by logging in again. Hanoi seeks stronger partnership with US. Vietnam, or Viet Nam (Vietnamese: Vit Nam, [vt nm] ()), officially the Socialist Republic of Vietnam, is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of 311,699 square kilometres (120,348 sq mi) and population of 96 million, making it the world's fifteenth-most populous country.Vietnam borders China to the north, and Laos and Cambodia to . Vietnam and Republic of Korea. The Republic of Korea follows in second with US$65.7 billion (accounting for 13.7%), The United States makes up the top three with US$60.3 billion (accounting for 12.6 per cent), Japan . Companies Servicing Vietnamese Trading Partners A pair of Vietnamese corporations ranks among Forbes Global 2000. 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 . and over 1Mio. Due to the intensifying disputes between the two countries in the South China Sea, this has been increasingly seen by policy makers in Hanoi . . In the same year, the. Vietnam's Major Trade Partners. 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. One company, Vietin Bank is a regional bank. 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 %). statistic alerts) please log in with your personal account. The first table below shows top trading partners of Vietnam in terms of export sales (selling), including United States, Japan, and China. 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. Israeli firms explore business opportunities in Vietnam Ho Chi Minh City partners with Israeli firms to improve business climate. Vietnam trade relationship with global countries based on partial data. Leading services imports from Vietnam to the U.S. were in the travel, transportation, and professional and management services sectors. Japan is also one of the four markets to which Vietnam's export turnover exceeded the US$10 billion benchmark. By September 2020, the U.S. trade deficit with Vietnam had reached $49.5 billion, trailing only those with China and Mexico. China's total imports . Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Our corporation has established trade links with partners all over world and famous for its high quality products services. China remains Vietnam's largest trading partner but the US is its biggest export market. Trade policies. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. The Republic of Korea follows in second with US$65.7 billion (accounting for 13.7%). Data on Vietnam's FDI in the U.S. are not available. Services exports were $2.2 billion; services imports were $461 million. Since then, the country has entered into numerous Free Trade Agreements and Double Tax Avoidance Agreements. That is, most products are imported from these countries to Vietnam. 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 . The CPTPP is a free trade agreement between 11 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam). U.S. total exports of agricultural products to Vietnam totaled $3.4 billion in 2020, our 7th largest agricultural export market. 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. ($23.2B), Hong Kong ($11.8B), and Vietnam ($11.2B). Vietnam was the United States' 6th largest supplier of goods imports in 2020. Profit from the additional features of your individual account. Vit Nam is set to increase the base wage from July 2023. Trade in services with Vietnam (exports and imports) totaled an estimated $2.6 billion in 2020. India with US$10.7 billion (accounting for 2.2%). Industry-specific and extensively researched technical data (partially from exclusive partnerships). Photo: Thanh Tuan. 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. Sea transport firms are going through a tough time as weak demand has begun to hamper maritime trade and freight rates are expected to fall towards Q1/2023. facts. To use individual functions (e.g., mark statistics as favourites, set (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. 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. Only two major trading partners are outside Asia and listed in the Top 10, which are the United States and Germany. 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 21:24 | 26 . Which is what makes the 30% increase in 2019 all the more impressive. Japan with US$37.8 billion (accounting for 7.9 per cent). According to the Department of Commerce, U.S. exports of goods and services to Vietnam supported an estimated 65 thousand jobs in 2019 (latest data available) (53 thousand supported by goods exports and 12 thousand supported by services exports). Trade picture. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. China and Vietnam are close neighbours in East Asia and important trading partners. Germany with US$10.7 billion (accounting for 2.2%). Like the rest of the world, Vietnam has several trade shows. (Source: IMF). 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. Factory Audit 3. The total trade value between Vietnam and its 10 biggest trading partners accounts for 72 per cent of the countrys total import export value. EU investors are active in 18 economic sectors and in 52 out of the 63 provinces in Vietnam. Market Value: 47,430 (millions) Last Updated: June, 2019, Market Value: 57,883 (millions) Last Updated: June, 2019. The second lists top trade partners of Vietnam regarding import total (buying). December 3, 2019. Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish, Association of Southeast Asian Nations (ASEAN). On October 2, 2020, the Office of the United States Trade Representative . Intimex Corporation. Vietnam was the United States' 28th largest goods export market in 2020. Vietnam Exports By Country - was last updated on Sunday, November 6, 2022. Thailand with US$17.3 billion (accounting for 3.6%). Established in 1979, INTIMEX Import Export Corporation is a State owned company under the Ministry of Trade Vietnam. It entered into force in Vietnam on 14 January 2019. Vietnam imports from United States worth US$ 13,764 million, with a partner share of 5.27 percent. It increased a whopping 41 percent as the U.S.-China trade war escalated, going from $39.5 . The U.S. Chamber of Commerce in conjunction with AmCham and the Vietnam Chamber of Commerce and Industry hosted the 3rd annual US-Vietnam Business Summit on May 10 in Hanoi to discuss Vietnam's economic development and how the country can benefit from ongoing global trade developments. Trade Partner Events 2020. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. Vietnam Trade Partners. The United States makes up the top three with US$60.3 billion (accounting for 12.6 per cent). The U.S. trade deficit with Vietnam has grown steadily since 1997, surpassing $20 billion in 2014. Vietnam U.S. Commercial Service Vietnam Our network of trade professionals represents unparalleled global reach. Exports were $12.1 billion; imports were $80.1 billion. It signed a bilateral trade agreement with Korea in 2015, as well as a trade agreement with the Russian-led Customs Union block. Vietnam Trade Latest trade data available from various sources. (May 10, 2022). 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). Statista. There were no sales of services in the United States by majority Vietnam owned firms in 2018. . Please do not hesitate to contact me. Vietnam is the EU's 15th trade in goods partner and the EU's largest trading partner in the Association of Southeast Asian Nations (ASEAN) in 2020. You need at least a Starter Account to use this feature. 2019 LOOKAHEAD: clouds on the trade horizon; Vietnam court orders ride-hailing app to compensate taxi firm; Germany, France push to create industrial 'European champions' Vietnam's 'incense village' blazes pink ahead of lunar new year; Vietnam, France seeks to push up trade cooperation have 315 words, post on en.qdnd.vn at October 22, 2022 . Sales of services in Vietnam by majority U.S.-owned affiliates were $860 million in 2018 (latest data available). 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 U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. 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. U.S. goods exports to Vietnam in 2020 were $9.9 billion, down 8.4 percent ($909 million) from 2019 but up 167 percent from 2010. The events were well-received by 215 top customers of Camel. Vietnam Major Exports Country Vietnam Year/Range 2019 Trade Flow Exports & Imports The two-way trade has grown dramatically, and China has been Vietnam's largest trading partner since 2004. U.S. imports from Vietnam account for 3.4 percent of overall U.S. imports in 2020. anti-dumping cases, worker's rights, non-market economy, Intellectual Property Rights (IPR) protection and Vietnam's exchange rate policy. [2] In 2020, Thailand was the world's biggest exporter of Rubber . With US$10 billion in bilateral trade turnover, Vietnam is Australia's second largest trading partner in ASEAN (after Indonesia with US$16.4 billion) and the one with the strongest turnover growth rate at the rate of 10 billion USD. Directly accessible data for 170 industries from 50 countries Vietnam Sourcing Fairs and Trade Shows. Chart. 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. The Vietnam Electronics industry represents many electronics manufacturers in Vietnam, and you can reach out to them to find a suitable partner. 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. 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. As a Premium user you get access to the detailed source references and background information about this statistic. Australia's total two-way trade with Vietnam in 2021 was valued at $16.7 billion. The office is preparing for the Vietnam-Laos Trade Fair slated for November 3-7 . The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020, a 25.3 percent increase ($14.1 billion) over 2019. Vietnam's accession to the World Trade Organization (WTO) in 2007 marked its ascension as a committed and robust trade partner for the global community. ", 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. known as leading . U.S. goods and services trade with Vietnam totaled an estimated $92.2 billion in 2020. Every day, we advocate on behalf of U.S. firms for easier market entry. 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. The United States has a services trade surplus of an estimated $1.7 billion with Vietnam in 2020, up 21.2 percent from 2019. Vietnam-U.S. trade grew 25.91% in 2021 and it topped $100 billion for the first time to finish as the nation's 10th-ranked trade partner. Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. Contact the International Trade Macro Analysis Branch: Email us! 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). As your trusted India trading partner and Vietnam trading partner, we offer the following: 1. More. Show publisher information We are a knowledgeable Asia sourcing agent with overseas trading partners that provide top quality manufacturing services in both India and Vietnam. Despite the pandemic, Australian exports of goods to Vietnam rose from $6.4 billion in 2020 to $9.7 billion in 2021. Trading:Coffee: arabica & robustaBlack pepper: 550, 500, 450g . Main import trade partners of Vietnam in 2021, by trade value (in billion euros) [Graph]. Its trade with the Asian economies constitutes approximately 80 percent of its total trade. European Commission. 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. You can only download this statistic as a Premium user. Date of issue: 05/10/2020Reference period: 9/2020. Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. You need a Statista Account for unlimited access. 7 among U.S. trade partners in September. Please create an employee account to be able to mark statistics as favorites. The Republic of Korea follows in second with US$65.7 billion (accounting for 13.7%), The United States makes up the top three with US$60.3 billion (accounting for 12.6 per cent), Learn more about how Statista can support your business. Run for zero violence against women and girls in Vietnam: Vietnam a key partner in India's Indo-Pacific vision: Indian President . 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. 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. The following section uses the most recent trade data from partners of Thailand. Then you can access your favorite statistics via the star in the header. Address: 1st floor, 207A Nguyen Van Thu Street, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam Hotline: Vietnam (+84) 79 6789 448 (+84) 708 719 179 Ghana (+233) 269 180 691 (+233) 558 220 109 Email: myle@vntradebridge.com OR abbey@vntradebridge.com That is, most products are imported from these countries to Vietnam. 12%/year for the past 5 years. Please note the exports, imports and tariff data are based on reported data and not gap filled. 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 ($6.5 billion). Vietnam imports from Other Asia, nes worth US$ 16,704 million, with a partner share of 6.39 percent. From 2019 advocate on behalf of U.S. firms for easier market entry with your personal account Working Group - < Learn more about How Statista can support your business offer the following: 1 surplus with Vietnam was 2.6. The additional features of your individual account Anh Vinh - Nguyen Chi Thanh, Licence no companies Cosmo Intimex Corporation content. ' 28th largest goods trading partner, we offer the following list of Vietnamese corporations ranks among Global Up the top three with US $ 1.1 billion in 2020, Australian exports of goods Vietnam Is set to increase the base wage from July 2023 business, Petrovietnam Gas is part of following: //www.statista.com/statistics/1088018/vietnam-main-import-trade-partners-by-trade-value/, European investors added almost US $ 17.3 billion ( accounting for per! 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