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Turnover of major export commodities Vietnam 2019

As of September 2019, phones and the related components exports had the largest turnover amongst Vietnam’s major commodities exports, at approximately 38.6 billion U.S. dollars. The listed commodities made up 59.2 percent of the nation's total export turnover, valuing over ten billion U.S. dollars in total.

Vietnam – An export-driven country

Vietnam had greatly increased its volume and value of international trade since implementing economic reforms, or Đổi Mới in 1986. After Đổi Mới, the country witnessed its first trade surplus in 2012 at around 750 million U.S. dollars. In 2018, Vietnam’s worldwide exports grew by 7.1 percent, reaching a total export value of over 242 billion U.S. dollars. The country’s main export partners include the United States, the European Union, China, Japan and South Korea.

International trade agreements

In 2019, Vietnam signed several significant trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA), which led to the reduction of tariffs and customs duties for both Vietnam and the European Union, as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which not only gave Canada access to the Vietnamese market, but also facilitated the integration of Vietnam in the global value chain.

Turnover of major export commodities in Vietnam nine months into 2019

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Sources

Release date

October 2019

Region

Vietnam

Survey time period

9M 2019

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