Which countries are the major export markets of Vietnam?
22/07/2023Which countries are the major exporting markets of Vietnam? Let’s find out with this article below.
China
China is not only the largest import market but also a major export market of Vietnam. This country is a neighbor of our country. When talking about this friend, we often think of the same lifestyle, style of dress, and eating habits.
Therefore, trade between the two countries often achieves impressive numbers and Vietnamese businesses still consider China as a very potential exporter.
Impressive numbers
In the first 2 months of 2022, import and export products between Vietnam and China have grown strongly by 58.6%, equivalent to 8.7 billion USD compared to the same period in 2020..
According to unpublished statistics from the General Department of Customs in March, Vietnam’s export turnover to China reached nearly US$8 billion, increasing 46.1% over the same period in 2020.
Although in recent times, the two countries have been heavily affected by the Covid-19 epidemic, making economic trade affected. However, in the long term, this is still a large market with potential customers.
Popular products
Here are the popular and commonly exported items to China:
Agricultural products: rubber, vegetables, cassava, tea/tea, coffee,
Seafood
Wood and wood products
Computer
Electronic products and components
Yarns, textile yarns of all kinds
Camera
Camcorders and accessories
Other machinery, equipment, tools and spare parts
Cell phones and accessories
Japan
The main trend affecting fruit and vegetable consumption in Japan is the population decline as well as the aging population structure. Along with that, the explosion of more convenient food has a big impact on fresh food. This is an opportunity for Vietnam to increase the export of agricultural products to this market.
A prominent feature in Vietnam’s exporting country is the difficulty in censoring food safety and hygiene before licensing it to this market. To set foot in this exporting country, it is necessary to study thoroughly standards to ensure quality.
Exports to Japan accounted for 10.26% of the total merchandise exports, which included many different items from agricultural products to textiles and electronics.
Popular items imported in Japan are:
Textiles
Vehicles and spare parts
Other machinery, equipment, tools and spare parts
Seafood products
Footwear
Computers, electronic products and components
Bags, wallets, suitcases, umbrellas
Ceramic products
Fruit and vegetable goods
Confectionery and cereal products
Cameras, camcorders and accessories
Textile fibers of all kinds
Products of rattan, bamboo and sedge mats
Cassava and cassava products
Korea
South Korea is Vietnam’s fifth largest importer. If only counting Ho Chi Minh City, this city witnessed a turnover of approximately $1.8 billion, accounting for 9.5% of Vietnam’s export value to Korea and 4.5% of the city’s total export value. Korea is also a big market for Vietnamese agricultural products and garments.
However, the product quality requirements to this market are also increasingly high and strict.
Some main products are exported to Korea:
Wood and wood products
Coffee
Rubber
Vegetable
Seafood
Rattan
Cassava and cassava products
Fertilizers of all kinds
Pepper
America
According to the General Statistics Office, in the first quarter of 2021, the US is Vietnam’s largest importer with a turnover of 21.2 billion USD, increasing 32.8% over the same period last year.
In general, the United States is an open market with a lot of potential products. The increasing purchasing power of the American people is a good sign for businesses who want to export here.
The main products of Vietnam exported to the US:
Textiles
Cell phones and accessories
Computers, electronic products and components
Footwear
Other machinery, equipment, tools and spare parts
Wood and wood products
Seafood
EU r
On June 30, 2019, Vietnam and the EU officially signed the EVFTA and IPAD, opening an era of strong trade between the two sides. The EU, with 27 member countries, is a major exporter, although there are still slight differences in culture and consumption habits between 2 parties.
Items that can be exported to the EU:
Footwear
Seafood
Plastics and plastic products
Coffee
Textiles
Hand bag
Suitcase
Vegetables
Rattan, bamboo and knitting products
Through the above article, readers have been answered questions about the big importing country of Vietnam, right? If you have any questions, please leave a question so we can help you promptly.
