Flag Vietnam

2019
Economic
Complexity
: 0.11, Rank 67 of 157

2019
Product
Exports | Imports
: $280B | $263B, 20 of 225 |  20 of 225

2019
Per Capita Product
Exports | Imports
: $2.91k | $2.73k, 80 of 219 |  106 of 219

2019
Service
Exports | Imports
: $16.6B | $18.3B, 1 of 1 | 1 of 1

Overview: In 2019 Vietnam was the number 44 economy in the world in terms of GDP (current US$), the number 20 in total exports, the number 20 in total imports, the number 134 economy in terms of GDP per capita (current US$) and the number 67 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Vietnam are Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B), exporting mostly to United States ($63.7B), China ($40.3B), Japan ($21.2B), South Korea ($20.3B), and Germany ($8.22B).

In 2019, Vietnam was the world's biggest exporter of Coconuts, Brazil Nuts, and Cashews ($3.16B), Fuel Wood ($2.05B), Cement ($1.39B), Metal-Clad Products ($1.37B), and Cinnamon ($175M)

Imports: The top imports of Vietnam are Integrated Circuits ($27.1B), Telephones ($13.7B), Refined Petroleum ($6.92B), Light Rubberized Knitted Fabric ($5.3B), and Semiconductor Devices ($4.38B), importing mostly from China ($91.1B), South Korea ($47.8B), Japan ($16.3B), Thailand ($11.8B), and Chinese Taipei ($11.4B).

In 2019, Vietnam was the world's biggest importer of Light Rubberized Knitted Fabric ($5.3B), Synthetic Filament Yarn Woven Fabric ($2.24B), Coconuts, Brazil Nuts, and Cashews ($1.66B), Soybean Meal ($1.53B), Plastic Coated Textile Fabric ($1.19B)

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

Yearly Exports

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Value
Depth

Top Export (2019): Broadcasting Equipment, $42.3B

Top Destination (2019): United States, $63.7B

In 2019, Vietnam exported a total of $280B, making it the number 20 exporter in the world. During the last five reported years the exports of Vietnam have changed by $123B from $158B in 2014 to $280B in 2019.

The most recent exports are led by Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B). The most common destination for the exports of Vietnam are United States ($63.7B), China ($40.3B), Japan ($21.2B), South Korea ($20.3B), and Germany ($8.22B).

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Yearly Imports

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Value
Depth

Top Import (2019): Integrated Circuits, $27.1B

Top Origin (2019): China, $91.1B

In 2019 Vietnam imported $263B, making it the number 20 trade destination in the world. During the last five reported years the imports of Vietnam changed by $95.2B from $168B in 2014 to $263B in 2019.

The most recent imports of Vietnam are led by Integrated Circuits ($27.1B), Telephones ($13.7B), Refined Petroleum ($6.92B), Light Rubberized Knitted Fabric ($5.3B), and Semiconductor Devices ($4.38B). The most common import partners for Vietnam are China ($91.1B), South Korea ($47.8B), Japan ($16.3B), Thailand ($11.8B), and Chinese Taipei ($11.4B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

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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Scale

During the last 20 years Vietnam's⁩ ⁨economy has become relatively mÑs complex, moving from the ⁩⁨121st to the 67th⁩ 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 Metal-Clad Products (40.3), Coconuts, Brazil Nuts, and Cashews (22.6), Textile Footwear (15.3), Cinnamon (15.1), and Non-Retail Mixed Cotton Yarn (13.6). 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 (1.78), Liquid crystal devices, lasers, optical appliances nes (1.66), Parts, accessories, except covers, for office machines (1.56), Electro and permanent magnets, equipment using magnets (1.55), and Mounted lenses, prisms, mirrors, optical elements nes (1.55). 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 Fake Hair (0.33), Nutmeg, mace and cardamons (0.32), Other Knit Clothing Accessories (0.32), Coconut Oil (0.31), and Jute Woven Fabric (0.31). 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.