Vietnam (VNM) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Vietnam-Italy Trade: In 2023, Vietnam exported $4.79B to Italy. The main products that Vietnam exported to Italy were Broadcasting Equipment ($847M), Hot-Rolled Iron ($609M), and Coffee ($373M). Over the past 5 years the exports of Vietnam to Italy have increased at an annualized rate of 9.65%, from $3.02B in 2018 to $4.79B in 2023.

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

Italy-Vietnam Trade: In 2023, Italy exported $1.32B to Vietnam. The main products that Italy exported to Vietnam were Tanned Equine and Bovine Hides ($151M), Washing and Bottling Machines ($39.9M), and Packaged Medicaments ($39.7M). Over the past 5 years the exports of Italy to Vietnam have decreased at an annualized rate of 4.91%, from $1.7B in 2018 to $1.32B in 2023.

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

Comparison: In 2023, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Vietnam exported $4.79B to Italy. The main products exported from Vietnam to Italy were Broadcasting Equipment ($847M), Hot-Rolled Iron ($609M), and Coffee ($373M). During the last 5 years the exports of Vietnam to Italy have increased at an annualized rate of 9.65%, from $3.02B in 2018 to $4.79B in 2023.

In 2018, Italy exported $1.32B to Vietnam. The main products exported from Italy to Vietnam were Tanned Equine and Bovine Hides ($151M), Washing and Bottling Machines ($39.9M), and Packaged Medicaments ($39.7M). During the last 5 years the exports of Italy to Vietnam have decreased at an annualized rate of 4.91%, from $1.7B in 2023 to $1.32B in 2018.

Exports from Vietnam () to Italy () (2023)

Exports from Italy () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Italy ()

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$118B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Vietnam than Italy included China ($85.7B), United States ($118B), and Japan ($25.1B).

In 2023, countries that imported more from Italy than Vietnam included Germany ($71.4B), France ($61.1B), and Switzerland ($29.3B).

Difference in imports from Italy () and Vietnam () (2023)

Comparative Advantage Vietnam - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Vietnam had a large net trade with Italy in the exports of Machines ($1.45B), Metals ($1.19B), and Vegetable Products ($452M).

During 2018, Italy had a large net trade with Vietnam in the exports of Machines ($407M), Animal Hides ($202M), and Textiles ($154M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Italy+$404MTelephones

Top Product Potential Italy Vietnam+$57.3MPackaged Medicaments

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Italy () (2023)

Exports from Italy () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Italy ()

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Vietnam () (2023)

Comparative Advantage Vietnam - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Vietnam () and Italy () (2023)

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