According to the Vietnam Export Data, Vietnam has been experiencing remarkable growth in its economy and import-export trade sector in the recent years. Vietnam is currently ranked as the 21st largest export country in the world . The major attribute that boost the Vietnam economic growth are its thriving manufacturing and agricultural growth. The country's strategic location, competitive labor costs, and investor-friendly policies have also
Vietnam's strong performance in exports has also had a positive impact on its Gross Domestic Product (GDP). In fact, Vietnam's GDP growth rate has consistently been above 6% for the past few years and is projected to reach around 7% in 2022. This impressive economic growth can be attributed to various factors such as favorable government policies, foreign investments, and increasing domestic consumption. The growing population presents both opportunities and challenges for Vietnam. On one hand, it provides a large workforce which can drive economic growth through increased productivity. On the other hand, it also puts pressure on resources such as housing and healthcare services.
Vietnam exports a wide range of products that gives significant export revenue in the recent years. However, some product remains top in the list in terms of values and demand such as phones and computers that heavily exports from Vietnam . Other major products that exports from Vietnam includes textiles and garments, footwear, and agricultural products such as coffee, rice, and seafood.
Both in Import and Export China has reliably been Vietnam's top trading partner with a significant portion. Other top export destination of Vietnam are The United States and Japan However, Vietnam is actively seeking to expands its trade relationships with other territories in south east Asia and Africa.