Vietnam Import Data

OVERVIEW OF VIETNAM’S ECONOMY AT PRESENT Vietnam is an energetic nation which is situated in the Southeastern piece of Asia with an estimated land area of about 311,680 km2. Vietnam is the sixteenth most populated country on the planet with a complete headcount of very nearly 100 million individuals according to the measurements delivered in the year 2020. Vietnam imparts its regional and geographical limits to China, Laos, and Cambodia. As expressed above, aside from being a lively economy, Vietnam is one of the quickest developing countries on the planet as in the ongoing situation, many enormous organizations and firms are putting resources into Vietnam because of its modest and proficient workforce. The nation is one of the fair individuals from different worldwide gatherings like CPTPP, ASEAN, OIF, APEC, and the World Trade Organization (WTO). Moving towards monetary development and reliance of Vietnam, the nation was generally subject to the farming area with its essentia...

  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 16 th 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 fe...

Vietnam, presently formally known as the Communist Republic of Vietnam is a country that is located in Southeastern Asia. With a land area of 311,699 square kilometers, the nation possesses 96 million individuals, making it the fifteenth most crowded country on the planet. Vietnam imparts its lines to various nations, in particular, China, Laos, Cambodia, Thailand, and the Philippines are the major countries with whom Vietnam shares its borders. VIETNAM TRADE DATA INSIGHTS FOR THE YEAR 2020 Before mentioning the current market condition of Vietnam, let’s understand what past trends have to say about Vietnam Import Export Data with respect to the values of total imports and exports to and from the nation. So, as per the Vietnam Trade Data for the year 2020, the country exported goods worth USD 281,441 million and imported goods worth USD 261,309 million, leading to a trade surplus of USD 20,132 million for Vietnam. The top 5 export products to Vietnam as per Vietnam Export Data ...

  WHY HAS VIETNAM BEEN PREFERRED OVER CHINA IN RECENT TIMES? One of the main reasons behind the decline in trade opportunities in China is the rising cost of procuring and manufacturing goods accompanied by expensive labor costs. Many businesses have ditched China and switched to Vietnam for their further deals. The decline in opportunities for China is happening very rapidly and in recent years, the speed has increased even more. Numerous businesses have already shifted their manufacturing and processing work to Vietnam. Vietnam is transforming slowly into a full-fledged global manufacturing hub as it has been selected by many businesses now over China. For example, the Pearl River Delta located in China was known as the most important center for the manufacturers of the world in the past but now the same factory is proving to be very costly for the manufacturers and as a result, they are leaving here and searching better alternatives in Vietnam. On comparing the labor cha...

Both the countries, India and Vietnam share a very strong and happy relationship in terms of trading goods and commodities. The bilateral trade relationship between the countries grew further and started getting known as a “Strategic Partnership” after the visit of Mr. Nguyen Tan Dung who was the Prime Minister of Vietnam in the year 2007. Moving ahead, after the visit of Mr. Narendra Modi in the year 2016, this bilateral trade popularized as a “Comprehensive Strategic Partnership”. Due to this strong political and financial bond between the two nations, bilateral trade is growing every year. As per Vietnam Trade Data for the duration from April 2021 to March 2022, the trade between countries grew by almost 27% and touched a mark of USD 14.14 billion. Total imports made by Vietnam in this period as recorded in Vietnam Import data are USD 6.70 billion (34% increase) and on the other hand, total exports from Vietnam to India for the same period as recorded in Vietnam Export Data wer...