Flag Vietnam

Econ Complexity (2018): -0.28, Rank 81 of 137

Product Exports (2018): $274B, Rank 19 of 222

Exports Per Capita (2018): $2.86k, Rank 74 of 219

Product Imports (2018): $253B, Rank 20 of 221

Imports Per Capita (2018): $2.65k, Rank 77 of 219

Service Exports (2019): $16.6B, Rank 1 of 1

Service Imports (2019): $18.3B, Rank 1 of 1

GDP (2018): $245B, CURRENT US$
Rank 45 of 196

GDP growth (2008 - 2018): 147%, CURRENT US$
Rank 10 of 196

GDP PC (2018): $2,567, CURRENT US$
Rank 141 of 196

GDP PC GROWTH (2008 - 2018): 123%, CURRENT US$
Rank 8 of 196

Overview: This page contains the latest international trade data for Vietnam, including service trade data, and tariffs. In 2018 Vietnam was the number 45 economy in the world in terms of GDP (current US$), the number 19 in total exports, the number 20 in total imports, and the number 81 most complex economy according to the Economic Complexity Index (ECI). In 2018, Vietnam exported $274B and imported $253B, resulting in a positive trade balance of $20.4B. In 2018, Vietnam's exports per capita were $2.86k and its imports per capita were $2.65k.

Trade: The top exports of Vietnam are Broadcasting Equipment ($42.8B), Telephones ($23.1B), Integrated Circuits ($16B), Textile Footwear ($11.4B), and Broadcasting Accessories ($8.81B). The top imports of Vietnam are Integrated Circuits ($23B), Telephones ($10.8B), Refined Petroleum ($8.56B), Light Rubberized Knitted Fabric ($5.79B), and Electrical Parts ($4.28B).

Destinations: Vietnam exports mostly to China ($53.8B), United States ($49.5B), Japan ($20.3B), South Korea ($19.4B), and Germany ($11.2B), and imports mostly from China ($83.3B), South Korea ($48.6B), Japan ($15.6B), Thailand ($13B), and Singapore ($11.8B).

Location: Vietnam borders Cambodia, China, and Laos by land and Indonesia, Malaysia, Philippines, and Thailand by sea.

Yearly Exports

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Top Export (2018): Broadcasting Equipment, $42.8B

Top Destination (2018): China, $53.8B

In 2018 Vietnam exported a total of $274B, making it the number 19 exporter in the world. During the last five reported years the exports of Vietnam have changed by $125B from $149B in 2013 to $274B in 2018.

The most recent exports are led by Broadcasting Equipment ($42.8B), Telephones ($23.1B), Integrated Circuits ($16B), Textile Footwear ($11.4B), and Broadcasting Accessories ($8.81B). The most common destination for the exports of Vietnam are China ($53.8B), United States ($49.5B), Japan ($20.3B), South Korea ($19.4B), and Germany ($11.2B).

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Yearly Imports

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Top Import (2018): Integrated Circuits, $23B

Top Origin (2018): China, $83.3B

In 2018 Vietnam imported $253B, making it the number 20 trade destination in the world. During the last five reported years the imports of Vietnam changed by $116B from $137B in 2013 to $253B in 2018.

The most recent imports of Vietnam are led by Integrated Circuits ($23B), Telephones ($10.8B), Refined Petroleum ($8.56B), Light Rubberized Knitted Fabric ($5.79B), and Electrical Parts ($4.28B). The most common import partners for Vietnam are China ($83.3B), South Korea ($48.6B), Japan ($15.6B), Thailand ($13B), and Singapore ($11.8B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Vietnam Exports Services (2019): $16.6B

Vietnam Imports Services (2019): $18.3B

In 2019, Vietnam exported $16.6B worth of services. The top services exported by Vietnam in 2019 were Travel ($11.8B), Air transport ($2.36B), Sea transport ($831M), Miscellaneous business, professional, and technical services ($646M), and Financial services ($210M).

The top services imported by Vietnam in 2019 were Sea transport ($7.17B), Travel ($6.15B), Construction services ($1.18B), Air transport ($1.1B), and Insurance services ($712M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Vietnam. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Vietnam are Cigarettes containing tobacco (135%) and Cigars, cheroots, cigarettes, with tobacco substitute (135%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Vietnam are:
1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area
52: ASEAN Japan Free Trade Area (ASEAN) Association of Southeast Asian Nations
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
120: Customs Union of the member states of the Eurasian Economic Union: Belarus, Kazakhstan and Russia, enlarged in 2015 to include Armenia and Kyrgyzstan
136: Most Favoured Nation duty rate treatement
139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement
182: Preferential tariff for Chile
184: Preferential tariff for China
239: Preferential tariff for India
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
391: Vietnam Preferences for ASEAN for the republic of Korea

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Vietnam's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨87th to the 81st⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Vietnam has a high level of specialization in Coconuts, Brazil Nuts, and Cashews (21.5), Textile Footwear (17), Non-Retail Mixed Cotton Yarn (13.8), Pepper (12.8), and Telephones (11.8). Specialization is measured using RCA, an index that takes the ratio between Vietnam observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Vietnam according to the product complexity index (PCI) are Cast, drawn or float glass sheet, edge worked or bent (1.62), Mounted lenses, prisms, mirrors, optical elements nes (1.37), Electronic integrated circuits and microassemblies (1.33), Wire of alloy steel except stainless steel (1.26), and Parts, accessories, except covers, for office machines (1.14). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Vietnam according to the relatedness index, are Rubber Thread (0.26), Other Knit Clothing Accessories (0.26), House Linens (0.26), Nutmeg, mace and cardamons (0.26), and Insect Resins (0.25). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Vietnam is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.