Despite the pandemic, Australian exports of goods to Vietnam rose from $6.4 billion in 2020 to $9.7 billion in 2021. Please create an employee account to be able to mark statistics as favorites. There is no information on the distribution of U.S. FDI in Vietnam. The first table below shows top trading partners of Vietnam in terms of export sales (selling), including United States, Japan, and China. It increased a whopping 41 percent as the U.S.-China trade war escalated, going from $39.5 . June 05, 2019. More. Companies Servicing Vietnamese Trading Partners A pair of Vietnamese corporations ranks among Forbes Global 2000. Most of the trade shows in Vietnam are focused on specific industries. Profit from the additional features of your individual account. The U.S.-Vietnam Bilateral Trade Agreement (BTA) is a comprehensive document covering trade in goods, protection of intellectual property rights, trade in services, investment protection, business facilitation and transparency. In terms of total turnover, at the end of 2019, Japan ranked fourth (after China, the . (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. Deputy Editor-in-Chief: Hoang Anh Vinh - Nguyen Chi Thanh, Licence No. You can only download this statistic as a Premium user. It entered into force in Vietnam on 14 January 2019. You need a Statista Account for unlimited access. Vietnam was the United States' 28th largest goods export market in 2020. 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 . U.S. investment in Vietnam was $2.6 billion in 2019. 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Vietnam and the EU are long-standing trading partners. 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. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. The U.S. trade deficit with Vietnam has grown steadily since 1997, surpassing $20 billion in 2014. Vietnam has negotiated two agreements with the European Union: The EVFTA and the EU-Vietnam Investment Protection Agreement (EVIPA). As soon as this statistic is updated, you will immediately be notified via e-mail. Since then, the country has entered into numerous Free Trade Agreements and Double Tax Avoidance Agreements. Vietnam Trade Latest trade data available from various sources. The following section uses the most recent trade data from partners of Thailand. 12%/year for the past 5 years. With US$10 billion in bilateral trade turnover, Vietnam is Australia's second largest trading partner in ASEAN (after Indonesia with US$16.4 billion) and the one with the strongest turnover growth rate at the rate of 10 billion USD. Danang Rubber Company (rubber) DOJI Gold and Gems Group (gold, jewelry) China remains Vietnam's largest trading partner but the US is its biggest export market. The United States, along with like-minded partners including Australia, Japan, France, and the United Kingdom, should propose a multilateral . statistic alerts) please log in with your personal account. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Contact Us. Vietnam imports from United States worth US$ 13,764 million, with a partner share of 5.27 percent. The United States has a services trade surplus of an estimated $1.7 billion with Vietnam in 2020, up 21.2 percent from 2019. Register in seconds and access exclusive features. 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. Chart. [2] The events were well-received by 215 top customers of Camel. Hanoi seeks stronger partnership with US (Photo . Before 1990, Vietnam's chief trading partners included socialist countries, especially the Soviet Union. The Vietnam Electronics industry represents many electronics manufacturers in Vietnam, and you can reach out to them to find a suitable partner. Country Vietnam Year/Range 2019 Trade Flow Exports & Imports That is, most products are imported from these countries to Vietnam. At the end of 2018, EU investors had invested more than US$23.9 billion in 2,133 projects in Vietnam. That is, most products are imported from these countries to Vietnam. Vietnam with six other partners are now in the ongoing Trans-Pacific Partnership (TPP) negotiations with the U.S. [7] The growth in bilateral trade has also been accompanied by issues and problems, e.g. 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). This was an increase of more than 51 per cent, making Vietnam the . Located in U.S. Embassies and Consulates, we provide market intelligence and business connections. EU investors are active in 18 economic sectors and in 52 out of the 63 provinces in Vietnam. 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). The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020, a 25.3 percent increase ($14.1 billion) over 2019. U.S. total imports of agricultural products from Vietnam totaled $2.1 billion in 2020, our 20th largest supplier of agricultural imports. Trade picture. The United States exported $10.9 billion to Vietnam in 2021, with top categories being computer and electronic products, agricultural products, chemicals, and processed foods. Danang Rubber Company (rubber) DOJI Gold and Gems Group (gold, jewelry) FPT Group (information technology) Habeco (beer) The U.S. services trade surplus with Vietnam was $1.7 billion in 2020. 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. United States and Vietnam in 1995, overlapping strategic and economic interests have led the two countries to expand ties across a wide spectrum of issues. 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. On October 2, 2020, the Office of the United States Trade Representative . (Source: IMF). The 140-page agreement, which took almost five years to negotiate and put into effect, is highly-technical and was . According to the data disclosed by the National Bureau of Statistics of China (NBS), the total trade between China and Vietnam amounted to USD 192 billion, accounting for more than 4% of Beijing's international trade in the year and making Vietnam the most important partner in South-east Asia. At the conference: As part of the national trade promotion program in 2022, the event was co-hosted by the Vietnamese Embassy in Israel's Vietnam Trade Office and the Federation of Israeli Chambers of Commerce . Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. Must specify "Source: Customs News" and link to the original content when re-publish information from this website. Vit Nam is set to increase the base wage from July 2023. Vietnam's Membership in International Organizations The U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. A paid subscription is required for full access. Only two major trading partners are outside Asia and listed in the Top 10, which are the United States and Germany. The two-way trade has grown dramatically, and China has been Vietnam's largest trading partner since 2004. Due to the intensifying disputes between the two countries in the South China Sea, this has been increasingly seen by policy makers in Hanoi . Vietnam's total trade with the United States was $12.56 billion in September, a change of 39.52 percent from the same month one year ago. Currently, Vietnam's major trading partners include Japan, Singapore, Hong Kong, Taiwan, Korea and the European Union. The Republic of Korea follows in second with US$65.7 billion (accounting for 13.7%). Leading services imports from Vietnam to the U.S. were in the travel, transportation, and professional and management services sectors. Without the country's trading partners and foreign direct investment that saw its economic potential . 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. Israeli firms explore business opportunities in Vietnam Ho Chi Minh City partners with Israeli firms to improve business climate. Vietnam and Republic of Korea. The second lists top trade partners of Vietnam regarding import total (buying). The structure of bilateral trade, however, reveals Vietnam's substantial dependence on China. Learn more about how Statista can support your business. Hong Kong with US$9.5 billion (accounting for 2% ). 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 . Vietnam Trade Office in Laos acts as bridge. 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 . Vietnam was the United States' 6th largest supplier of goods imports in 2020. Vietnam's Major Trade Partners. Market Value: 47,430 (millions) Last Updated: June, 2019, Market Value: 57,883 (millions) Last Updated: June, 2019. Call us: (301)763-2311 or 1-800-549-0595 option 4 Photo: Thanh Tuan. This entry was posted in NEWS GENERAL, GOVERNMENT NEWS. 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. Please note: The data from various sources are not from the same year. 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. 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. Show publisher information Australia's total two-way trade with Vietnam in 2021 was valued at $16.7 billion. Intimex Corporation. ", 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. U.S. foreign direct investment (FDI) in Vietnam (stock) was $2.8 billion in 2020, a 2.2 percent decrease from 2019. 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 %). European Commission. Currently, you are using a shared account. Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. Vietnam Exports By Country - was last updated on Sunday, November 6, 2022. U.S. goods and services trade with Vietnam totaled an estimated $92.2 billion in 2020. Vietnam Exports and Imports of Product Groups 2020 Japan is also one of the four markets to which Vietnam's export turnover exceeded the US$10 billion benchmark. Together with the ASEAN countries, Vietnam has also signed trade pacts with PRC, the Republic of Korea, Australia and New Zealand, India, Chile and Japan. India with US$10.7 billion (accounting for 2.2%). U.S. exports of services to Vietnam were an estimated $2.2 billion in 2020, 18.1 percent ($482 million) less than 2019, but 79 percent greater than 2010 levels. 885 Datasets North America United States 6m companies Asia India 494k companies Vietnam 479k companies Europe Russia Vietnam Sourcing Fairs and Trade Shows. While full of economic insight, the summit . Data on Vietnam's FDI in the U.S. are not available. May 10, 2022. 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). ($23.2B), Hong Kong ($11.8B), and Vietnam ($11.2B). It signed a bilateral trade agreement with Korea in 2015, as well as a trade agreement with the Russian-led Customs Union block. Overseas Project Manager 4. Sales of services in Vietnam by majority U.S.-owned affiliates were $860 million in 2018 (latest data available). In 2020, Thailand was the world's biggest exporter of Rubber . Access to this and all other statistics on 80,000 topics from, Show sources information Trade Partner Events 2020. 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. Date of issue: 05/10/2020Reference period: 9/2020. Main import trade partners of Vietnam in 2021, by trade value (in billion euros) [Graph]. The office is preparing for the Vietnam-Laos Trade Fair slated for November 3-7 . As your trusted India trading partner and Vietnam trading partner, we offer the following: 1. 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 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), To use individual functions (e.g., mark statistics as favourites, set 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 . Which is what makes the 30% increase in 2019 all the more impressive. Are you interested in testing our corporate solutions? Third Party Full Day Inspection 5. As a Premium user you get access to background information and details about the release of this statistic. The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. 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). 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). The other large business, Petrovietnam Gas is part of the following list of Vietnamese international trade businesses. Industry-specific and extensively researched technical data (partially from exclusive partnerships).
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