The foreign trade of Vietnam had been growing at a faster rate since 1990 when the state controls were relaxed. The country’s trade activities in imports include commodities like machinery, steel, and refined petroleum whereas the exports involved textiles, crude oil, footwear, and garments. According to 2019 data, the nation was ranked as the world’s 22nd largest exporter. With demographic holding inhabitants of nearly 95.5 million, the overall value of exports of the country could be equated to nearly US 3,200 for each citizen of this South-Asian country.
Vietnam Export Data
The country’s economy is ranked 44th in terms of GDP in current US$ value. On the other hand, it is 134th in terms of GDP per capita, according to the Economic Complexity Index. Similarly, the ECI also revealed that the country is in number 67 among the most complicated economy of 2019. Moreover, as it could be revealed from Vietnam export data, exports of the country had shown a decrease to USD 26 million in the month of May when compared to the value of April month 2021, which was around 26.55 USD billion.
However, the Vietnam export data mostly includes customs-related information and helps industries and companies to make certain informed decisions. In a word, the country’s trade data for export operations is a collection of information and statistics based on cargo that left the country via various modes of transportation.
All of this information that is based on Vietnam export data is collected from Vietnamese Port Authorities, Trade Associations, Government Bodies, Custom Departments, Shipping & Logistics Companies, and different other genuine and accurate authoritative links. These data statistics of international trade of goods represent proper information on shipping bills, invoices, and different other paperwork related to import-export activities done with the country.
Vietnam Customs Export Data
As per the Vietnam customs export data, in the second half of September 2020, the total Vietnam’s exports were US 14.49 billion dollars. Imports, on the other hand, were close to the US $12.44 billion, resulting in a trade surplus of US $2.05 billion. As a result, the entire amount of Vietnam’s import and export turnover in the second half of September might be calculated at over US 26.93 billion dollars. This when compared to the first half of the estimation done in September revealed to have increased by 10.8%. In terms of value, Vietnam’s trade in products reached $388.62 billion in the first nine months of 2020, up 1.7 percent from the previous year.
According to FDI (Foreign Direct Investment) traders, the total amount of exports and imports that are produced by Vietnam in the first nine months of 2020 was roughly USD 233.68 billion. This revealed that at the same time as the year 2019, this value had a downfall by 3.5 percent.
Howsoever, the Vietnam export data includes extensive information on shipping that allows different businesses and organizations around the world to have a better learning experience of these statistics. These help them to evaluate all the export activity with which the country is involved. From the Vietnam trade data, traders can acquire the shipping information that reveals details like:
- Name and Address of the Exporters
- Name and Address of the Importers
- HS Code
- Description of Product
- Quantity of Product exported or imported
- Name of Import Country
- Port of the Import Country
- Mode of Transportation and many other fields.
Organizations find a lot of benefits in collecting these Vietnamese export data which are like:
- They can easily evaluate the suppliers and buyers and helps them to have an insight into their activities.
- Can get sales prospects, growth opportunities along trending market situations.
- The businesses can also monitor their core competitors prevailing in these areas.
- Finally, enterprises can simply remain up to date with relevant import and export data, allowing them to study market developments and make conclusions.
Vietnam export data by HS code
Each of the commodities that are involved in trading activity has a unified HS code that helps to understand the product category to which it belongs. Thus the Vietnam export data by HS code is also categorized to identify the main exporting commodities that the country is involved with. As a result, the top exports performed by Vietnam in 2019 may be anticipated to be:
- Electrical Machinery & Equipment (36.7%),
- Footwear & Gaiters (7.1%),
- Not Knitted or Crocheted Apparel & Clothing (5.7%),
- Knitted or Crocheted Apparel & Clothing (5.6%),
- Machinery (4.9%),
- Mattresses, etc. (3.5%),
- Fish & Crustaceans (2.3%),
- Edible Fruits & Nuts (2.1%),
- Optical, Photographic, Medical Equipment (1.9%) and
- Plastics & Articles (1.8%).
Furthermore, according to the export data of Vietnam, these top export commodities may account for roughly 71.6 percent of the entire value of exports in 2019.
Not only that, but these export data also reveal the top export partners that the country has. The top export categories as per the custom statistics that had increased by 66.3 percent were:
- Signage, and
- Prefabricated structures.
On the other side, the biggest decliner among these top export categories had optical apparatus, technological apparatus, and medical apparatus. These commodities had been suffering from a 25.2 percent loss year over year as per the Vietnam trade figures.
These as per the records of 2019 were like:
- United States (US 61.4 billion dollars),
- China (US 41.3 billion dollars),
- Japan (US 20.4 billion dollars),
- South Korea (US 19.7 billion dollars),
- Hong Kong (US 7.1 billion dollars),
- Netherlands (US 6.8 billion dollars),
- India (US 6.6 billion dollars),
- Germany (US 6.5 billion dollars),
- United Kingdom (US 5.7 billion dollars) and
- Thailand (US 5.0 billion dollars).
According to Vietnam’s customs figures, the top exporting partners accounted for 68.5 percent of the country’s overall export value in 2019. Vietnam trade data provides real-time statistics percent from the year and information based on shipping records, which are essential for any business. Based on these statistics, nearly 54 percent of the country’s commodities were exported and supplied to the neighboring nations, while 22 percent of it transported to North America and 18.4 percent to European nations.