Vietnam – top 30 countries with the highest import and export volume
In recent years, Vietnam is continuously in the group of 30 countries with the largest import and export value in the world.
Export record high
In December 2022, there was a very special event taking place in Vietnam’s seafood industry, which was the celebration of seafood import and export, which reached an astonishing 10 billion USD.
This achievement is a stepping stone for Vietnam’s seafood industry to become the third largest seafood importer and exporter in the world, accounting for 7% of the market share in the market economy, just behind China and Norway.
For the rice industry in 2022, many big goals have been set, which is to reach 6.3 million tons. However, in October 2022 alone, rice import and export volume reached more than 6.1 million tons and earned more than 3 billion VND.
For the manufacturing sector, the target must be $25 billion. In October, the export turnover of footwear and handbags alone reached over 23 billion USD.
That success must be mentioned in the first meeting with members of the company, when Mr. Nguyen Phu Cuong cum Chairman of the Board of Directors of Vietnam Chemical Group announced: “The record in 2021 of our Group has been surpassed in only the first 9 months”.
After many consecutive years, last year was the record year of Vinachem when for the first time in 50 years of establishment and development, the consolidated revenue of the company was approximately more than VND 50 billion and the profit reached nearly VND 4 billion.
With data updated to December, the value of industrial production and revenue of Vietnam Chemical Group have both exceeded VND 60,000 billion, an increase of more than 20% compared to last year. At the same time, the tax profit in 2022 was 6000 billion more than the previous year.
According to the assessment of the WTO – a ranking newly published by the World Trade Organization, Vietnam has continuously been in the group of 30 countries with the largest import and export value on a global scale.
Moreover, it is worth noting that when the ranking of ASEAN countries did not increase, the ranking of Vietnam has made many remarkable growth steps in recent years.
More specifically, in 2021, Vietnam’s export value of goods ranks 23rd in the world, this is a proud number and the value of goods imports ranks 20th in the world.
Why is import and export record high?
The question is, why is Vietnam’s import and export so high?
Firstly, according to an exchange with Assoc. Prof. Dr. Ngo Tri Long – Former Director of the Labor Market Research Institute, assessed: “We have had a lot of luck when there are 3 quarters in 2022 with dizzying growth because many industries reach the destination earlier than planned.
Secondly, according to survey results from the market, Vietnam currently has very good domestic product industry, even in terms of export and production capacity. Especially in the current context, it is easy to cause disruption in both supply and production materials, shortage of goods, and promote development of many businesses.
Thirdly, Mr. Tran Thanh Hai – Deputy Director of the Import-Export Department said: “Vietnam’s import and export results in recent years are proof that Vietnamese enterprises have been making good use of free trade agreements”.
There are still many difficulties to overcome
According to Mr. Phan Duc Hieu cum Standing Member of the Economic Committee, said that: Through the above data, we can see that Vietnam’s import and export of goods is growing very strongly, more prosperous.
However, besides that development, the coming time will also pose many internal and external challenges of continuously facing enterprises.
Therefore, in 2023, we must continue to implement and inherit the development in the import and export industry. Simultaneously, many solutions are proposed, keeping abreast of the difficulties of the business community to promptly offer methods to solve problems.
It is necessary to focus on fundamental issues such as public investment, solving newly arising problems, obstacles to avoid sudden and unpredictable solutions that make it difficult for businesses to adapt and change direction.
Mr. Phan Duc Hieu emphasized that we need to improve the domestic and foreign business environment. More specifically, pay attention to transparency and fairness towards high quality. Businesses themselves also have to be responsible, this is an opportunity, an opportunity to make a breakthrough.
Vietnam is in the top 30 countries with the highest amount of import and export goods, in the future is striving to become one of the top 5 developed countries in the current import and export industry.