The overall trade story of Vietnam has been truly transformative over the past few years. The greatest evolution can be considered as the modification to a diversified export hub from a low-cost manufacturing hub. The vast production of electronics and textiles, to seafood and agricultural commodities, has been a significant contributing factor towards the export market reach. The optimisation of the latest techniques opted for trade evolution has been an enlightening factor for the positive trade expansion of the stakeholders. Let's have a deep dive into the role of Vietnam in shaping trade ideas with Import Globals Vietnam Import Data and Vietnam Export Data.
WHY IS VIETNAM TRADE DATA CONSIDERED ESSENTIAL FOR BUSINESS GROWTH?
The trade overview of Vietnam is considered essential for business growth because of the robust economic development and the strong integration of the nation into the global supply chain. The country positioned in Southeast Asia has been serving as a major gateway to most countries, like China, Japan, and Asian countries, while offering reliable access to international consumers. The active participation of the nation in multiple free trade agreements, like EVFDA, has reduced tariffs while opening up marketing opportunities.
The low labour cost and the improvement in infrastructure are backed up by the expanding manufacturing sector of Vietnam. The stable political environment of the nation and the pro-trade government policies have promoted a feasible business climate. The digital transformation and e-commerce expansion, along with the actionable insights regarding the trade, help different enterprises identify the market trends and the emerging export opportunities. The diversified trade performance of Vietnam makes it an indispensable hub for global businesses while promoting sustainable growth and expansion in the Asia-Pacific region.
VIETNAM IMPORT OVERVIEW: A COMPREHENSIVE TRADE ANALYSIS
The import market of Vietnam has set up a competitive standard for the leading importers worldwide with its diversity and cost-effective trade revenue. The imports from the domestic sector have increased by 19.5% while the ones initiated by the foreign-invested enterprises have increased by 15.1%. The raw materials and industrial output have reflected the strong demand for production, while the import of coal and other mineral fuels has increased the power generation. China has solidified its position as a topmost sourcing destination of the import revenue, along with which the rising import level has contributed to the global outpaced export growth. Import Globals has predicted that the import growth of Vietnam will continue at a slightly moderate rate in the upcoming years.
Foreign direct investments, along with the ongoing supply chain shifts and infrastructure and energy investments, will be the most prominent contributing factors. Due to the strong consumer base demand, the country has attained an annual import trade value of 385 billion US dollars in 2024, with a significant increase of 15.7% from the previous year. The strong opportunity in supplying machinery, electronic components, and raw materials, along with the competitive pricing strategies set up by the government authorities for attracting foreign investors, has maintained the sustainable growth rate.
THE EXPORT MARKET OVERVIEW OF VIETNAM: TRADE INSIGHTS OF 2024
The ongoing development of the manufacturing units and the foreign-invested enterprises has promoted the export trade growth rate of Vietnam. Due to the severe investment made by the government authorities in the infrastructure revolution, the country has attained an annual export trade value of 410 billion US dollars in 2024, with a year-on-year growth rate increase of 14.3% from the previous year's export valuation. The domestic enterprises accounted for 28.3% of the total exports, while the foreign-invested enterprises contributed around 12.3% of the total export revenue.
Several commodities like electronics, computers, components, mobile phones, and other raw materials have accounted for more than 30% of the total export revenue generation, while industrial output dominates the other sectors. Due to the ongoing investments of the manufacturing units, the country is expected to acknowledge a growth rate of 13.8% to 14.0% in the first half of 2025. The continuous expansion of electronics and high-value manufacturing, along with the export diversification via trade agreements like CPTPP, will contribute to the increase in the export growth rate.
WHY CHOOSE IMPORT GLOBALS FOR BUSINESS EXPANSION?
Import Globals, with its reliable, comprehensive importexport data form, has empowered the strategies of different enterprises regarding analysis of the international markets. The company provides granularized insights of import and export information with crucial details, like ImportDate, Importer Name, Importer Address, Exporter Name, Exporter Address, HS Code, ProductDescription, Quantity, Values, Prices information, Origin Country, Destination Country, Port of Loadingand Port of Unloading, etc.promoting the identification of potential buyers and suppliers, which helps them track the emerging trade trend. The data-driven insights highlighted in the platform help the business authorities make decisions based on pricing, sourcing, and market entry strategies.
The major advantages of Import Globals' real-time customs data are that it helps the authorities gain transparency into competitors' activities while promoting the high-performing sectors' alignment as per the global market dynamics. It helps the stakeholders assist the global changes of trade in accordance with new opportunities for export diversification and supply chain optimization. It helps the companies build stronger international networks while expanding their trade footprint.
CONCLUSION- The brief information on Vietnam's import and export data is considered a pivotal tool for business holders who are looking for active insights and evolving trade dynamics of the nation to stay competitive in the global trade market. Import Globals Vietnam customs shipment data enables the authorities to identify the profitable markets while analysing the consumer demand. It also promotes the tracking of trends across different sectors. Subscribe to Import Globals, the leading Vietnam import export trade provider, to stay updated with the latest information regarding the trade forum of Vietnam for making decisions based on sourcing, pricing, and investment strategies.
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