2023
Exports
$44.4BWorld Rnk 14 / 226
Flag Rnk 2 / 96
2023
PRODUCT COMPLEXITY IN Machinery, mechanical appliances, & parts
2.12Rnk 2 / 1025
2023
Imports
$26BWorld Rnk 29 / 226
Flag Rnk 2 / 96
2023
ECONOMIC COMPLEXITY of Vietnam
0.067Rnk 60 / 132

About

Exports In 2023, Vietnam exported $44.4B in Machinery, mechanical appliances, & parts, making it the 14th largest exporter of Machinery, mechanical appliances, & parts in the world. At the same year, Machinery, mechanical appliances, & parts was the 2nd most exported product in Vietnam. The main destination of Machinery, mechanical appliances, & parts exports from Vietnam are: United States ($16.6B), China ($7.86B), Hong Kong ($1.8B), Japan ($1.68B), and Netherlands ($1.61B).

The fastest growing export markets for Machinery, mechanical appliances, & parts of Vietnam between 2022 and 2023 were United States ($4.55B), China ($2.72B), and Canada ($533M).

Imports In 2023, Vietnam imported $26B in Machinery, mechanical appliances, & parts, becoming the 29th largest importer of Machinery, mechanical appliances, & parts in the world. At the same year, Machinery, mechanical appliances, & parts was the 2nd most imported product in Vietnam. Vietnam imports Machinery, mechanical appliances, & parts primarily from: China ($14.7B), Japan ($2.09B), Hong Kong ($1.41B), Thailand ($1.35B), and Singapore ($1.23B).

The fastest growing import markets in Machinery, mechanical appliances, & parts for Vietnam between 2022 and 2023 were China ($1.12B), Hong Kong ($852M), and Philippines ($480M).

COMPANIES In 2024, leading companies such as LG Electronics (2.35k), Nike (1.18k), and Samsung (830) were at the forefront of shipping Machinery, mechanical appliances, & parts from Vietnam to the United States.

Latest Trends

Dec 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 Machinery, mechanical appliances, & parts. 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 (2023)$44.4B
IMPORTS (2023)$26B
NET TRADE (2023)$18.5B

In 2023, Vietnam exported $44.4B in Machinery, mechanical appliances, & parts. The main destinations of Vietnam exports on Machinery, mechanical appliances, & parts were United States ($16.6B), China ($7.86B), Hong Kong ($1.8B), Japan ($1.68B), and Netherlands ($1.61B).

In 2023, Vietnam imported $26B in Machinery, mechanical appliances, & parts, mainly from China ($14.7B), Japan ($2.09B), Hong Kong ($1.41B), Thailand ($1.35B), and Singapore ($1.23B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Machinery, mechanical appliances, & parts EXPORT MARKETS FOR Vietnam WERE (2022 - 2023):
United States$4.55B (37.8%)
China$2.72B (53%)
Canada$533M (88.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machinery, mechanical appliances, & parts BY Vietnam WERE (2022 - 2023):
South Korea-$2.91B (-100%)
Hong Kong-$983M (-35.3%)
Malaysia-$158M (-28.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Vietnam's main exporting competitors in Machinery, mechanical appliances, & parts were:
In 2023, Vietnam's main importing competitors in Machinery, mechanical appliances, & parts were:

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Trade Value of Machinery, mechanical appliances, & parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $3.33B
TOP IMPORT POTENTIALChina+ $5.1B

Machinery, mechanical appliances, & parts’s highest export potential is China. With an export gap of $3.33B.   Machinery, mechanical appliances, & parts’s highest import potential is China with an import gap of $5.1B.

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