2022
Exports
$2.48MWorld Rnk 41 / 100
Flag Rnk 831 / 1176
2022
PRODUCT COMPLEXITY IN Magnesium
0.95Rnk 193 / 1025
2022
Imports
$32.6MWorld Rnk 30 / 168
Flag Rnk 638 / 1208
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $2.48M in Magnesium, making it the 41st largest exporter of Magnesium in the world. At the same year, Magnesium was the 831st most exported product in Vietnam. The main destination of Magnesium exports from Vietnam are: United States ($761k), China ($694k), Thailand ($466k), South Korea ($250k), and Japan ($166k).

The fastest growing export markets for Magnesium of Vietnam between 2021 and 2022 were United States ($760k), China ($366k), and South Korea ($162k).

Imports In 2022, Vietnam imported $32.6M in Magnesium, becoming the 30th largest importer of Magnesium in the world. At the same year, Magnesium was the 638th most imported product in Vietnam. Vietnam imports Magnesium primarily from: China ($28.9M), Thailand ($1.41M), Chinese Taipei ($932k), South Korea ($649k), and Japan ($401k).

The fastest growing import markets in Magnesium for Vietnam between 2021 and 2022 were China ($14.2M), Chinese Taipei ($323k), and Brazil ($161k).

Latest Trends

Oct 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 Magnesium. 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)$2.48M
IMPORTS (2022)$32.6M
NET TRADE (2022)-$30.1M

In 2022, Vietnam exported $2.48M in Magnesium. The main destinations of Vietnam exports on Magnesium were United States ($761k), China ($694k), Thailand ($466k), South Korea ($250k), and Japan ($166k).

In 2022, Vietnam imported $32.6M in Magnesium, mainly from China ($28.9M), Thailand ($1.41M), Chinese Taipei ($932k), South Korea ($649k), and Japan ($401k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Magnesium EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
United States$760k (83.9k%)
China$366k (112%)
South Korea$162k (185%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Magnesium BY Vietnam WERE (2021 - 2022):
Thailand-$288k (-38.1%)
Hong Kong-$2.81k (-47.5%)
Russia-$136 (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Magnesium were:
China $2.46B
In 2022, Vietnam's main importing competitors in Magnesium were:

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Trade Value of Magnesium by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $679k
TOP IMPORT POTENTIALChina+ $12.1M

Magnesium’s highest export potential is United States. With an export gap of $679k.   Magnesium’s highest import potential is China with an import gap of $12.1M.

See methodology.

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