2022
Exports
$3.73BWorld Rnk 8 / 223
Flag Rnk 19 / 1176
2022
PRODUCT COMPLEXITY IN Electrical Transformers
0.65Rnk 294 / 1025
2022
Imports
$2.43BWorld Rnk 17 / 225
Flag Rnk 25 / 1208
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $3.73B in Electrical Transformers, making it the 8th largest exporter of Electrical Transformers in the world. At the same year, Electrical Transformers was the 19th most exported product in Vietnam. The main destination of Electrical Transformers exports from Vietnam are: United States ($1.55B), China ($293M), Hong Kong ($183M), South Korea ($158M), and Mexico ($127M).

The fastest growing export markets for Electrical Transformers of Vietnam between 2021 and 2022 were Australia ($41M), Mexico ($35.6M), and Thailand ($34.5M).

Imports In 2022, Vietnam imported $2.43B in Electrical Transformers, becoming the 17th largest importer of Electrical Transformers in the world. At the same year, Electrical Transformers was the 25th most imported product in Vietnam. Vietnam imports Electrical Transformers primarily from: China ($1.71B), South Korea ($253M), Philippines ($111M), Singapore ($66.1M), and Japan ($61.8M).

The fastest growing import markets in Electrical Transformers for Vietnam between 2021 and 2022 were China ($224M), South Korea ($36.1M), and Singapore ($16.3M).

COMPANIES In 2023, leading companies such as Tesla (182), Samsung (34), and Stanley Black & Decker (31) were at the forefront of shipping Electrical Transformers from Vietnam to the United States.

Latest Trends

Jul 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Electrical Transformers. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.73B
IMPORTS (2022)$2.43B
NET TRADE (2022)$1.3B

In 2022, Vietnam exported $3.73B in Electrical Transformers. The main destinations of Vietnam exports on Electrical Transformers were United States ($1.55B), China ($293M), Hong Kong ($183M), South Korea ($158M), and Mexico ($127M).

In 2022, Vietnam imported $2.43B in Electrical Transformers, mainly from China ($1.71B), South Korea ($253M), Philippines ($111M), Singapore ($66.1M), and Japan ($61.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electrical Transformers EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
Australia$41M (138%)
Mexico$35.6M (38.8%)
Thailand$34.5M (89.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical Transformers BY Vietnam WERE (2021 - 2022):
United States-$234M (-13.1%)
Hong Kong-$26.2M (-12.5%)
Russia-$11.7M (-76.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Electrical Transformers were:
In 2022, Vietnam's main importing competitors in Electrical Transformers were:

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Trade Value of Electrical Transformers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $318M
TOP IMPORT POTENTIALChina+ $571M

Electrical Transformers’s highest export potential is China. With an export gap of $318M.   Electrical Transformers’s highest import potential is China with an import gap of $571M.

See methodology.

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