vietnam major exports

Photo courtesy of VASEP. Vietnam's exports rise sharply in 2021. Vietnam's meat exports to China spurs in October. Data published from the General Statistics Office shows that in the first 11 months of 2021, Vietnam's exports totaled $299.67 billion, increasing by 17.5% over the same period last year. Vietnam ranked No. Moreover, free trade agreements will help boost Vietnam's exports to many markets, especially small-but-promising ones like Mexico, Brazil, Russia, Colombia, and Thailand. U.S. cotton exports to Vietnam jumped from $392 million in 2014 to a record-high $1.3 billion in 2018, with exports already over $1 billion for the first seven months of 2019. Due to the global economic slowdown exports are forecast to contract 5.5% in 2020 after robust annual growth rates 2019 and 2018. Imported electrical machinery and equipment represents the fastest grower among the top 10 import categories, up by 23.5% from 2019 to 2020. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization. Leading sea ports for exports in Vietnam 2020, by throughput. Major export items of Vietnam to China include smartphones, computers, machinery and wood, while imports include computers, machinery, materials for garment and footwear industries and smartphones. Vietnam's total trade with the United States was $9.98 billion in October, a change of 14.20 percent from the same month one year ago. Download Historical Data. 20 December, 2021, 11:30 am. Vietnam's seafood export value was the highest ever recorded in November, with sales to most of the country's major markets increasing . ''India needs to actively pursue free-trade agreements with its major export destinations - EU, US - to prevent competitive disadvantage it currently faces due to tariff-free access to its competitors,'' the article said. Vietnam is a major producer of coal and the government owns all coal in the country. Vietnam's seafood export value hits all-time high in November. Optical, technical, medical apparatus: $5.7 billion (1.6%) Vietnam's top 10 exports accounted for over three-quarters (77.1%) of the overall value of its global shipments. Vietnam today is a major global exporter Image: WTO, Financial Times . The three countries accounted for 70% of the world's rice exports. India is likely to sell its BrahMos cruise missiles to Vietnam and the Philippines to boost its defence export market and have an edge over China. Meanwhile, electronics . Vietnam exports for 2019 was $279.72B, a 7.79% increase from 2018. The U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. Research Expert covering Vietnam. As an emerging market, it may also fall out of favour as a place to invest in because of the strengthening dollar. The association attributed the rise to the demand in major markets such as the US, Europe and China. Here is an infographic that explained the Vietnam's Export figure beautifully: Vietnam Top Export Goods. Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. Quang Ninh Port is a national major port in the region (Type I) including: - Cai Lan port is the main port that mainly handles general and container cargo from ships up to 50,000 DWT and container ships up to 4,000 TEU; Focus must be placed on this port along with logistics centers and traffic network behind ports in the immediate term of the planning; Satellite specialized ports include . , Mar 23, 2021. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. In the first half of 2021, pork and pork variety meat exports to Vietnam from major suppliers essentially doubled from a year ago, reaching 185,000 mt. Meanwhile, Vietnam's export value of metals and minerals to India reached 789 million U.S. dollars that year. Vietnam is predicted to surpass Brazil and become the leading country to export coffee. "Robust growth of apparel exports by Vietnam to EU despite facing similar tariff structure reflects some underlying issues being faced by the apparel exporters in India," said the article written . Coffee. Vietnam's spinning industry is likely to grow in the coming years through both . In 2014, the export turnover of Vietnam Agriculture set a new record of 30.8 billion USD, an increase of 11.2% in comparison to the previous year. Despite a negative impact caused by the Covid-19 pandemic, Vietnam's exports have scored a success this year with 11-month export revenues reaching approximately $300 billion. Vietnam exports for 2020 was $287.76B, a 2.87% increase from 2019. Vietnam uses this resource in domestic power plants and also exports to the Asia Pacific nations. Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction. Mainland China ranked third with a total registered FDI of $2.17 billion in . Bangladesh has outnumbered China, Vietnam and Indonesia in terms of . Location. Major exports of Vietnam are coal, crude . The Ministry of Industry and Trade of Vietnam on December 15 held a webinar on Vietnam-UK trade prospects, alongside opportunities and challenges in the post-Brexit context and the COVID-19 pandemic. During the last five reported years the exports of Vietnam have changed by $123B from $158B in 2014 to $280B in 2019. Vietnam Textile and Apparel Association (VITAS) anticipates export would reach $39 billion next year, the same as this year, if pandemic impacts are major and . Vietnam exported 270,006 mt (63,843 b/d) of crude in October, down 44.6% year on year and 35.3% lower than September, customs data showed. Since the temporary MFN rate reduction expired, U.S. exports to Vietnam have been in decline despite the country's continued strong demand for imported pork. Vietnam is currently our 10th largest goods trading partner with $89.5 billion in total (two way) goods trade during 2020. In 2019, Vietnam exported a total of $280B, making it the number 20 exporter in the world. Vietnam's crude exports could fall to around 1.13 million mt in Q4, down 20% from Q3, according to low sulfur crude and condensate traders based in Singapore and Ho Chi Minh City surveyed by S&P Global Platts. While the prospect of increasing exports would lead to positive economic growth indicators for Vietnam, there are concerns over how the agreement will affect the domestic market, where small and . January 6, 2022 by en.qdnd.vn. Vietnam exported over 367 million USD worth of shrimp products in November, bringing the total export revenue in the first 11 months of the year to more than 3.5 billion USD, a year-on-year . Major Steel Manufacturers in Vietnam, 2015-2018 Prospect of Vietnam Steel Market, 2020-2024 The growth rate of Vietnam's GDP in 2018 was about 7.08%, a relatively high level in Southeast Asia. In 2020, phones and the related components exports had the largest turnover amongst Vietnam's major commodities exports, at approximately 51 billion U.S. dollars. India needs to actively pursue free-trade agreements (FTAs) with major export destinations like the EU and the US to push apparel shipments amid increasing competition from Bangladesh and Cambodia . At present, novel coronavirus pneumonia has been controlled, and import demand in the region has also started to increase rapidly, creating great opportunities for Vietnamese enterprises to increase their export of major agricultural products. Nevertheless, Vietnam's fruit export revenue has dropped by 13 percent year on year, as exports to China, which accounts for 57 percent of the market share, have declined and dropped by 25 percent in 2020. In particular, Vietnam enjoyed a trade surplus of . Merchandise Trade statistics data for Vietnam (VNM) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. Major imports of Vietnam includes refined petroleum products, medicines, machinery, military supplies, vehicles, and food. Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing . Among the meat and meat products exported, frozen poultry meat accounted for the largest share, 1,230 . The second lists top trade partners of Vietnam regarding import total (buying). With the Nghi Son Refinery opening up in early 2018, Vietnam will have two refineries, each producing a wide variety of petroleum products - mostly for the domestic market, but some for exports. The U.S. is currently Vietnam's second-largest export partner, accounting for 17.7% of Vietnam's global exports in 2017, with a total value of $45.6 billion. Vietnam's spinning industry is likely to grow in the coming years through both . Vietnam Major Exports Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in domestic demand, and strong manufacturing exports. Vietnam exported 2,020 tons of meat and meat products to China for 7.52 million USD, up 61.2 percent and 5.2 percent, respectively, compared to September. It had ranked No. A swine flu pandemic has put upward pressure on prices, but Vietnam's strong currency and low oil prices help to keep inflation at a manageable level. reached 51.3 billion USD in the first 11 months of 2021, up 13.8 percent over the same period of 2020; of which exports hit 35.96 billion USD, up 12.6 percent and imports 15.34 billion USD, up 16.6 percent. 10 among U.S. trade partners in October. 8. Together with crude oil, textile and garments, fishery products are the most important exports in Viet Nam (FAO, 2007). The increasing demand for quality raw timber in Vietnam can only be met by a renowned wood supplier like 'CameroonTimberExportSarl' who can deliver the best . The first table below shows top trading partners of Vietnam in terms of export sales (selling), including United States, Japan, and China. With Vietnam having signed an FTA with the EU in 2019, the competition is only expected to intensify for India, it added. Australia, Europe, and the Middle East. Vietnam has several major electronic companies with major manufacturing in the country, such as Samsung, LG, HP, Canon, Foxconn, and many more that have significant operations in the country. Vietnam exports for 2017 was $227.35B, a 18.29% increase from 2016. tariffs, ownership limitations) or economic incentives for FDI [ see notes in G & P Chap 6 PPT slide # 33 . Truong Van Cam, Vice President of the Vietnam Textile and Apparel Association (VITAS) said that the association has built three scenarios for the sector's exports in 2022. The EU is Vietnam's first-class agricultural export market. (Photo for illustration) Vietnam has maintained a trade surplus for the sixth consecutive year, with a value of over 4 billion USD, mainly with developed, demanding markets like the U.S. (with a trade surplus of about 80.1 billion USD) and Europe (close to 23.2 billion USD). The U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. A major part of the local-use timber in Vietnam is imported from other countries by large timber merchants while it exports a significant amount of processed wood items worldwide. Between 2002 and 2020, GDP per capita increased 2.7 times, reaching almost US$2,800. Cotton exports now account for 49 percent of all U.S. agricultural exports to Vietnam. Its exports are worth 99.2 per cent of its GDP, and as shown previously, much of its success is based on foreign investment and trade. Two-way trade between Vietnam and Brazil hit 5.74 billion USD in the last 11 months, up nearly 36.8 percent year-on-year . Vietnam's exports 2020 by country . Inflation is expected to increase above 3% in 2020 and 2021. [see notes in G & P Chap 6 PPT, slide # 17] Any import or FDI restrictions (e.g. Get in touch with us now. Vietnam is one of the successes of Asia with consistently high GDP growth, strong exports and manufacturing sector, and a growing openness to business. In 2019, China was the leading export market for Vietnamese metals and minerals as China's import value of these commodities amounted to 1.4 billion U.S. dollars. Exports in Vietnam increased to 34.50 USD Billion in December from 31.87 USD Billion in November of 2021. Government estimates showed the Vietnamese economy growing . Vietnam Exports By Country - was last updated on Tuesday, January 4, 2022. 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 product (GDP) and 23rd-largest in the world as measured by purchasing power parity (PPP) in 2020. Machinery including computers was the fastest grower among the top 10 export categories, up by 82.3% from 2019 to 2020. Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. 5. Though it also faces challenges, especially in the public and financial sectors, Vietnam has many underlying strengths in support of very positive long-term perspectives. The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. As of 2017, Vietnam is the largest ASEAN supplier to the U.S. with a net export value of US$48.43 billion. Country. Vietnam earned $30.659 billion from textile and garment exports in the first ten months of 2021. Exports in Vietnam averaged 8.20 USD Billion from 1990 until 2021, reaching an all time high of 29.65 USD Billion in March of 2021 and a record low of 0.54 USD Billion in February of 1997. They asserted that Vietnam will maintain high growth in exports, which will be the major motivation for the country's economic development in 2022. Sales of commodity group 1006 from Vietnam went up by 14.6% compared to 2019: exports of commodity group 1006 "Rice." went up by $ 356 million (cumulative exports of commodity group 1006 from Vietnam amounted $2.43 billion in 2019) Per capita GDP as of 2013 was $2,073, with an unemployment rate of just 2.1% and a poverty rate of 13.5%. In 2016, Vietnam's GDP growth was 6.2%, driven by export-oriented manufacturing and robust domestic demand. According to the latest figures of 2016/2017, the five principal rice exporting countries in the world are India, Thailand, Vietnam, Pakistan, and the United States in decreasing order of amount of rice exported. Most notably, Samsung makes the majority of its Galaxy Smartphones in Vietnam and exports around USD 58 Billion worth of goods a year from Vietnam. Dec 20, 2021. Farm produce is one of Vietnam' major export items to the UK market. Check the Germany export and import goods data.. The figures are expected to top $335 billion by year-end, representing a sharp rise of 18.6 per cent year-on-year and . Export value of specialty metals Vietnam 2019, by type; Minerals, metals and chemical products: wholesale growth in France 2005-2017; Export of ores and minerals including re-exports from India FY 2017-2020; Export value of manufactured goods from Japan 2010-2019; Export value of non-ferrous metals Vietnam 2019, by type In 2009, the US Geological Survey estimated coal production in Vietnam at 43,715 million tons. Under 2-digit level HS Code, mineral fuels and oils stood as the 5th largest import products of Vietnam in 2016. In 2019, electronics accounted for 36 percent of the country's . Vietnam's garment and textile exports next year is set to remain the same as this year even in the worst-case scenario where the Covid-19 pandemic prolongs, an association forecasts. 4. Overview In 2019 Cambodia was the number 101 economy in the world in terms of GDP (current US$), the number 66 in total exports, the number 70 in total imports, the number 150 economy in terms of GDP per capita (current US$) and the number 112 most complex economy according to the Economic Complexity Index (ECI).. Exports The top exports of Cambodia are Knit Sweaters ($2.46B), Precious Metal . The Vietnam News Agency (VNA) has selected top 10 major . Tech. Additional statistics indicate that bilateral trade with the U.S. will surge to US$57 billion by 2020, cementing Vietnam's prominence as a . Vietnam's exports rise sharply in 2021. Vietnam exported approximately 6.9 million tons of crude oil in 2017, sending the majority to its regional neighbors. The value of exports of commodity group 1006 "Rice." from Vietnam totalled $ 2.79 billion in 2020. #1. Vietnam imported iron and steel worth USD 4518 million maximum from China in 2016, which contributed 51.8% value to total iron and steel imports of Vietnam. (Photo for illustration) Vietnam has maintained a trade surplus for the sixth consecutive year, with a value of over 4 billion USD, mainly with developed, demanding markets like the U.S. (with a trade surplus of about 80.1 billion USD) and Europe (close to 23.2 billion USD). Mineral Fuels & Oils. Top export destinations of commodities from Vietnam in 2020: USA with a share of 27% (77 billion US$) China with a share of 17.3% (48 billion US$) Japan with a share of 6.84% (19.2 billion US$) Korea with a share of 6.79% (19.1 billion US$) Hong Kong with a share of 3.7% (10.4 billion US$) In 2020, Tan Cang Cat Lai Port in Southern Vietnam handled the highest amount of exported sea cargo with 37.7 million metric tons . The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. 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vietnam major exports 2022