Vietnam joined the world trade organization (WTO) in 2007, leading to the massive opening of its national markets promoting exports and imports globally. Its transformation from a centrally planned economy to market economy changed it from one of the poorest in the world into a lower-middle-income country. Today, Vietnam is the most dynamically emerging nation of the East Asian region.
With the increase of the trade movements, there comes the need for properly managed Vietnam import export data. The Vietnam trade data provide an overview of the trade that occurred in a financial year along with details of the trade activities older than a year.
Vietnam export data showed exports in Vietnam decreased to $22600M in November from $24230M in October of 2019. But the exports reached an all-time high of $25885M in August of 2019. The main Vietnamese exports are telephones, mobile phones (21%), textiles (12%), computers and electrical products (12%), shoes and footwear (7%), machinery, instruments, and accessories (6%).
According to the Vietnam exporters database, its main global export partners are the United States (19%), China (16%), Japan (8%), South Korea (7%), Hong Kong (4%) and Netherlands (3%). Within the US-China trade rivalry, Vietnamese goods have found a profitable US market for themselves with its export increase to 34.8% in the first nine months of 2019 to the US. Vietnam being the lower-middle-income country attains several customs concessions regarding the market entry in the developed countries' markets.
Vietnam import data revealed its main import partners are China (28%), South Korea (22%), Japan (8%), Taiwan (6%), Thailand (5%) and the United States (4%). China and Vietnam share 1,281 km of borders, which leads to major imports of the Chinese products for domestic consumption of Vietnam.
As per the details about global trade agreements, the regional economic comprehensive partnership (RCEP) is under negotiations, giving a hope for further Vietnamese export boost. As when the trade agreement would come into force, Vietnamese exports will increase due to free access to many of the world's large markets with few restrictions, stressing for more need of ready-to-use Vietnam import export data.
Seair Exim Solutions is one of the well-known import export data bank provider firms in India. It offers latest, 100% genuine, trusted and reliable world trade data of more than 80 countries such as India, USA, Peru, Pakistan, Russia, Mexico, Sri Lanka, Indonesia, Vietnam, etc. Our major services are US import data, import data India, export data India, import data Indonesia, Vietnam export data, Russia customs data, Mexico trade data, Kenya shipment data etc. You can find various free resources related to import and export trade business like Indian HS code list, HS code search, HS code finder, sac code list, sac code finder, custom duty India, custom import duty India, custom duty calculator, foreign ports, trading partners of India, HSN code with GST rate in India, GST rates list and many more on our website – seair.co.in.
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