5 Most Profitable Products To Export From Vietnam

Vietnam import export data

Vietnam is the 38th largest economy in the world. Vietnam is ranked 4th largest economy amongst Asian countries. For the fiscal year 2021, Vietnam's top exports products were Electrical, Electronics, Footwear, Textiles, and Pharma products etc.

Vietnam's top trading partners were the United States, China, South Korea, Japan and Hong Kong. Samsung Electronics and Intel products were the top exporter companies of Vietnam.

Currently, Vietnam is the 18th largest exporter in the world. Vietnam is the most profitable market to invest in. If you are looking to expand your business in Vietnam, then this blog will help you find the top products that you can export from Vietnam.

5 Most Profitable Products to Export from Vietnam

Electronics Products

Electronic Products are the most exported products from Vietnam. As per the Vietnam export data of 2021, Vietnam electronics products exports totaled around 130 Billion US Dollars. In 2022, Vietnam electronics products exports increased by 27%. Past eight months, Vietnam exports reports suggest that their total export value was 77 Billion USD. 

China, South Korea, the United States and the European Union were the major importers of Vietnamese Electronics Products. The top  electronic companies were LG, Samsung, and Foxconn. Due to quality, durability and cost-effectiveness, Vietnam’s Electronics market is seeing rapid growth. Vietnam is a serious threat to China.

Telephones

Vietnam was the second largest exporter of Telephones in the world. China, Hong Kong, Brazil and India were the top importers of Vietnam in 2021. As per Vietnam trade data 2021, Vietnam shipped over 231 million units of phones and around 577 trillion units of phone components.

Vietnam contributes around 13% of the global smartphone market share. Vietnam is also the second largest smartphone manufacturer in the world. Vietnam mobile phones exports were around 33 billion USD.

On the other hand, mobile phone accessories exports reached 23 billion US Dollars in 2021 that was 9% more as compared to the fiscal year 2020. In the future, these statistics might increase.

Textiles & Clothing Accessories

Vietnam is the 3rd largest exporter of textiles in the world. As per Vietnam customs data reports, Vietnam’s textile exports will be worth 38 Billion US Dollars in 2021. Vietnam shipment data in 2022 suggests that its textile exports were around 45 billion US dollars.

The major textile & clothing accessories importers from Vietnam were the United States of America, China, South Korea and European union nations. Currently, there is a rise in Vietnamese textile exports to African countries, Mexico and Russia.

Footwear

Vietnam is the second largest export market of Footwear products. Vietnam's footwear export market has expanded to over 100 countries. As per Vietnam footwear exports data, Vietnam exports were around 17 billion USD in 2021.

The United States of America, Japan, South Korea and China were the leading importers of footwear products from Vietnam. Various top brands have set up their industries in Vietnam. These include top brands such as Puma, Nike, Adidas and Reebok.

In the fiscal year 2022, Vietnam footwear exports were up by 13%. Experts predict that it could reach up to 20 billion USD.

Machinery

Vietnam is the 15th largest exporter of Machineries in the world. According to the Vietnam exports reports, the United States, China, Japan, Russia and South Korea were the major machinery importing countries from Vietnam.

In the financial year 2021, Vietnam’s machinery exports were around 95 billion US dollars. Vietnam's major machinery exports products include office machine parts, circuit boards, headphones, microphones, and broadcasting equipment.

On the other hand, Vietnam import data reports suggest that Vietnam's machinery imports were from the United States, South Korea and China. Vietnam’s machineries exports could increase by 10% in 2023.

Unlock opportunities with Exim Global Trade Intelligence System

Exim GTIS is an effective market research tool made for businesses. You can discover 200+ countries import export data reports and make successful marketing strategies. Through our Vietnam trade intelligence reports, you can find the latest imports, exports, price forecasts, buyers and suppliers list. It can help you get genuine business leads from the Vietnamese market. 

Go to the offical website : Global import export data provider

Comments

Post a Comment

Popular posts from this blog

Germany, "The leading cheese importer in the world"

Image
  Germany is the world's biggest cheese exporter. Although, during last year, Germany's cheese exports declined by 7% to 36 million pounds. According to Germany import export data reports, Germany's cheese exports were recorded to be $6 billion during the financial year 2023. Italy was the top destination for Germany's cheese exports in 2023 accounting for over $1 billion worth.  Along with Italy, Netherlands and France were other major importers of cheese from Germany for over $750 million and $480 million worth of cheese imports. Among the fastest growing markets for Germany's cheese exports were Austria, Spain, Belgium, Romania, Greece and Poland responsible for significant growth in cheese imports. Gebruder Woerle Ges, Uhrenholt, and Bayernlan were the top cheese export companies from Germany with maximum number of shipments last year. Caseificio Ghidetti from Italy, Lactima from Poland, Quillayes from Chile, and Kosmonte foods from Kosovo were the top cheese i
Read more

Turkey's wire rod exports fell by 55% in 2023

Image
  Turkey is a prominent steel industry. It is the 8th largest importer of steel globally. Whereas, it is ranked 4th leading steel exporter in the world. Steel industry covers over 8.3% share in Turkey’s overall exports.   As per Turkey customs data reports, the country’s overall steel exports were estimated to be around $19.6 billion during 2022. However, it fell by 17% as compared to $23 billion in 2021. The European Union holds the maximum share in Turkey’s steel exports.   In 2022, the EU imported around 5.9 million tonnes of steel from Turkey with over 25% share. After European countries, Turkey exports the majority of its steel to North Africa and Latin American nations. Whereas per Turkey import data , the country’s steel saw a minimal increase of 1.5% as compared to last year. During 2022, Turkey steel imports stood around $18 billion while it was $17 billion in 2021. Turkey's major steel exports commodities includes rebar, angels, sect profiles, wire rod, alloy bars, wires
Read more

India's yarn exports fell by 15% in 2023

Image
  India is a prominent yarn exporter in the global market. India is the second largest yarn exporter in the world after China. According to the India import export data reports, India was responsible for over $7.3 billion worth of yarn exports against the $15 billion exports from China. Bangladesh is the leading importer of Indian yarn followed by Vietnam and Peru.  India’s yarn exports include various commodities like cotton, silk, RMG, apparel accessories. In terms of cotton exports, India has always been an important market. It was a top exporter destination for many years. But during the fiscal year 2022, India has become the 5th biggest cotton exporting country in the world.  As per India export data , India was responsible for over 250 MT of cotton exports in 2022. There was a massive decline in the country's cotton exports. As, the exports are falling to 30% on a yearly basis. During the first six months of 2023, the country's exports were estimated to be $1.3 billion w
Read more