Vietnam Import Data

Vietnam's Import/Export Overview & Domestic Market Update

Imports & Exports

• Top Trade Partners: Vietnam's major trading allies include China, the United States, South Korea, Japan, and ASEAN countries, reflecting a diversified yet Asia-centric trade network.

• Top 5 Imports: Electronics, machinery, oil, plastic, and textiles lead the list, together accounting for over 40% of total imports, underpinning Vietnam's industrial and manufacturing sectors.

• Top 5 Exports: Garments, electronics, footwear, coffee, and seafood represent the country's export strengths, comprising over 50% of total exports, highlighting Vietnam's role in global supply chains.

• Trade Balance: Vietnam maintains a slight trade surplus, thanks to robust exports, particularly in manufactured goods, which offset the cost of imported raw materials and machinery.

• Policy Overview: Vietnam's trade policy is characterized by free trade agreements (FTAs) with multiple partners, aiming to enhance market access and attract foreign investment, crucial for its export-oriented economy.

Domestic Market

• Consumer Spending: Despite periods of economic uncertainty, consumer spending remains resilient, supported by a growing middle class and urbanization trends, driving demand for quality goods and services.

• Interest Rates & Inflation: The State Bank of Vietnam manages interest rates to control inflation, aiming for a balance that supports economic growth without overheating, a delicate act in a rapidly developing economy.

• Supply Chain Dynamics: Vietnam's supply chains are increasingly integrated into global networks, with a focus on improving efficiency and resilience. Challenges remain, particularly in logistics and infrastructure.

• Industry Performance: Manufacturing, especially electronics and textiles, is thriving, while agriculture and fisheries continue to play a foundational role. The tech sector is emerging as a new growth driver.

Overall Outlook

Vietnam's economy is poised for sustained growth, fueled by a strong export sector, rising domestic consumption, and favorable government policies. Challenges such as inflation and supply chain disruptions are being managed through strategic planning and international cooperation.