Every major economy in the world indulges in transactions like imports and export with other countries. Countries aim at generating a sufficient amount of profits through the increased value of exports and decreased level of dependence on value and volume of imports from other countries of the world. Every major economy indulges in trade transactions for earning profits which in turn can be used for generating job opportunities for citizens. Vietnam is considered the 21st largest export economy in the world which indulges in both export and import transactions. Vietnam, an emerging economy in Asia, has a GDP of $223 billion making it one of the most profitable economies generating a sufficient amount of returns through their exports. Online import export trade data provided by various companies can help reveal the position which the country enjoys in the world trading market. One can easily analysethe performance in terms of volume and value of imports and exports of Vietnam Through such data.
Value and volume of exports from the country to other parts of the world:
Vietnam has exported to $220 billion worth of Products from its country to other parts of the world. Broadcasting equipment, telephones, integrated circuits, textiles, leather footwear, furniture, and other essential items are exported from the country to other parts of the world. Out of all the products broadcasting equipment account for 14% of the total value of exports from the economy.
Value and volume of imports from the country:
Wait Naam is considered as 21st largest importer in the world with a total value of transactions worth $204 billion. Integrated circuits, telephones, electrical parts, machinery, refined petroleum, corn, wheat, and other necessary products are imported from other countries in the world. Out of all the products mentioned, integrated circuits account for almost 8% of the total value of imports valuing $15.6 billion worth.
Vietnam is going through a positive and lucrative face with a so plus trade balance worth $100 million. According to the latest import-export data available online, Vietnam’s total exports valued at $18.6 billion recording 34% increase as compared to previous years. Moreover, the value of imports in the year 2020 has increased by 26% valuing $18.5 million Making it one of the most lucrative and profitable economies in the world.
Major export destinations in which the country exports its products or China, the United States of America, Japan, Germany, and South Korea. The United States of America accounts for 21% of the total value of exports worth $46.2 billion. On the other hand, Vietnam imports from China, South Korea, Hong Kong, Japan, and Singapore. 50% of the total value of imports that is $205 billion worth of products comes from China and South Korea.
Vietnam exports more than 200 Products from which country to other parts of the world. Moreover, the country enjoys a better position and competitive advantage as compared to other countries in the world in the global export and import market. Detailed import export statistics and information reveal the level of performance and trade volume which the country enjoys through its sincere efforts and lucrative policies. One can find such information through online websites like importglobals.com.