The influential economy Vietnam is kindly one of the leading import trade destinations across the world because of its rising domestic growth, evolution in industrialization, manufacturing growth, diversifying energy resources, and Foreign Direct Investments. The dominating industries like energy resources hold a majority share of 18% of the total annual import revenue, with a substantial contribution from the industrial necessities and consumer rates. Electronics and machinery are other key factors that have accounted for a significant share of the import trade rate because of the vast manufacturing industries present in the nation.

Apart from the products leading the import trades, when it comes to the growing global trade rank of the nation, the GDP of the country stands at a staggering value of 380 billion US dollars in 2023 with an import and export trade rate of 250 billion US dollars and 350 billion US dollars. Vietnam Trade Data says the country’s growing import trade rates reflect the continuous efforts of the government and trade management authorities for the sustainable growth of the growing economy by maintaining a proper balance between the domestic demands and the effective productivity rates of the industries.

Top Imports / Domestic Acquirements of Vietnam in 2023

The growing domestic necessities of the nation and the rapid surge in consumer rates have boosted the staggering import trade accounting for a significant share of the total annual revenue of the nation. As per the Vietnam Import Data, the top import trade destinations of the nation in 2023 are discussed below,

• Electronics (HS code - 96) – Import trade cost rate of Electronics imports 2023 – 67 billion US dollars.

Subcategories

1. Integrated Circuits
2. Computer Parts
3. Telecommunication Equipment
4. Audiovisual Equipment
5. Electronic Components

• Electronic Machinery (HS code - 84) – Import trade cost rate of Electronic Machinery imports 2023 – 33 billion US dollars.

Subcategories

1. Electrical Machinery
2. Nuclear Reactors & Boilers
3. Machinery Parts
4. Industrial Machines
5. Agricultural Machinery

• Petroleum products (HS code - 27) – Import trade cost rate of Petroleum products imports 2023 – 31 billion US dollars.

Subcategories

1. Crude Oil
2. Refined Petroleum Products
3. Liquefied Natural Gas (LNG)
4. Liquefied Petroleum Gas (LPG)
5. Asphalt

• Plastics (HS code - 95) – Import trade cost rate of Plastics imports 2023 – 18 billion US dollars.

Subcategories

1. Plastic packaging materials
2. Plastic housewares
3. Plastic raw materials
4. Plastic toys & games
5. Plastic furniture

• Iron and steel (HS code - 72) – Import trade cost rate of Iron and steel imports 2023 – 15 billion US dollars.

Subcategories

1. Flat-rolled products
2. Iron or non-alloy steel bars
3. Wire rods
4. Wire products
5. Tube & Pipe fittings

• Machinery (HS code - 84) – Import trade cost rate of machinery imports 2023 – 12 billion US dollars.

Subcategories

1. Electrical Machinery
2. Industrial Machinery
3. Computers and Office Machinery
4. Mining Machinery
5. Textile Machinery

• Vehicle Parts (HS code - 87) – Import trade cost rate of vehicle parts imports in 2023 – 10 billion US dollars.

Subcategories

1. Engines and Engine Components
2. Transmission Systems and Gearboxes
3. Braking Systems
4. Suspension and Steering Parts
5. Electrical and Electronic Components

• Gold (HS code - 71) – Import trade cost rate of gold imports in 2023 – 9 billion US dollars.

Subcategories

1. Gold Bullion
2. Gold Jewelry and Ornaments
3. Gold Coins
4. Gold Alloys
5. Gold in Semi-Manufactured Forms

• Cars (HS code - 87) – Import trade cost rate of cars 2023 – 8 billion US dollars.

Subcategories

1. Sedans
2. SUVs
3. Luxury Cars
4. Electric Vehicles
5. Pick-up Trucks

• Iron Ores (HS code - 26) – Import trade cost rate of iron ores 2023 – 7 billion US dollars.

Subcategories

1. Hematite Ore
2. Magnetite Ore
3. Limonite Ore
4. Siderite Ore
5. Iron Ore Pellets

Top 10 Importing Companies of Vietnam in 2023

Accompanying the consumer rates, the companies demanding goods are the factors behind the growing import trade rates of the nation. As per the Vietnam Import Customs Shipment Data, the top 10 imported products of the nation in 2023 are discussed below,

• Samsung Electronics Co., Ltd
Import Market Value – 50 billion US dollars.
Import Sector – Semiconductors, Electronic Components and Display Panels.

• PetroVietnam (PVN)
Import Market Value – 40 billion US dollars.
Import Sector - Crude Oil, Refined Petroleum Products and Liquefied Natural Gas.

• China Petroleum & Chemical Corporation
Import Market Value – 30 billion US dollars.
Import Sector - Crude Oil, Natural Gas, and Refined Petroleum Products.

• Viettel Group
Import Market Value – 25 billion US dollars.
Import Sector - Telecommunications Equipment, Mobile Devices and Accessories.

• LG Electronics Inc
Import Market Value – 20 billion US dollars.
Import Sector – Semiconductors, Display Panels and Lithium-ion Batteries.

• Honda Motor Co., Ltd
Import Market Value – 15 billion US dollars.
Import Sector - Raw Materials, Auto Parts, and Components, Technology, and Electronics.

• Nestle Vietnam Ltd
Import Market Value – 10 billion US dollars.
Import Sector - Raw Ingredients, Packaging Materials, Flavoring and Additives.

• Intel Products Vietnam Co.
Import Market Value – 9 billion US dollars.
Import Sector - Silicon Wafers, Semiconductor Manufacturing Equipment, Chemicals and Gases.

• Nike Inc
Import Market Value – 8 billion US dollars.
Import Sector - Footwear Components, Apparel Fabrics, Manufacturing Equipment.

• Unilever Vietnam International Co.
Import Market Value – 6.5 billion US dollars.
Import Sector - Personal Care Products, Household Cleaning Supplies, and Food and Beverage Ingredients.

Import Trade Statistics of Vietnam for the Last 10 Years

1. Import trade value of Vietnam in 2013 – 148 billion US dollars
2. Import trade value of Vietnam in 2014 – 168 billion US dollars
3. Import trade value of Vietnam in 2015 – 162 billion US dollars
4. Import trade value of Vietnam in 2016 – 178 billion US dollars
5. Import trade value of Vietnam in 2017 – 213 billion US dollars
6. Import trade value of Vietnam in 2018 – 222 billion US dollars
7. Import trade value of Vietnam in 2019 - 250 billion US dollars
8. Import trade value of Vietnam in 2020 - 245 billion US dollars
9. Import trade value of Vietnam in 2021 - 260 billion US dollars
10. Import trade value of Vietnam in 2022 – 300 billion US dollars

FAQ’s

Que. What is the import trade value of Vietnam in 2023?
Ans. The import trade value of Vietnam in 2023 is 380 billion US dollars.

Que. Name the top Vietnam import of 2023.
Ans. The top Vietnam, import of 2023 is electronics.

Que. Where can you get a detailed trade analysis of Vietnam's import in 2023?
Ans. At Import Globals, you can get a detailed trade analysis of Vietnam imports in 2023.

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