What is the main export goods to Vietnam?

Statistics
Export goods Electronics, textiles products, machinery, footwear products, transportation products, wooden products, seafood products, steel, crude oil, pepper, rice and coffee
Main export partners China(+) 19.6% United States(+) 18.1% Japan(+) 7.43% South Korea(+) 7.09% (2018 est.)

What are Vietnam’s major exports?

Vietnam main exports are: telephones, mobile phones and parts thereof (21 percent of total shipments) and textiles (12 percent). Others include: computers and electrical products (12 percent); shoes and footwear (7 percent) and machinery, instruments and accessories (6 percent).

What are Vietnam’s main imports?

Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent).

What are the top 5 exports?

These are the top US exports

  • Top U.S. goods exports.
  • Food, beverage and feed: $133 billion. …
  • Crude oil, fuel and other petroleum products: $109 billion. …
  • Civilian aircraft and aircraft engines: $99 billion. …
  • Auto parts, engines and car tires: $86 billion. …
  • Industrial machines: $57 billion.
  • Passenger cars: $53 billion.
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7.03.2018

Who does Vietnam trade the most with?

Vietnam top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
United States 41,550 19.31
China 35,394 16.45
Japan 16,792 7.81
Korea, Rep. 14,807 6.88

What is Vietnam’s biggest industry?

Main Sectors of Industry

Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics and paper as well as tourism and telecommunications. Agriculture represented 14% of GDP and employs 36% of the total workforce in 2020 (World Bank).

Why is Vietnam so poor?

The majority of the poor are farmers. In 1998 almost 80 percent of the poor worked in agriculture. The majority of the poor live in rural, isolated, mountainous or disaster prone areas, where physical infrastructure and public service are relatively undeveloped. The poor often lack production means and cultivated land.

What are the top 5 items that Vietnam import?

So, let’s just have a detailed analysis of 5 Vietnam main imports under 2-digit level HS Code.

  • Electrical Machinery & Equipment. …
  • Machinery, Nuclear Reactors, Boilers, etc. …
  • Plastics. …
  • Iron and Steel. …
  • Mineral Fuels & Oils. …
  • 10 Largest Import Partners of Vietnam.

27.02.2018

What is Vietnam main source of income?

The majority of Vietnam’s export revenues are generated by crude petroleum, garments, footwear, and seafood, and electronic products are of growing importance.

What are the top 3 exports of Vietnam?

U.S. goods exports to Vietnam in 2019 were $10.9 billion, up 12.2% ($1.2 billion) from 2018 and up 250.7% from 2009. The top export categories (2-digit HS) in 2019 were: electrical machinery ($1.7 billion), cotton ($1.5 billion), aircraft ($787 million), plastics ($772 million), and machinery ($476 million).

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What is America’s number 1 export?

Searchable List of America’s Most Valuable Export Products

Rank US Export Product 2020 Value (US$)
1 Processed petroleum oils $60,709,450,000
2 Crude oil $50,285,962,000
3 Cars $45,642,596,000
4 Integrated circuits/microassemblies $44,212,664,000

What 5 countries do we import the most from?

The United States imports half of its total volume from five countries: China, Canada, Mexico, Japan, and Germany. Although the United States can manufacture goods it imports, these exporting countries have the comparative advantage over it.

Which country exports the most?

Leading export countries worldwide in 2020 (in billion U.S. dollars)

Characteristic Value in billion U.S. dollars
China 2,591.12
United States 1,431.64
Germany 1,380
Netherlands 674.48

What products are made in Vietnam?

Made in Vietnam: The Country’s Top 10 Exports

  • Electrical equipment. …
  • Footwear. …
  • Electronics. …
  • Clothing. …
  • Coffee. …
  • Fish. …
  • Crude petroleum. …
  • Leather.

Does America trade with Vietnam?

U.S.-Vietnam bilateral trade has grown from $451 million in 1995 to over $90 billion in 2020. U.S. goods exports to Vietnam were worth over $10 billion in 2020, and U.S. goods imports in 2020 were worth $79.6 billion. U.S. investment in Vietnam was $2.6 billion in 2019.

How can I start export business in Vietnam?

Import and export licensing procedures

Vietnam does not require a company to have an import or export license to set up a trading company. However, to be able to conduct import or export business, a foreign investor must register with the Department of Planning and Investment (DPI).

Notes from the road