About

Overview In 2021, Vietnam was the number 40 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 19 in total imports, the number 140 economy in terms of GDP per capita (current US$) and the number 58 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Vietnam are Broadcasting Equipment ($51.1B), Telephones ($25.3B), Integrated Circuits ($18.2B), Office Machine Parts ($11.7B), and Textile Footwear ($9.79B), exporting mostly to United States ($99.3B), China ($57.8B), South Korea ($22.6B), Japan ($21.3B), and Hong Kong ($12.5B).

In 2021, Vietnam was the world's biggest exporter of Coconuts, Brazil Nuts, and Cashews ($3.37B), Fuel Wood ($2.31B), Cement ($1.91B), Non-Retail Mixed Cotton Yarn ($512M), and Cinnamon ($270M)

Imports The top imports of Vietnam are Integrated Circuits ($39.8B), Telephones ($20.7B), Light Rubberized Knitted Fabric ($6.29B), Broadcasting Accessories ($5.38B), and Refined Petroleum ($4.76B), importing mostly from China ($129B), South Korea ($56.5B), Japan ($18.2B), Chinese Taipei ($14.8B), and Thailand ($12.5B).

In 2021, Vietnam was the world's biggest importer of Light Rubberized Knitted Fabric ($6.29B), Synthetic Filament Yarn Woven Fabric ($2.51B), Coconuts, Brazil Nuts, and Cashews ($1.8B), Plastic Coated Textile Fabric ($1.33B), and Footwear Parts ($1.22B)

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

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Vietnam.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Broadcasting Equipment$51.1B
Top Destination (2021)United States$99.3B

In 2021, Vietnam exported a total of $356B, making it the number 18 exporter in the world. During the last five reported years the exports of Vietnam have changed by $169B from $187B in 2016 to $356B in 2021.

The most recent exports are led by Broadcasting Equipment ($51.1B), Telephones ($25.3B), Integrated Circuits ($18.2B), Office Machine Parts ($11.7B), and Textile Footwear ($9.79B). The most common destination for the exports of Vietnam are United States ($99.3B), China ($57.8B), South Korea ($22.6B), Japan ($21.3B), and Hong Kong ($12.5B).

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Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
United States$22.4B (+ 29.2%)
China$7.98B (+ 16%)
South Korea$2.91B (+ 14.8%)
Fastest Growing Import Markets (2020 - 2021)
China$23.7B (+ 22.6%)
South Korea$8.51B (+ 17.7%)
Malaysia$3.39B (+ 46.6%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)0.1Rank 58 of 131
Economic Complexity (Technology)0.13Rank 47 of 96
Economic Complexity (Research)-0.25Rank 81 of 140

Most Specialized Products by RCA Index

Vietnam has a high level of specialization in Coconuts, Brazil Nuts, and Cashews (20.1), Cinnamon (17.2), Non-Retail Mixed Cotton Yarn (15), Textile Footwear (13.6), and Polyamide Fabric (12.5). 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

The highest complexity exports of Vietnam according to the product complexity index (PCI) are Drawing, marking-out, mathematical calculating instruments (drafting machines, protractors, drawing sets etc); instruments... (1.69), Lenses, prisms, mirrors and other optical elements, of any material, mounted, being... (1.47), Knives and cutting blades, for machines or for mechanical appliances (1.46), Electronic integrated circuits (1.45), and Stainless steel wire (1.37). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Vietnam according to the relatedness index, were Fake Hair (0.33), Nutmeg, mace and cardamons (0.32), Party Decorations (0.32), Combs (0.32), and House Linens (0.32). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Vietnam is not specialized in.

Product Space

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Vietnam. These are products that tend to be co-exported with the products that Vietnam exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Vietnam's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨83rd to the 58th⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

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