Vietnam is
the Southeast Asian economy of the Indochinese peninsula. It has 1900 miles of
coastline which giving it a gainful edge for port infrastructure. There are around
320 major import export ports in Vietnam which are increasingly serving an
important role in global trade. Vietnam's container traffic has grown by three
percent on year by year bases. One of the primary reasons for the growth is the
free trade agreements Vietnam has signed with the United States and European
Union in 2016. It is also a member of an active ASEAN trade bloc.
With the high number of supply value chain shift to Vietnam,
shipping demands are increasing in the country.
The major import ports
of Vietnam include Hai Phong, Da Nong, Qui Nhon, and Ho Chi Minh City. The
Vietnam Port Association (VPA) provides the updated Vietnam ports data.
The Vietnam import port data revealed the top imports that are integrated circuits
($15.6B), telephones ($10.2B), refined petroleum ($7.23B), electrical parts
($4.69B) and light rubberized knitted fabric ($4.51B). Vietnam’s top import origins are
China ($70.6B), South Korea ($47.7B), Japan ($13.1B), Singapore ($11.8B) and
Hong Kong ($10.1B). Its total imports estimate was $255.8B in 2018.
The data from the major
export ports in Vietnam showed that in 2018 Vietnam exported $244.72B
making it the 21st largest exporter in the world. Its exports
recorded $24.2B in October 2019. Some of the major exports of Vietnam are
broadcasting equipment ($30.7B), telephones ($14.9B), integrated circuits
($14.6B), textile footwear ($9.5B), etc. Vietnam export ports data highlighted the top export
destinations of Vietnam; the United States ($46.2B), China ($39.9B), Japan
($18.1B), South Korea ($16.1B) and Germany ($10.9B).
Vietnam trade data
whether export or import data is crucial for anyone keen in trading with this
Southeast Asian economy. The information about the major imports exports in Vietnam will make the traders understand
the current trade conditions and regulations of Vietnam. Altogether the traders
require a conducive trade environment for the enhancement of their trade
business.
Nowadays, the Vietnamese government is eagerly working on the
development of the ports' infrastructure. Two new container terminals are
planned to be built at Hai Pong Port followed by the Lach Huyen International
Gateway Port which is currently under construction.
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