TOP 10 EXPORT PRODUCTS FROM VIETNAM TO THE WORLD
ECONOMY OF VIETNAM – A QUICK LOOK
Vietnam is a vibrant country, now
known as the Socialist Republic of Vietnam, which is located in the
Southeastern part of Asia with a total land area of 311,700 km2. Vietnam is the
16th most populated country in the world with a total headcount of
almost 100 million people as per the statistics released in the year 2020.
Vietnam shares its territorial boundaries with China, Laos, and Cambodia.
As stated above, apart from being a
vibrant economy, Vietnam is also one of the fastest-growing countries in the
world as in the current scenario, many big companies and firms are investing in
Vietnam due to its cheap and efficient labor force. The country is one of the
honorable members of various global groups like ASEAN, CPTPP, APEC, OIF, and
WTO.
Moving towards economic growth and
dependence of Vietnam, the country was largely dependent on the agricultural
sector with its primary focus on the cultivation of rice, bauxite, and aluminum
till a few years back. Now the major strength of Vietnam’s economy is
manufacturing, IT, and highly sophisticated industries. Moreover, Vietnam is
the 3rd biggest oil producer in Southern Asia with a production of
318,000 barrels/day. Based on Vietnam Trade Data at
that time, Vietnam exported crude oil to the US the most and on the other hand,
Chinese goods were the favorite imports to Vietnam.
TOP 10 EXPORTS FROM VIETNAM TO THE
WORLD IN THE YEAR 2021
After going through the past trends
of the country, we are now going to share the statistics for the latest year,
2021. According to Vietnam Export Data for the year 2021, the country
exported total goods costing USD 335.82 billion. although numerous items were
exported from the nation, the highest exports were recorded for the following
10 products:
·
Electrical machines like sound recorders and televisions (USD
131.38 billion)
·
Mechanical appliances, boilers, and nuclear reactors (USD
24.10 billion)
·
Footwear (USD 18.23 billion)
Clothing items and garments (USD
15.73 billion)
·
Furniture, mattresses, and bedding (USD 13.83 billion)
·
Iron and steel products (USD 11.93 billion)
·
Raw and finished plastic items (USD 7.37 billion)
·
Small sea animals like fish and mollusks (USD 6.30 billion)
·
Rubber products (USD 6.13 billion)
·
Eatables like nuts, fruits, and melons (USD 5.50 billion)
Apart from these top 10 items, other
items mentioned in Vietnam
Export Data for the year 2021 were light automobiles, wood products,
precision tools, and beverages.
TOP 10 EXPORT PARTNERS OF VIETNAM IN
THE YEAR 2021
Just like the top 10 export products,
the Vietnam Export Data also recorded the top 10 nations to whom these
products were exported the most. Based on the information provided by the Vietnam
Export data 2021, the top 10 export partners of the nation are:
·
The United States (USD 96.32 billion)
·
China (USD 55.92 billion)
·
Korea (USD 21.93 billion)
·
Japan (USD 20.11 billion)
·
The Netherlands (USD 7.68 billion)
·
Germany (USD 7.28 billion)
·
India (USD 6.25 billion)
·
Thailand (USD 6.06 billion)
·
The United Kingdom (USD 5.76 billion)
·
Canada (USD 5.26 billion)
Other than these top nations, other
countries that also imported items from Vietnam in 2021 were the UAE,
Australia, Indonesia, Italy, and Malaysia.
FINAL VERDICT OF TRADEIMEX INFO
SOLUTION PVT. LTD.
In the end, we just hope that the
information you were looking for across the web is fulfilled by us. In the
context of the blog, we would like to state that Vietnam is a country whose
population is mostly young and energetic. There are a lot of opportunities and
avenues waiting for the nation in the upcoming future as every now and then new
things are getting innovated in Vietnam and there is a year-on-year growth
observed in the foreign trade numbers which is also a good sign of a developing
economy as the nation is building strong trade and foreign relations across the
globe which shows the hunger of expansion and growth.
PROFESSIONAL ADVICE
We hope you would have liked our
informative report about the top 10 export products from Vietnam in recent
times accompanied by the top 10 export partners of Vietnam as of 2021.
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