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Foreign trade figures of Vietnam

Foreign Trade in Figures

Vietnam is one of the most open economies to international trade in Asia, with trade representing 166% of its GDP (World Bank, latest data available). In 2023, computers, electronic products, and components were the main export (17% of the total), followed by telephones and components (14.8%), textiles (9.3%), footwear (5.4%), and machinery, equipment, tools, and spare parts (5.1%); whereas imports were led by computers, electronic products, and components (26.7%), machinery, equipment, tools, and spare parts (13.3%), fabrics (4.0%), iron and steel (3.3%), and telephones and components (2.5% - data Ministry of Commerce).

The main export partners in 2023 were the United States (27.3% of all exports), China (17.1%), South Korea (6.6%), and Japan (6.6%), with ASEAN countries cumulatively accounting for 49.7%. On the other hand, Vietnam's main suppliers were China (33.9%), Japan (16.1%), South Korea (6.6%), and Taiwan (5.6% - data Vietnamese Customs). The Vietnamese economic model remains heavily dependent on foreign investment and exports, especially to the United States and China. In recent years, Vietnam has demonstrated a strong commitment to trade liberalization. It joined the WTO in 2007 and signed Free Trade Agreements (FTAs) with the ASEAN countries and the United States. Vietnam also enjoys a cooperation agreement with the EU. A free trade agreement between both parties was ratified by the European Parliament in February 2020 and is expected to enter into force soon. A Regional Comprehensive Economic Partnership (RCEP) - the world’s largest trade agreement - was signed by Vietnam in 2020, which includes 16 countries in total: Australia, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, and Thailand.

Vietnamese trade is characterized by some geographic inequality: the country shows a trade surplus with Western countries, but a series of deficits with some of its Asian neighbours. In 2023, the value of exports of goods stood at USD 353.78 billion (-9.5% y-o-y), with imports – at USD 325.7 billion - decreasing at a similar pace (-9.3%). As per services, exports reached USD 19.6 billion against USD 29 billion in imports. The World Bank estimated the trade balance to be positive by 8% of GDP (from 3.8% one year earlier). According to the Ministry of Industry and Trade, exports in 2024 increased by 14.3% year-on-year to reach USD 405.53 billion, driven by shipments of electronics, smartphones, clothing, and agricultural products. Imports rose by 16.7% to USD 380.76 billion, resulting in a trade surplus of USD 24.77 billion.

 
Foreign Trade Values 20202021202220232024
Imports of Goods (million USD) 262,701332,455359,148325,776379,027
Exports of Goods (million USD) 282,629335,978371,288353,782403,241
Imports of Services (million USD) 18,13319,21527,22725,60635,947
Exports of Services (million USD) 6,1133,49813,34619,00923,630

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20202021202220232024
Foreign Trade (in % of GDP) 163.2186.7183.2164.8n/a
Trade Balance (million USD) 30,70817,46629,39844,02843,043
Trade Balance (Including Service) (million USD) 20,4211,79915,49535,20130,711
Imports of Goods and Services (Annual % Change) 3.316.71.3-3.2n/a
Exports of Goods and Services (Annual % Change) 4.114.83.9-1.2n/a
Imports of Goods and Services (in % of GDP) 78.992.889.778.4n/a
Exports of Goods and Services (in % of GDP) 84.493.993.486.5n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2025 (e)2026 (e)2027 (e)2028 (e)2029 (e)
Volume of exports of goods and services (Annual % change) -2.0-5.7-2.84.85.7
Volume of imports of goods and services (Annual % change) 0.4-4.5-1.05.66.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Asia - Pacific Economic Cooperation - APEC

Association of Southeast Asian Nations - ASEAN

 

Main Partner Countries

Main Customers
(% of Exports)
2023
United States 27.5%
China 17.2%
South Korea 6.6%
Japan 6.6%
Netherlands 2.9%
See More Countries 39.2%
Main Suppliers
(% of Imports)
2023
China 34.0%
South Korea 16.1%
Japan 6.6%
United States 4.2%
Thailand 3.6%
See More Countries 35.4%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

353.1 bn USD of products exported in 2023
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 14.8%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 3.5%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 3.1%
Parts and accessories (other than covers, carrying...Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of heading 8469 to 8472, n.e.s. 2.5%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials (excl. toy footwear) 2.5%
See More Products 73.7%
325.4 bn USD of products imported in 2023
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 14.8%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 2.8%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 2.8%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal 2.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 2.0%
See More Products 75.4%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

36.7 bn USD of services exported in 2023
44.84%
24.93%
17.57%
6.49%
4.53%
0.56%
0.38%
0.30%
0.14%
0.11%
0.10%
0.05%
29.1 bn USD of services imported in 2023
43.91%
26.87%
16.99%
4.59%
3.06%
1.55%
0.79%
0.79%
0.77%
0.49%
0.12%
0.09%

Source: United Nations Statistics Division, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: October 2025