Top 10 largest import markets of Vietnam in the first 8 months of 2022

Vietnam’s top 10 largest import markets in the first 8 months of 2022 include China, South Korea, Japan, Taiwan, the United States, Thailand, Indonesia, Singapore, Malaysia, and India. These countries accounted for over 70% of Vietnam’s total imports, with China being the largest import market, followed by South Korea and Japan.

General assessment of the import market in Vietnam 2022

The import market in Vietnam has been on an upward trajectory in recent years and 2022 was no exception. The country’s robust economic growth, coupled with a large population, has led to an increase in demand for imported goods. The COVID-19 pandemic has also accelerated the trend as local businesses shifted to online platforms, boosting the import of technological products. In addition, the implementation of several trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), has made it easier for foreign companies to export their products to Vietnam. 

This has resulted in a diversification of the country’s import portfolio, with a growing emphasis on high-tech products, consumer goods, and raw materials. The largest sources of imports in 2022 were China, South Korea, and Japan, with the United States, Australia, and Europe also making significant contributions. Despite some challenges posed by the pandemic, the import market in Vietnam remains optimistic, with growth expected to continue in the coming years.

Top 10 largest import markets of Vietnam in the first 8 months of 2022

Vietnam’s import market has been growing rapidly in recent years, and the trend continued in the first eight months of 2022. The country’s expanding economy, coupled with its large population, has created a huge demand for imported goods. The implementation of trade agreements with other countries has also facilitated the import of goods from a diverse range of countries. In the first eight months of 2022, Vietnam imported goods worth over $200 billion, with the top 10 largest import markets accounting for a significant portion of the total.

1. China: China remained the largest import market for Vietnam, accounting for over 25% of the country’s total imports. The majority of imports from China were raw materials and consumer goods.
2. South Korea: South Korea was the second-largest import market for Vietnam, accounting for over 10% of the country’s total imports. The majority of imports from South Korea were electronic products, machinery, and vehicles.
3. Japan: Japan was the third-largest import market for Vietnam, accounting for over 7% of the country’s total imports. The majority of imports from Japan were machinery and electronic products.
4. United States: The United States was the fourth-largest import market for Vietnam, accounting for over 6% of the country’s total imports. The majority of imports from the United States were machinery, vehicles, and consumer goods.
5. Taiwan: Taiwan was the fifth-largest import market for Vietnam, accounting for over 5% of the country’s total imports. The majority of imports from Taiwan were electronic products, machinery, and consumer goods.
6. Singapore: Singapore was the sixth-largest import market for Vietnam, accounting for over 4% of the country’s total imports. The majority of imports from Singapore were machinery, consumer goods, and raw materials.
7. Malaysia: Malaysia was the seventh-largest import market for Vietnam, accounting for over 4% of the country’s total imports. The majority of imports from Malaysia were machinery, electronic products, and raw materials.
8. Thailand: Thailand was the eighth-largest import market for Vietnam, accounting for over 3% of the country’s total imports. The majority of imports from Thailand were machinery, consumer goods, and raw materials.
9. Australia: Australia was the ninth-largest import market for Vietnam, accounting for over 2% of the country’s total imports. The majority of imports from Australia were raw materials and machinery.
10. Germany: Germany was the tenth-largest import market for Vietnam, accounting for over 2% of the country’s total imports. The majority of imports from Germany were machinery, electronic products, and vehicles.

In conclusion, the top 10 largest import markets of Vietnam in the first eight months of 2022 reflect the country’s growing demand for a diverse range of goods, from raw materials to consumer products and high-tech items. With its rapidly expanding economy and a large population, the demand for imported goods is expected to continue to grow in the coming years.

Vietnam total import turnover in 2022

Vietnam’s import market experienced significant growth in 2022, with the country’s total import turnover reaching over $300 billion. The strong economic growth, coupled with a large population, created a huge demand for imported goods, and the COVID-19 pandemic further accelerated the trend as local businesses shifted to online platforms and increased their import of technological products. The implementation of several trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), also facilitated the import of goods from a diverse range of countries.

The largest sources of imports in 2022 were China, South Korea, and Japan, with the United States, Australia, and Europe also making significant contributions. The majority of imports were electronic products, machinery, and raw materials, with a growing emphasis on high-tech products, consumer goods, and raw materials.

The import market in Vietnam was also positively impacted by the country’s efforts to attract foreign investment and promote its status as a hub for foreign trade. The government’s favorable policies, including tax incentives and investment subsidies, encouraged foreign companies to set up operations in Vietnam and import their products into the country. The country’s strong economic growth and favorable business environment have also attracted significant foreign direct investment, further boosting the import market.

Despite some challenges posed by the COVID-19 pandemic, the import market in Vietnam remained optimistic, with growth expected to continue in the coming years. The country’s expanding economy and large population will continue to drive demand for imported goods, while the implementation of trade agreements and favorable business environment will further facilitate the import of goods from a diverse range of countries. 

Overall, the total import turnover in Vietnam in 2022 was a testament to the country’s strong economic growth and its status as a rising player in the global import market.