Import from Vietnam

Vietnam’s goods and services exports now constitute over 80 % of Vietnam's GDP up from a 30 % share recorded in the mid-1990s. Exports from Vietnam amounted to US$186.8 billion in 2015, up 92.8% since 2011 and up 24.4% from 2014 to 2015.

Vietnam’s top 10 exports accounted for over three-quarters (77.2%) of the overall value of its global shipments. Leather, textile and rubber footwear were among the 20 highest value Vietnamese export products in 2015. The most valuable Vietnamese exports also include hi-tech products such as mobile phones, computers and computer accessories. Crude oil is another area where Vietnam’s supply exceeds domestic demand and generates product-level surpluses, as is the case for both men’s and women’s clothing.

The US remains Vietnam’s largest export market (19.1 %), followed by China (9.9 %), and Japan (9.8 %). Australia was the eighth largest export market in 2014 at 2.7 %.

Please see the Highest Value Vietnamese Export Products

Importing & Sourcing Opportunities

Vietnam is considered as an emerging destination of sourcing for materials &manufacturing products as well as outsourcing for offshore services by taking advantages of its competitive resources to integrate Vietnam into the global supply chains through a growing network of free trade agreement:

  • Vietnam’s export-oriented manufacturing sector is fast transforming with emerging new trends. Major foreign retailers have been expanding operations and opening new offices in Vietnam for sourcing products from Vietnam over the past few years. Categories sourced span from handicrafts, indoor/outdoor furniture to textile and footwear, then expanding in kitchenware, tableware and electronics, agricultural products.
  • Prominent manufacturing sectors for sourcing from Vietnam include textile, garments, furniture and electronics. Over the past few years, manufacturing in Vietnam has taken an upturn, with renowned international firms such as Samsung Electronics, Intel and Siemens setting up factories in the country. This makes it attractive for manufacturers to manufacture in Vietnam as it can integrate Vietnam into its existing supply chains.
  • Agriculture is fading as the most important economic sector in Vietnam as it employs more than half of the population. Agriculture is still the main source of raw materials for the processing industries and a major contributor to exports. Vietnam’s main agribusiness industries are seafood, rice, coffee, fruit and vegetables, and meat – all targeted for ambitious growth through to 2020.
  • Vietnam’s services sector is growing fast with some major sub-sectors include banking and finance, insurance, tourism, and offshore services such as data, Business Process Outsourcing (BPO), and IT. Vietnam is a world leader in emerging markets, reaching Tier 1 In Gartner’s Leading Offshore Service Destinations 2015 report, alongside China and India. Building on its expanded pool of university graduates, Vietnam has the potential to become one of the top ten locations in the world for offshore services. The Government support through provision of tax incentives keep Vietnam high in the list of outsourcing destinations.

The US remains Vietnam’s largest export market (19.1 %), followed by China (9.9 %), and Japan (9.8 %). Australia was the eighth largest export market in 2014 at 2.7 %.

Sourcing Guide

Vietnam Briefing                 Developing Your Sourcing Strategy for Vietnam

Hinrich Foundation            Sourcing from Vietnam

Supply Chain Digest            Understanding the Options for Sourcing from Vietnam

Damco e-Guide                    Sourcing from Vietnam – Opportunities & Challenges

CIO, IDG                              Why Vietnam is an attractive IT offshoring destination

Source of Vietnam’s Export-Import Statistics

Vietnam’s Customs Trade Statistics                                Trade statistics of Vietnam

Eneral Statistics Office of Vietnam                                 Import-Export Turnover

International Trade in Goods                                            ITC Trade Map

United State Census Bureau                                              U.S. trade in goods with Vietnam

Trading Economics                                                             Export  & Import