Vietnam (VNM) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Vietnam-Russia Trade: In 2022, Vietnam exported $1.56B to Russia. The main products that Vietnam exported to Russia were Coffee ($199M), Broadcasting Equipment ($172M), and Fish Fillets ($64.7M). Over the past 5 years the exports of Vietnam to Russia have decreased at an annualized rate of 10.8%, from $2.77B in 2017 to $1.56B in 2022.

In 2022, Vietnam did not export any services to Russia.

Russia-Vietnam Trade: In 2022, Russia exported $1.76B to Vietnam. The main products that Russia exported to Vietnam were Coal Briquettes ($473M), Hot-Rolled Iron ($198M), and Mixed Mineral or Chemical Fertilizers ($157M). Over the past 5 years the exports of Russia to Vietnam have increased at an annualized rate of 1.83%, from $1.61B in 2017 to $1.76B in 2022.

In 2020, Russia exported services to Vietnam worth $111M, with Travel ($46.1M), Transportation ($38.4M), and Other business services ($18M) being the largest in terms of value.

Comparison: In 2022, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Vietnam exported $1.56B to Russia. The main products exported from Vietnam to Russia were Coffee ($199M), Broadcasting Equipment ($172M), and Fish Fillets ($64.7M). During the last 5 years the exports of Vietnam to Russia have decreased at an annualized rate of 10.8%, from $2.77B in 2017 to $1.56B in 2022.

In 2017, Russia exported $1.76B to Vietnam. The main products exported from Russia to Vietnam were Coal Briquettes ($473M), Hot-Rolled Iron ($198M), and Mixed Mineral or Chemical Fertilizers ($157M). During the last 5 years the exports of Russia to Vietnam have increased at an annualized rate of 1.83%, from $1.61B in 2022 to $1.76B in 2017.

Exports from Vietnam () to Russia () (2022)

Exports from Russia () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Russia ()

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$117B

Russia
Top DestinationChina$101B

This map shows whether countries import more from Vietnam or Russia. Each country is colored based on the difference in imports they receive from Vietnam and Russia or the difference in the growth in imports.

In 2022, countries that imported more from Vietnam than Russia included United States ($117B), South Korea ($25.2B), and Japan ($25B).

In 2022, countries that imported more from Russia than Vietnam included China ($101B), India ($40.4B), and Turkey ($25.3B).

Difference in imports from Russia () and Vietnam () (2022)

Comparative Advantage Vietnam - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Vietnam and Russia by product, considering products traded by both, Vietnam and Russia.

During 2022, Vietnam had a large net trade with Russia in the exports of Machines ($368M), Vegetable Products ($304M), and Textiles ($244M).

During 2017, Russia had a large net trade with Vietnam in the exports of Mineral Products ($565M), Metals ($299M), and Chemical Products ($270M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Russia+$248MTelephones

Top Product Potential Russia Vietnam+$148MCoal Briquettes

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Vietnam worth $111M, with Travel ($46.1M), Transportation ($38.4M), and Other business services ($18M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Vietnam () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Vietnam and Russia. This means that a dot/product with the flag of Vietnam indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Vietnam.

About

Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Russia () (2022)

Exports from Russia () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Russia ()

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Vietnam () (2022)

Comparative Advantage Vietnam - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Vietnam () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Vietnam () and Russia () (2022)

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