Vietnam’s Booming Trade: Top Imports and Exports in 2024

Vietnam attracts people from around the world due to its fascinating history and diverse culture. As a neighboring country of China, Vietnam stands out with agriculture being the major employer for more than 60 percent of its population. Notably, Vietnam is the second largest Southeast Asian country in terms of agricultural exports, with key products including rice, coffee, rubber, tea, vegetables, and black pepper. On the import side, Vietnam’s major imports include accessories, instruments, and machines, which constitute around 16% of its total imports. In this blog, we will explore the top 10 import and export products from Vietnam, providing the most accurate and updated Vietnam export data, import data, customs data, and HS codes.

The Growing Vietnamese Economy

Vietnam’s economy has been experiencing significant growth. It is the 35th largest economy in terms of nominal GDP and the 24th largest by purchasing power parity (PPP). According to Luc, an economist with Vietnam’s Bank for Investment and Development, the country is on track to meet its GDP growth target of 6.0% to 6.5% this year. However, the economy faces external risks such as geopolitical conflicts, terrorism, shipping interruptions in the Red Sea, and climate change. The government needs to improve the business environment and address issues in the real estate and corporate bond markets to sustain growth.

Vietnam Export-Import Data: 2023–24

According to the General Statistics Office (GSO), Vietnam’s foreign trade has shown signs of recovery in the first four months of 2024, after a significant decline in 2023. Here is a comparison of trade data between the end of 2023 and the beginning of 2024:

Trade Stats 2024 (January to April) Total Trade $238.88 billion, $123.64 billion Vietnam Export Data, Vietnam Import Data $115.24 billion.

Trade Stats 2023 (October to December) Total Trade $29.31 billion, Vietnam Export Data $32.31 billion Vietnam Import Data $102.50 billion

Between January and April 2024 Vietnam export import data, total trade reached $238.88 billion, up 15.2% year on year. Exports totaled $123.64 billion (up 15%), while imports were $115.24 billion (up 15.4%). This resulted in a trade surplus of $8.4 billion. Despite a 6.6% decline in total foreign trade in 2023, with exports down 4.4% and imports down 8.9%, the high growth rates in early 2024 indicate a strong recovery.

Top 10 Vietnam Import Products (2024)

Vietnam imports a variety of semi-finished and finished products to meet its domestic requirements. Here are the top import products:

1. Integrated Circuits
2. Broadcasting Equipment
3. Refined Petroleum, Coal, and Other Fuels
4. Phones and Components
5. Footwear
6. Completely Built-Up Cars
7. Computers, Electronic Products, and Other Components
8. Iron and Steel
9. Wheat, Corn, Soybeans, and Animal Feed
10. Cotton, Textile Fibers, Fabrics, and Raw Materials for the Garment and Shoe Industry

Top 10 Vietnam Export Products (2024)

Vietnam exports a variety of semi-finished and finished products to various countries. Here are the top export products:

1. Phones and Accessories
2. Computers and Electronic Products
3. Machinery and Equipment
4. Textiles and Garments
5. Footwear
6. Wood and Wooden Products
7. Vehicles and Spare Parts
8. Seafood and Fishery Products
9. Iron and Steel
10. Cameras, Camcorders, and Accessories

Understanding Vietnam’s top import and export products provides significant insights into the country’s economic strength and its role in the global supply chain. For the most accurate Vietnam export data, import data, Vietnam trade data, and HS codes, connect with Seair Exim Solutions today.

Finding Vietnam Customs Data for Import and Export

To access the most updated and accurate Vietnam customs data, visit Seair Exim Solutions’ data-driven dashboard. Our platform provides comprehensive Vietnam export data, import data, Vietnam import data by HS code, and a list of Vietnamese exporters and importers. Seair Exim is a leading data-driven tool for analyzing global shipments, offering a database from over 100 countries to help you easily access global trade statistics.

Final Thoughts

Vietnam is home to world-leading brands like HP and Samsung, with Samsung alone accounting for more than 20% of total mobile exports worldwide. As a production-intensive country, Vietnam imports mostly raw materials and components to manufacture finished products, which it then exports. Its main trading partners include China, the United States, South Korea, Europe, and Japan. As an emerging economy, Vietnam has the potential for high future growth.

If you have any queries about top Vietnam imports and exports, our data experts are here to assist you with real-time data. With our Vietnam export-import data, traders can easily find buyers and suppliers for trading. Our data also provides valuable insights into the products you want to trade.