2023
Flag  
GDP
$430BCURRENT US$
Rnk 34 / 195
2013-2023
Flag
GDP GROWTH
101%CURRENT US$
Rnk 13 / 195
2023
Flag
 GDP
$1.73TCURRENT US$
Rnk 13 / 195
2013-2023
Flag
GDP GROWTH
9.57%CURRENT US$
Rnk 156 / 195
2023
Flag
GDP PC 
$4,282CURRENT US$
Rnk 128 / 195
2013-2023
Flag
GDP PC GROWTH
81.5%CURRENT US$
Rnk 15 / 195
2023
Flag
GDP PC
$64,821CURRENT US$
Rnk 16 / 196
2013-2023
Flag
GDP PC GROWTH
-4.94%CURRENT US$
Rnk 159 / 195

About

Vietnam-Australia Trade: In 2023, Vietnam exported $6.56B to Australia. The main products that Vietnam exported to Australia were Broadcasting Equipment ($1.14B), Crude Petroleum ($698M), and Video Displays ($372M). Over the past 5 years the exports of Vietnam to Australia have increased at an annualized rate of 7.39%, from $4.59B in 2018 to $6.56B in 2023.

In 2023, Vietnam did not export any services to Australia.

Australia-Vietnam Trade: In 2023, Australia exported $7.82B to Vietnam. The main products that Australia exported to Vietnam were Coal Briquettes ($2.93B), Raw Cotton ($1.05B), and Wheat ($899M). Over the past 5 years the exports of Australia to Vietnam have increased at an annualized rate of 14.9%,  from $3.91B in 2018 to $7.82B in 2023.

In 2009, Australia exported services to Vietnam worth $605M, with Travel ($561M), Other business services ($31.7M), and Transportation ($3.96M) being the largest in terms of value.

Comparison: In 2023,  Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). That same year, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Vietnam exported $6.56B to Australia. The main products exported from Vietnam to Australia were Broadcasting Equipment ($1.14B), Crude Petroleum ($698M), and Video Displays ($372M). During the last 5 years the exports of Vietnam to Australia have increased at an annualized rate of 7.39%, from $4.59B in 2018 to $6.56B in 2023.

In 2018, Australia exported $7.82B to Vietnam. The main products exported from Australia to Vietnam were Coal Briquettes ($2.93B), Raw Cotton ($1.05B), and Wheat ($899M). During the last 5 years the exports of Australia to Vietnam have increased at an annualized rate of 14.9%, from $3.91B in 2023 to $7.82B in 2018.

Exports from Vietnam (Flag) to Australia (Flag) (2023)

Exports from Australia (Flag) to Vietnam (Flag) (2023)

Latest Data

Trade between Vietnam (Flag) and Australia (Flag)

Australia Exports

Market Competitiveness

Color
Vietnam
Top Destination
United States$118B
Australia
Top Destination
China$137B

This map shows whether countries import more from Vietnam or Australia. Each country is colored based on the difference in imports they receive from Vietnam and Australia or the difference in the growth in imports.

In 2023, countries that imported more from Vietnam than Australia included United States ($118B), Hong Kong ($17.1B), and Germany ($14.1B).

In 2023, countries that imported more from Australia than Vietnam included China ($137B), Japan ($59B), and South Korea ($20.9B).

Difference in imports from Australia (Flag) and Vietnam (Flag) (2023)

Comparative Advantage Vietnam - Australia

Flow
Scale

This chart compares trade between Vietnam and Australia by product, considering products traded by both, Vietnam and Australia.

During 2023, Vietnam had a large net trade with Australia in the exports of Machines ($2.6B), Mineral Products ($753M), and Textiles ($624M).

During 2018, Australia had a large net trade with Vietnam in the exports of Mineral Products ($3.76B), Vegetable Products ($1.41B), and Textiles ($1.06B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Vietnam Australia+$229MTelephones
Top Product Potential Australia Vietnam+$32.9MIron Ore

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Vietnam and Australia. This means that a dot/product with the flag of Vietnam indicates it has a comparative advantage over Australia. Similarly, a dot/product with the flag of Australia indicates it has a comparative advantage over Vietnam.

Product Space of Vietnam (Flag) and Australia (Flag) (2023)

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