Vietnam's trade with biggest partners in 2022 | Business | Vietnam+ (VietnamPlus) (2024)

FAQs

Who is Vietnam's top trading partner in 2022? ›

In 2022, the total value of imports to Vietnam from China amounted to around 112.9 billion euros, making China the leading import trade partner of Vietnam that year. In the same year, the total value of worldwide imports to Vietnam amounted to about 334.15 billion euros.

With a total turnover of more than 171 billion USD achieved last year, China continues to be Vietnam's largest trading partner, accounting for 25.16% of the country's turnover. However, our country's trade deficit with China is still large when last year's trade deficit was nearly 50 billion USD.

In 2023, electronics, computers, and components exports had the largest value amongst Vietnam's major commodities, at approximately 57.3 billion U.S. dollars.

Australia and Vietnam are strong partners with a commitment to ASEAN centrality and a shared vision for a region that is peaceful, stable and prosperous and where sovereignty is respected.

As of April 2022, Vietnam (officially the Socialist Republic of Vietnam) maintains diplomatic relationships with 189 UN member states, State of Palestine and Sahrawi Arab Democratic Republic.

Top 10 exports of Vietnam in 2022

According to the Vietnam export data for 2022, Its major export products are phones and accessories ($57.99 billion), computers and electronic products ($55.54 billion), machinery and equipment ($45.75 billion), textiles ($37.57 billion), and footwear ($23.90 billion).

Since the two sides agreed to enter a Comprehensive Partnership in 2013, bilateral trade between the United States and Vietnam grew from USD30 billion to more than USD139 billion, a 360% increase.

China has been Vietnam's largest trading partner for many years, with their import-export turnover accounting for 25 percent of Vietnam's total import-export value.

China remains Vietnam's largest trading partner, a dynamic relationship that continued to evolve in 2022.

Since 2022 Vietnam is also a member of the Regional Comprehensive Economic Partnership (RCEP) with Australia, Brunei, Cambodia, the PRC, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, and Thailand.

What is Vietnam's biggest imports? ›

Vietnam's major imports are computers, electrical products, and parts, making up18 percent of total imports. After that are machines, instruments, and accessories, making up 16 percent of imports. What are Vietnam's major exports?

In volume terms, Vietnam is the world's fifth-largest rice producer and third-largest exporter. Despite high temperatures and low rainfall across many parts of Asia stemming from El Nino, production in 2023 appears to have increased 1% to 2% over 2022 to more than 43 million tonnes.

Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent).

In 2019, Vietnam major trading partner countries for exports were United States, China, Japan, Korea, Rep. and Hong Kong, China and for imports they were China, Korea, Rep., Japan, Other Asia, nes and United States.

In 2023, China had 472 foreign direct investment (FDI) projects in Vietnam, the highest number of projects among all countries and territories. With 410 FDI projects, Singapore ranked second on the list, followed by Hong Kong with 315 projects.

Vietnam Trade & Investment Summary

U.S. goods exports to Vietnam in 2022 were $11.4 billion, up 3.0 percent ($336 million) from 2021 and up 146 percent from 2012. U.S. goods imports from Vietnam totaled $127.5 billion in 2022, up 25.1 percent ($25.6 billion) from 2021, and up 529 percent from 2012.

Singapore remained Vietnam's leading source of foreign investment with over 3.98 billion USD, making up 19.7% of the total FDI registered in the country (down 15.2% year-on-year). China came second with more than 2.92 billion USD, making up 14.5% of the total, and up 94.9% year-on-year.