2022
Exports
$41.7MWorld Rnk 26 / 165
Flag Rnk 430 / 1176
2022
PRODUCT COMPLEXITY IN Forging Machines
1.5Rnk 53 / 1025
2022
Imports
$372MWorld Rnk 5 / 211
Flag Rnk 172 / 1208
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $41.7M in Forging Machines, making it the 26th largest exporter of Forging Machines in the world. At the same year, Forging Machines was the 430th most exported product in Vietnam. The main destination of Forging Machines exports from Vietnam are: Thailand ($13.5M), United States ($5.62M), Indonesia ($4.78M), Burma ($2.76M), and India ($1.54M).

The fastest growing export markets for Forging Machines of Vietnam between 2021 and 2022 were United States ($2.93M), Thailand ($2.09M), and Burma ($1.73M).

Imports In 2022, Vietnam imported $372M in Forging Machines, becoming the 5th largest importer of Forging Machines in the world. At the same year, Forging Machines was the 172nd most imported product in Vietnam. Vietnam imports Forging Machines primarily from: China ($236M), South Korea ($47.4M), Japan ($29M), Chinese Taipei ($28.8M), and India ($7.33M).

The fastest growing import markets in Forging Machines for Vietnam between 2021 and 2022 were China ($119M), South Korea ($7.41M), and India ($6.9M).

COMPANIES In 2023, leading companies such as CITY Furniture (61), IKEA Group (36), and Sailun Tire (2) were at the forefront of shipping Forging Machines from Vietnam to the United States.

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Forging Machines. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$41.7M
IMPORTS (2022)$372M
NET TRADE (2022)-$330M

In 2022, Vietnam exported $41.7M in Forging Machines. The main destinations of Vietnam exports on Forging Machines were Thailand ($13.5M), United States ($5.62M), Indonesia ($4.78M), Burma ($2.76M), and India ($1.54M).

In 2022, Vietnam imported $372M in Forging Machines, mainly from China ($236M), South Korea ($47.4M), Japan ($29M), Chinese Taipei ($28.8M), and India ($7.33M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Forging Machines EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
United States$2.93M (109%)
Thailand$2.09M (18.4%)
Burma$1.73M (167%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forging Machines BY Vietnam WERE (2021 - 2022):
Hungary-$3.42M (-100%)
Sri Lanka-$785k (-79.5%)
Philippines-$722k (-91.3%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Forging Machines were:
China $1.72B
Italy $1.2B
Germany $1.02B
In 2022, Vietnam's main importing competitors in Forging Machines were:

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Trade Value of Forging Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $3.48M
TOP IMPORT POTENTIALChina+ $14.5M

Forging Machines’s highest export potential is United States. With an export gap of $3.48M.   Forging Machines’s highest import potential is China with an import gap of $14.5M.

See methodology.

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