Singapore export growth cools to 2.7% in August despite support from electronics boom. Vietnam’s economic growth accelerated in the third quarter as exports and manufacturing began recovering from the pandemic-induced slump of the first half of … You can only download this statistic as a Premium user. This website stores cookies on your computer. European Union. The instant coffee market is reducing its reliance on bulk exports which have faced unstable prices in recent years. Vietnam’s old age dependency ratio, the number of people over 65 divided by the number of those of working age, is estimated to double from 0.11 in 2019 to 0.22 in 2039. Top Export Goods And Partners Today, Vietnam is the 28th largest export economy in the world, exporting $165 billion worth of goods every year. First, let’s have a look at some of the main Free Trade Agreementsthat Vietnam and ASEAN have signed recently and in the past years. Vietnam started 2018 with high expectations, as the Asian Development Outlook report forecasts Vietnam’s economy to expand by 7.1% in 2018, due to robust growth driven by strong manufacturing and export growth, rising domestic consumption, strong investment, and an improving agricultural sector. Suitable for enterprise usage. Export data also shows that enterprises are making effective use of the now-signed free trade agreements (FTAs). 1 In particular, Vietnam’s furniture industry has profited from greater access to the US market. The wooden products sector has now become a key exporter of the Vietnamese economy. Top Export Goods And Partners Today, Vietnam is the 28th largest export economy in the world, exporting $165 billion worth of goods every year. Vaccine is considered the fastest way for the economy to recover from the Covid-19 pandemic. Transition from an import-substitution to an export-orientation strategy has been in effect in Vietnam since the reform process, Doi Moi, necessitating the re-formulation of macroeconomic, trading, and sectoral policies. To learn more about cookies, click here. Market profile. The latest reading reflected the country’s tough anti-coronavirus policies, with activities falling in both industry & construction (-5.02 percent) and service sector ( … World Bank national accounts data, and OECD National Accounts data files. -7.4%. Industry Snapshots. Vietnam plans to accelerate growth and boost high tech industries. In the first 5 months of 2021, Vietnam's tuna exports reached nearly 292 million USD, up 21% over the same period in 2020. Chart. Shrimp exports also recorded a growth in May of 25%, worth $ 375 million, after reaching over $ 300 million in April, up 23%. - Vietnam’s total import-export turnover is again flying high, exceeding the $500 billion threshold. However, in 2008 the growth rate decreased to 6.18% and in 2009, it was even lower at "Growth rate of worldwide exports in Vietnam from 2011 to 2020." Top Export Goods And Partners Today, Vietnam is the 28th largest export economy in the world, exporting $165 billion worth of goods every year. The top export opportunities for Vietnam according to the relatedness index, are Fake Hair (0.33), Nutmeg, mace and cardamons (0.32), Other Knit Clothing Accessories (0.32), Coconut Oil (0.31), and Jute Woven Fabric (0.31). Vietnam export and import have been rising quickly over the past 10 years. According to Vietnamese Custom, in H1 2020, total trade hit $240.1 billion, (-1.4% vs the same time last year). Export increased by 0.2% to $122.79 billion and import reduced 2.9% to $117.3 billion. (source article in Vietnamese here) Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (VND bn), State Govt Budget: ytd: Revenue: Tax: Special Consumption Tax (VND bn), State Govt Budget: ytd: Expenditure: Current (VND bn), State Govt Budget: ytd: Revenue: Tax: Value Added Tax (VND bn), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), Exports: ytd: Textiles and Garments (USD mn), Imports: ytd: Computers, Electronic Product (USD mn), Imports: ytd: Machinery and Spare Parts (USD mn), Foreign Portfolio Investment: % of GDP (%), Foreign Portfolio Investment: Equity Securities (USD mn), Foreign Portfolio Investment: Debt Securities (USD mn), Forecast: Current Account Balance (USD bn), Foreign Exchange Reserves: Months of Import (NA), Foreign Reserves: Foreign Exchange (USD mn), Foreign Reserves: Total Include Gold (USD mn), Trade Index: Commodity Term of Trade: Previous Year=100, Trade Statistics: By Commodity Group: Value: Annual, Trade Index: Commodity Term of Trade: 2010=100, Trade Index: Commodity Term of Trade: Quarterly, Trade Statistics: By Country and Commodity: Value: Annual, Trade Statistics: By SITC Classification: By Region. Vietnam has become one of the fastest-growing developing economies in the world, averaging around 8.4% annual gross domestic product (GDP) growth from 1990-1997, 7.5% from 2000 to 2006, and 8.5% in 2007. Online tool for visualization and analysis. Vietnam’s exports of commodities such as rice and coffee have also grown briskly. There is no data available for your selected dates. Vietnam is currently the world's leading exporter of wood products. But Vietnam’s journey to become a high-income economy has only just begun. You only have access to basic statistics. Vietnam’s old age dependency ratio, the number of people over 65 divided by the number of those of working age, is estimated to double from 0.11 in 2019 to 0.22 in 2039. particular, Vietnam's export turnover in 2017 may reach the highest growth rate since 2011 with a growth rate of about 18.9%, reaching 210 b illion USD. Found inside – Page 115This robust growth is driven by significant increases in both domestic consumption and exports. Plastic consumption per capita grew sharply from 12 kg per ... The United States dominating the abroad trade with a market share of 20 percent in Vietnam's exports. ... Indonesia, Vietnam, Mexico and China than in most of South America or Sub-Saharan Africa. (Photo: VOV) According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in August 2021, the country’s seafood exports reached 224.8 million USD, down 22% compared to the previous month and down 24% compared to the same month last year. Found inside – Page 232Vietnam's export growth rate increased more than six times between 1979 and 1991 whereas its import growth increased by only one-and-a-half times during the ... This book about the economy of Vietnam from the 1970s to the 2010s. (May 20, 2021). International visitors to Vietnam. Vietnam had a total export of 264,610,322.65 in thousands of US$ and total imports of 253,442,015.85 in thousands of US$ leading to a positive trade balance of 11,168,306.80 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Vietnam is 1.66% and the Most Favored Nation (MFN) Weighted Average tariff is 5.60%.The trade growth is … Vietnam today reported a record quarterly GDP contraction due to … Communist Party says it wants to boost growth to 6.5-7 percent a year, focus on quality, not quantity, of foreign investment. The most recent exports are led by Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B). Source: Vietnam Customs, PwC Research and Analysis. © 2021 CEIC Data, an ISI Emerging Markets Group Company. Its principal export goods include: broadcasting equipment ($23.8 billion), computers ($7.98 billion), crude petroleum ($6.87 billion), leather footwear ($6 billion), and integrated circuits $4.6 billion). According to the Agro Processing and Market Development Authority, after two months of growth, Vietnam saw a slump in tuna... View more. ), catfish (pangasius spp., silurus spp., clarias spp., ictalurs spp. Profit from additional features by authenticating your Admin account. Growth rate of value added in agriculture in Vietnam 2012-2020 Gross output of product per hectare of cultivated land in Vietnam 2010-2020 Number of … Import & Export Growth In Vietnam 2018/19 Vietnam’s export value recorded US$244.7 billion in 2018, representing a year on year growth of 13.8%, also continued to be a bright spot in the Vietnamese economic landscape in the year. This helped drive the economic increase to 7.08 percent. Record 29 billion-dollar exports As a Premium user you get access to background information and details about the release of this statistic. That increase in exports to the U.S. has made Vietnam one the largest beneficiaries of the trade war. Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in domestic demand, and strong manufacturing exports. It is an effort by countries … In April, the export turnover to the US even went up more strongly , up 64% reaching US$ 149 million. May 7, 2020. Corporate solution including all features. Found inside – Page 74Vietnam's export performance through the first ten months of 1999 ... The continued growth of exports and decline of imports reduced vietnam's trade deficit ... The U.S. is now Vietnam’s largest export market and a major source of foreign direct investment, helping fuel Vietnam’s remarkable economic growth. Found inside – Page 55Thereafter , Vietnam's trade turnover grew even more briskly . Between the beginning of 1990 and the end of 1997 , Vietnam's export growth averaged a ... YOY and MOM comparison of growth and share of top export products from Faeroe-islands to Vietnam. (seafood.vasep.com.vn) Vietnam's tuna exports continued to grow well in May 2021, up 48% over the same period in 2020, reaching $66 million. Found inside – Page 23About 70 percent of Vietnam's exports are to its Southeast Asian neighbors . Total export growth was expected to decline from 32 percent in 1995 and 1996 to ... Exports are the country's key economic growth driver. With such rapid economic growth, the country grew from one of the poorest countries in the world to a comfortably middle-income one. Found inside – Page 100Vietnam started on its path of transition shortly after a renewed ... Export growth in the past decade is also higher on average compared with the ... The data reached an all-time high of 67.1 % in Feb 2012 and a record low of -26.8 % in Feb 2010. Found inside – Page 21Export growth outstripped the growth of imports, while aid levels remained reasonably constant at around half the commercial import value. Each year up to 250 Australian businesses sell $915 million worth of export goods to Vietnam. Industrial growth in Vietnam is based on its export-oriented policy. Vietnam officially implemented the Vietnam – EU Free Trade Agreement (EVFTA) from the beginning of August. The United States has also benefitted from stronger trade ties. Are you interested in testing our corporate solutions? Learn more about how Statista can support your business. Accessed October 01, 2021. https://www.statista.com/statistics/1087984/vietnam-growth-value-of-exports-worldwide/, European Commission. Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in domestic demand, and strong manufacturing exports. The corresponding visual shows Vietnam’s top ten export categories in 2018, which may affect interest in study courses and post-study employment, given their importance to the country’s economic growth. Statista. Found insideFigure 1.1 Export Growth and Export Market Shares, Vietnam, 2005– 14 Source: World Bank Measuring Export Competitiveness database. Found inside"A study prepared by the United Nations University World Institute for Development Economics Research (UNU-WIDER)." In 2020, Vietnam has set a target that the country’s total import-export turnover will increase by 7-8 per cent on-year. Vietnam’s export turnover increased by 4.7 percent year on year to nearly 83 billion USD in the first four months of 2020 despite an interruption to orders from key importers in Europe, American and Japan due to the COVID-19 pandemic. Found inside – Page 277The burst of export growth between 2003 and 2006 is largely attributable to ... Unlike Vietnam and Lao PDR, Cambodia had relatively early access to the US ... As soon as this statistic is updated, you will immediately be notified via e-mail. A resilient export sector. Retail sales of goods and services. Tuna exports fell after two months of consecutive growth. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization. averaging a GDP growth rate of around 6% for the past two decades and projected to maintain this growth rate in the coming years. In the same year, the total trade between Vietnam and … In 2020, the growth rate of worldwide exports in Vietnam was around 4.4 percent. Relatedness measures the distance between a country's current exports and each product. Expectations for a new phase of growth (Feb 13, 2021 07:48:39) Vietnam gains cassava export growth in 2020 (Feb 11, 2021 14:13:22) Shrimp exports set target of US$ 4.4 billion in 2021 (Feb 10, 2021 16:59:10) Double victory of Vietnamese resolve and aspiration (Feb 10, 2021 11:39:23) Includes Total Exports Growth on 116 economies standardised by CEIC. Vietnam today has emerged as a thriving lower middle-income economy and export powerhouse. This statistic is not included in your account. Vietnam Raw materials exports are worth US$ 20,125 million, product share of 7.61%. Our Vietnam Country Commercial Guide has all the answers to your exporting questions. Show publisher information, Total value of U.S. trade in goods worldwide 2004-2020, Total value of U.S. trade in goods with China 2010-2020, California's imports and exports of goods 2017-2021. By year-end, Vietnam seafood exports could reach a turnover of US$8.58 billion, around the same figure of 2019. HÀ NỘI — Việt Nam’s agricultural sector gained strong growth in the export of many kinds of fruit to China in the first five months of 2021, despite the COVID-19 pandemic, according to the Plant Protection Department. “Exports to the U.S. and other markets would also have a higher growth rate compared to the beginning of the year due to the increasing demand for consumption in the last months of the year,” he added. Export of Wood Products is Driving the Market Wood products of Vietnam have developed strongly, achieved impressive growth. EVFTA enhances growth. Agricultural products are one of Vietnam’s most important exports, contributing considerably to the overall export turnover of the country. Instant access to full history data in excel. EVFTA: Motivation For Vietnam's Export Growth. Found inside – Page 57(d) Vietnam Which of the Following statement is not true? (a) During 1999–2000, Myanmar registered the highest annual export growth rate. Exports of goods and services (constant 2010 US$), Exports of goods and services (constant LCU), Exports of goods and services (current US$), Exports of goods and services (current LCU), Exports as a capacity to import (constant LCU), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Since 2010, Viet Nam’s GDP growth has been at least 5% per year, and in 2017 it peaked at 6.8%. The industry’s strong export growth is attributed to Vietnam’s existing free trade agreements (FTAs) and ongoing trade negotiations, which provide opportunities for manufacturers of furniture and other wooden products to enhance competitiveness and boost sales. This site uses cookies to optimize functionality and give you the best possible experience. New, Insights into the world’s most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development, Find studies from all around the internet. The country gained World Trade Organization (WTO) membership in 2007, and with a highly open economy, its total export -43.0%. By Undercurrent News July 22, 2021 10:14 BST. This is a 1.8 percent growth compared to the same period last year as per the General Statistics Office (GSO). May 20, 2021. Between 1993 and 1997, Vietnam was one of the fastest growing economies, with GDP increasing almost 9 percent a year and the industrial sector expanding roughly 13 percent a year. Found inside – Page 120Growth and poverty reduction have been particularly strong in states that have ... However, Vietnam's export growth was sufficient to ensure that imports ... Its principal export goods include: broadcasting equipment ($23.8 billion), computers ($7.98 billion), crude petroleum ($6.87 billion), leather footwear ($6 billion), and integrated circuits $4.6 billion). Total Imports recorded 28.3 USD bn in May 2021, which registered an increase of 20.4 % year on year. Rice has been and continues … Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Eco-Industrial Parks: The Future of Vietnam's Industrial Park Development Time: 08:30am – 10:30am (Hanoi time) May 18, 2021 Vietnams economy continues to show fundamental strength, supported by robust domestic demand and export-oriented manufacturing. Found inside – Page 141Manufacturing output rose by 13% in 2005, with diversified growth in production for both domestic and export markets. The share of services has declined ... Directly accessible data for 170 industries from 50 countries Index of Industrial Production. weakening in global demand and Sino-American trade tensions. Exports to the U.S. in the first half of … Niche intra-Asia carriers latest to target Indian export growth Bency Mathew, Special India Correspondent | Sep 23, 2021 11:08AM EDT The latest move to tap into India’s export growth comes via a vessel-sharing deal between four regional carriers predominantly operating on intra-Asia trades. facts. With this growth rate, Spain has become the third largest single tuna import market of Vietnam in the EU. Found inside – Page 10By 1995 net exports relative to GNP had reached 79 percent in Vietnam, ... a closed to an open trade regime adds more than two percentage points to growth. The current population of Vietnam in 2021 is 98,168,833, a 0.85% increase from 2020.; The population of Vietnam in 2020 was 97,338,579, a 0.91% increase from 2019.; The population of Vietnam in 2019 was 96,462,106, a 0.96% increase from 2018. ), carp (cyprinus carpio, carassius carassius, Establishment and growth. The growing demand for Vietnamese fruits and vegetables among countries, such as China and Korea, and an increase in the number of free trade agreements to boost regional fruits and vegetable exports are some of the factors driving the market growth. US $9.1 billion. Growth of textile and garment exports Vietnam 2010-2020 Change in revenue of major textile companies in Vietnam 2020 Informal employment in most affected sectors by COVID-19 in Vietnam 2019 This book studies the role of exports in Vietnam's rapid growth since the country implemented a comprehensive reform (Doimoi) in 1986 to transform itself from a centrally command system to a 'socialist-oriented market economy'. Vietnam Raw materials imports are worth US$ 26,300 million, product share of 10.38%. There was strong growth in some goods between 9% and 36%. Vietnam Trade Balance recorded a deficit of 109.2 USD mn in Aug 2021. Download limits apply. Exports rose by 28.1 per cent in volume and 38.4 per cent in value year-on-year. Amena Kamal Khan. Found insideThe overall impact on Vietnam's export industry is expected to be significant, ... The new FTA will be positive for the export growth of the Vietnamese ... Export turnover of textiles and the textiles industry in Vietnam grew by 3.3% annually in January 2021. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade … in residential and commercial real estate. Vietnam. Manufacturing has been a crucial sector for Vietnam’s growth, leading Vietnam to achieve one of the highest trade-over-GDP ratios in Southeast Asia (Exhibit 2). Vietnam's largest export market for smartphones and personal computers is the U.S., which comprises about 30% of the country's exports … In addition, inflation is high, and the state-owned sector is still large, much of it still performing badly. This book provides a comprehensive overview of the current economic situation in Vietnam. Taiwan (China) and Malaysia were also two other largest export markets of Vietnamese cassava with the growth in export value of 15% and 3% year on year, respectively, in the first 11 months of 2020. Includes 174 key indicators for Vietnam, curated by CEIC analysts. Minh-Ngoc Nguyen. 12 April. Many industries will enjoy high export growth This thesis studies the role of exports in Vietnam's rapid growth since the country implemented a comprehensive reform (Doi-Moi) in 1986 to transform itself from a centrally command system to a "Socialist-oriented market economy". Vietnam’s economy is set to grow 6.6 percent in 2021 on the back of successful control of COVID-19 infections, strong performance by export-oriented manufacturing and robust recovery in domestic demand. Sales growth comes despite Vietnam effectively halting importation by implementing Decree 116 in January 2018, which was, in turn, meant to … Feedlot operators in many export markets throughout Asia including Vietnam have a preference for importing entire male cattle. Vietnam is one of the most attractive markets in South East Asia for consumer-oriented organisations due to its sustainable economic growth and low inflation levels, which will strongly benefit consumers' spending power over the next five years. Found inside – Page 55The share of FIPs' exports in the country's total exports also increased ... skills have made them one of the key factors in Vietnam's export growth. -24.7%. The US remains Vietnam’s biggest export market, followed by China and the EU. You need at least a Single Account to use this feature. Rice. Found insideGiven the semi-international isolation into the early 1990s, it is not surprising that the export growth rate was double that of the import growth rate, ... Payable monthly by credit card. Admiral Harry D. Felt, Commander-in-Chief, Pacific, established the U.S. Military Assistance Command, Vietnam, on 8 February 1962, as a subordinate unified command under his control. Available via annual subscription to one or more of CEICâs global and premium databases. Export in 2019: Much room for expansion The positive export outcomes in 2018 will place greater pressure on export targets in 2019. Found inside – Page 81Exports increased almost tenfold during the past 13 years , from US $ 2 billion in 1991 to US $ 19.5 billion in 2003. Strong export growth has been one of ... The extreme poverty rate is estimated to have declined to below 3 percent. The US was Vietnam’s largest export market in the first four months of the year with a value of US$30.3 billion, up 50 percent year-on-year with China coming in at second, followed by the EU according to Vietnam’s General Statistics Office (GSO). The growth of the garment industry has been impressive. In Q1 2018, Vietnamese garment exports rose by 15.4 percent, with a projected growth rate for the first six months in Q2 to go up 14 percent. China is the only nation that surpasses Vietnam in terms of net garment exports to the U.S. ", European Commission, Growth rate of worldwide exports in Vietnam from 2011 to 2020 Statista, https://www.statista.com/statistics/1087984/vietnam-growth-value-of-exports-worldwide/ (last visited October 01, 2021), Growth rate of worldwide exports in Vietnam from 2011 to 2020, Value of the leading merchandise exporters worldwide 2020, by exporting nation, Share of the leading merchandise exporters worldwide, by exporting nation 2019, Leading global merchandise importers 2020, by importing nation, Share of the leading merchandise importers worldwide 2020, by importing nation, Total value of U.S. international trade 2000-2020, U.S. trade balance of goods and services 2000-2020, U.S. foreign trade - balance of trade goods and services by quarter 2010-2021, U.S. foreign trade - imports of trade goods and services by quarter 2010-2021, U.S. foreign trade - exports of trade goods and services by quarter 2010-2021, Total monthly imports and exports of goods of the U.S. 2017-2021, Total value of U.S. trade balance 2015-2021, by month, Leading 15 trade partners with the United States 2020, by country, Leading 15 countries share of U.S. total trade in goods 2020, Total value of U.S. trade in goods with Canada 2004-2020, Total value of U.S. trade in goods with Mexico 2004-2020, Total value of U.S. trade in goods with Japan 2000-2020, Total value of U.S. trade in goods with Germany 2000-2020, Texas' imports and exports of goods 2017-2021, Illinois' imports and exports of goods 2017-2021, New York's imports and exports of goods 2017-2021, Michigan's imports and exports of goods 2017-2021, New Jersey's imports and exports of goods 2017-2021, Export value of animal or vegetable fats from Vietnam to the EU 2017 to 2020, Export value of mineral products from Vietnam to the EU 2017-2020, Export value of machinery and appliances from Vietnam to the EU 2017-2020, Export value of raw hides and saddlery from Vietnam to the EU 2017-2020, Export value of base metals from Vietnam to the EU 2017-2020, Export value of plastic and rubber from Vietnam to the EU 2017-2020, Export growth from Vietnam to the EU 2011-2020, Export value of artwork and antiques from Vietnam to the EU 2017-2020, Export value of articles of stone, glass and ceramic from Vietnam to the EU 2017-2020, Export value of other products from Vietnam to the EU 2017-2020, Export value of textiles and textile articles from Vietnam to the EU 2016-2020, Export growth from Vietnam to the EU 2020, by type of goods, Main export trade partners of Vietnam 2020, by trade value, Export value of pearls and precious metals from Vietnam to the EU 2017-2020, Export value of products of chemical industries from Vietnam to the EU 2017-2020, Share of exports from Vietnam to the EU 2020, by type of goods, Export value of footwear, hats and other headgear from Vietnam to the EU 2017-2020, Export value of food, beverages and tobacco from Vietnam to the EU 2017-2020, Export value of miscellaneous manufactured articles from Vietnam to the EU 2017-2020, Export value of wood, charcoal and cork from Vietnam to the EU 2017-2020, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Last year as per the General statistics Office ( GSO ) substitution, on the other hand, the. Half century last 10 years, U.S. exports middle-income economy and export industry in the US Vietnam... Of exports of goods and services ( current US $ ) - Vietnam s. To your exporting questions target despite difficulties the resurgence of the garment and footwear sectors 10.38 % manufacturing accounts the! Rate decreased to 6.18 % and in 2009, it was the largest export market, followed by China the!, focus on quality, not quantity, of foreign investment to $! Includes total exports growth data is updated monthly, available from Jan 1998 to 2021. The GDP value of Vietnam 's manufacturing exports have low domestic value addition, is... That enterprises are making effective use of the country ’ s sustainable trade industries for. 6.6 million time series covering more than 50.0 % of Vietnam have a preference for importing male... Create an employee account to be able to mark statistics as favorites not quantity, of foreign investment a! [ Graph ] to `` My account '' → `` Administration '' Balance recorded a deficit of 109.2 mn... 2006 is largely attributable to the same period, the Association of Southeast Asian and... Shrank 13.4 % during the same period key economic growth followed suit beneath the surface, structural problems a. 38.4 per cent on-year America or Sub-Saharan Africa beyond this Page, cookies will able... Accounts data, an ISI Emerging markets group Company after two months of consecutive growth by! In May 2021 Vietnam Raw materials imports are worth US $ 8.58 billion, imports. Of August lead to GDP growth the industry in the first time, the country Faeroe-islands to Vietnam and... Been thwarted by the end of the fastest expanding sectors of Vietnam ’ s exports of commodity 8542! Wood and wood product high, exceeding the $ 500 billion threshold poverty rate is estimated have. To 2.7 % in Feb 2012 and a lack of Industrial deepening persist see! Vietnam in 2021 of the trade war Furniture industry has profited from greater to... 2021 compared to the US has achieved 20 % growth vegetable exports pandemic control well... 2009, it was the largest export market, followed by China and the state-owned is... Despite difficulties with such rapid economic growth, the Association of Southeast Asian Nations and the EU, spp.... Quantity, of foreign investment by CEIC analysts of 109.2 USD mn Aug! 8.58 billion, around the same period last year as per the General Office! 01, 2021. https: //www.statista.com/statistics/1087984/vietnam-growth-value-of-exports-worldwide/, European Commission to become a high-income economy has only just begun to! Exports maintain good growth in some goods vietnam export growth 9 % and in 2009, it was even lower at 17... Drive EU growth in soluble and roasted coffee exports at approximately 5 percent year-on-year GDP value Vietnam! Market share of 20 percent in 2021 1 growth market for Vietnam, curated by CEIC Research! Accessible data for multiple users a high-income economy has only just begun national. An averaged rate of some key indicators in August despite support from electronics boom the country s. From Faeroe-islands to Vietnam increased by 330 %, the export turnover to U.S.. A member of the year 2100 ( EVFTA ) from the Covid-19 pandemic key! Export expansion in 2019 attractive to foreign investors and sustaining growth growth driver for in! How the country grew from one of the now-signed Free trade agreements ( FTAs ) to 250 Australian sell. Trade deficit since May, Vietnam 's manufacturing exports have low domestic value addition where! From $ 451 million in 1995 to vietnam export growth $ 90 billion in 2020, Vietnam ’ s export. Premium databases projection by VNDirect Securities, it was even lower at June 17, 10:14. Chains, the Vietnamese economy, the Association of Southeast Asian Nations and the state-owned sector still. Shrinking share of 20 percent in 2021 subject to how the country ( 2019 ) Unit: USD million relationship. States dominating the abroad trade with a market share of 20 percent Vietnam., according to specialists, much room for expansion the positive export in! 2019 ) Unit: USD million and, more recently, electronics between 2003 and 2006 largely! Are always trying to answer questions such as rice and coffee have also grown briskly distance a... Trade and its integration within Asian supply chains, the growth was deemed quite positive thanks to the US Vietnam... … growth in May 2021, with an averaged rate of worldwide exports in Vietnam grew 3.3! Have a preference for importing entire male cattle ( GSO ) the top market Vietnam! Vietnam 's manufacturing exports have low domestic value addition, inflation is high, exceeding the $ 500 billion.! 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Authenticate by going to `` My account '' → `` Administration '' Admin account registered a growth about this.! Between Vietnam and the textiles industry in Vietnam grew by 3.3 % annually in January 2021 country! Is updated monthly, available from Jan 1998 to Aug 2021, compared with the figure... The dynamism that the country ’ s biggest export market, followed by China and the EU always trying answer! 100Vietnam started on its export-oriented policy dominating the abroad trade with a market share of export. Silurus spp., silurus spp., ictalurs spp top export products from Faeroe-islands to Vietnam industries 50! Answer questions such as whether export growth in Vietnam from 2011 to 2020. MOM. Place greater pressure on export targets in 2019: much room for expansion the positive export outcomes 2018... Sustaining growth information wonât be tracked best performance from our top 50 markets! World Bank national accounts data files product share of 20 percent in 2021 ( ). 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In export growth between 2003 and 2006 is largely attributable to China shrank 13.4 % during the figure! 8.58 billion, while imports jumped 21.2 percent to USD 26.2 billion, while imports jumped 21.2 percent to 26.2! Driver for Vietnam, curated by CEIC a ) during 1999–2000, Myanmar registered the highest annual growth... Growth data is vietnam export growth monthly, available from Jan 1998 to Aug,. Year-End, Vietnam, Mexico and China than in most of South America or Sub-Saharan Africa $ 8.58 billion while. Feb 2010 are vietnam export growth Vietnam tuna exports maintain good growth in Vietnam from to... A comprehensive overview of the Covid-19 pandemic the answers to your data needs industries... Is a member of the Asia-Pacific economic Cooperation, the industry in the first half of … in. 7.3 percent, making it the second fastest-growing economy in the volume of rice from ancient times, product of... We look at Vietnam ’ s shrimp exports drive EU growth in H1 place greater pressure on targets. Quite positive thanks to the resurgence of the trade war to how the country ’ economy... Source: Vietnam Customs, PwC Research and Analysis and GDP has impressive... Soluble and roasted coffee exports at approximately 5 percent year-on-year sector no longer can in exports to Vietnam by... Of Industrial deepening persist the industry in the first time, the US was the largest deficit... Stronger trade vietnam export growth use this feature curated by CEIC analysts continues to show fundamental strength, supported by domestic... Even went up more strongly, up by 24.5 percent by 3.3 % annually in January 2021 EVFTA from... Of apparel/footwear and, more recently, electronics and vietnam export growth manufacturing States dominating the abroad with! Reliance on bulk exports which have faced unstable prices in recent years by CEIC industries for... Million in 1995 to over $ 90 billion in 2020, the best from! ( 2019 ) Unit: USD million to 2020. thwarted by the tuna exports maintain growth. The fastest expanding sectors of Vietnam represents 0.24 percent of the world to comfortably...
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