How Vietnam Import Data can boost your global sales?

 Vietnam is a beautiful country located in the southeast part of Asia. Vietnam is not just a place of interest for travellers but traders also. According to Vietnam Import Data 2020, Vietnam was the 18th largest importer in the world. 

Vietnam depends heavily on imports from the United States of America, China, Japan, South Korea, Malaysia & India. Some of the major imports of Vietnam are raw materials, Machinery, Electronic appliances, equipment, petroleum products, minerals, clothing, footwear, Iron steel, and chemical products.

 

An accurate trade data contains the list of leading importers & exporters of Vietnam, HS code, Product Description, quantity, port details, and shipping information. So, a well-organized import trade data can help you analyze global market trends and find potential buyers in that particular country. That will help you generate more product sales.

 

According to Vietnam Trade Data Statistics of 2020, Vietnam was the 37th largest economy in the world by GDP and 23rd as per Purchasing Power Parity. By the end of this year, Vietnam's imports might see a rise of 23.10 Billion USD. Vietnam's economy is continuously growing. It could be a great place for future investment and trading.

What are the main imports of Vietnam?

As per latest Vietnam import export data, the top 10 imports of Vietnam are

• Electrical Machinery, electronic equipment with a share of 34.30% (96 billion US$)

• Semiconductor devices, ICs, computer parts and accessories with a share of 9.60% (26.9 billion US$)

• Plastics, plastic products with a share of 5.40% (15.2 billion US$)

• Medical equipment, apparatus with a share of 3.60% (10 billion US$)

• Iron and steel with a share of 3.50% (9.8 billion US$)

• Minerals, petroleum products with a share of 3.10% (8.8 billion US$)

• Vehicles with a share of 2.50% (6.9 billion US$)

•  Knit or crochet fabric with a share of 2.20% (6.1 billion US$)

• Iron & steel articles with a share of 1.50% (4.2 billion US$)

• Cotton with a share of 1.40% (4 billion US$)

Who are the biggest importer partners of Vietnam?

As per Vietnam Import Data 2020, Vietnam imports estimated about 262.75 billion US dollars of goods and products. China has emerged as the leading trade partners of Vietnam followed by South Korea, Japan, Taiwan, USA, Thailand, Malaysia, Australia, and India. Detailed trade statistics of Vietnam’s top 10 importer partners is explained below:

• Chinese imports accounted for 84 billion US dollars with a 32% share.

• Korean imports accounted for 46 billion US dollars with a 17.9% share.

• Japan accounted for 20 billion US dollars in imports with a 7.75% share.

• Taipei, net with a share of 6.39% (16.7 billion US$)

• USA imports accounted for 13.7 billion US dollars with a share of 5.26%.

• Thailand accounted for 10.9 billion US dollars in imports with a 4.18% share.

• Malaysia accounted for 6.57 billion US dollars in imports with a share of 2.51%

• Indonesia accounted for 5.38 billion US dollars in imports with a share of 2.06%

• Australian imports accounted for 4.67 billion US dollars imports with a share of 1.78%

• Indian imports accounted for 4.48 billion US dollars imports with a share of 1.71%

What Vietnam Imports from India?

As per our Vietnam import database, Vietnam imports around 4.48 billion US dollars products from India. Top products that Vietnam Imports from India are – Iron and steel (1.14 billion dollars), Meat products (284 million dollars), Medicinal goods (260 million dollars), Cotton (258 million dollars), Electrical & Electronic products (247 million dollars), Sea foods ( fish, shrimps, prawns, etc.) (228 million dollars),  heavy machinery, boilers, reactors (197 million dollars), plastics or plastic articles (172 million dollars), oilseeds, grains, seeds, fruits (160 million dollars), vehicles (158 million dollars), chemical products (150 million dollars) and many more products.

If you are still thinking, what to export from India to Vietnam? Then, you can view our complete list of Vietnam Imports from India at Exim Trade Data.

Future of India Vietnam Trade Relations

India always shared strong trade relations with Vietnam. India also helped Vietnam with 2 lakh free doses of Covaxin Covid-19 vaccines during the pandemic. Also, India donated huge amounts of raw materials for manufacturing co-vid vaccines.

As per our latest global trade statistics, India and Vietnam are working together to strengthen their trade relations. The aviation sector, Mechanical sector, IT sector, Medical Sector, and Oil and gas sectors are among the top sectors to invest in.

Vietnam holds a great future for Indian importers. Demands for Indian products are continuously growing in Vietnam’s market. India can become the leading exporter to Vietnam. If you have genuine Vietnam Trade Data, you can find genuine buyers in Vietnam.

What does Vietnam Trade Data look like?

• A Typical Trade Data includes -

• Product’s HS Code

• Product Description

• Product Quantity

• Shipping Details

• Buyer’s name

• Suppliers Name

A Sample Vietnam Import Export Data looks like the data given below:

Why Choose Vietnam Import Data from Exim Trade Data?

Exim Trade Data gives its customers instant access to 100% real verified Vietnam Import Data. A genuine import data of Vietnam can help you give deep insights into the latest market trends, products in Demand, and leading importers, track and analyze your competitors.

 

After studying our trade data, you can plan, and implement a successful marketing strategy to outclass your competitors. After applying a data-driven approach to your marketing strategy, you can accelerate your business in Vietnam. More production means more profit.

 

As a leading Import Export Data provider company, we act as a comprehensive guide for your business and help you plan an impactful market strategy by mitigating risk. If you are looking for real verified data from more than 60+ countries, feel free to contact us at info@eximtradedata.com or call us at 91-9625812393.

Vietnam's export opportunities in 2022

 The epidemic has caused countless changes in almost every element of our existence. Despite the fact that our world is slowly returning to normalcy, the disruption has left many Vietnamese Exporters unsure of profitable items to export and how to build their online business in 2022.

This article looks at Vietnam's export prospects in 2022. We also go through the upcoming Regional Comprehensive Economic Partnership (RCEP), which is slated to go into force in January 2022, and the myriad opportunities it will provide for you as a seller in Vietnam.

Overview of Vietnam's exports in 2021 and prediction for 2022

The economy of Vietnam was hampered by a spike of the COVID-19 Delta version, which posed a threat to the country's stability. COVID-19's spoils caused the GDP to decline 6.17 percent in the third quarter of the year, the greatest shortfalls since the government started tracking the numbers.

Prior to the outbreak of COVID-19, the Vietnamese economy prospered because of a competitive minimum wage and low-cost utilities, which boosted foreign direct investment in the industrial sector. The epidemic hit the economy hard, but Premier Pham Minh Chinh spoke about the economy's growth prospects for next year, predicting a 6 percent to 6.5 percent increase in GDP.

Vietnam's export possibilities in 2022

Exporting to Vietnam has a number of advantages. Due to Vietnam's simplicity of registration, seamless legal entity, and flexible licensing permit criteria, you may be able to increase your profit as a vendor.

We look at four export prospects that have arisen as a result of Vietnam's export-friendly policies:

The setup is simple

You do not need to obtain separate export and import permits to trade as an eCommerce merchant interested in exporting items from Vietnam. If you wish to engage in the distribution of goods outside of Vietnam, all you need to do is set up a trading firm.

In comparison to other nations, this is a very cost-effective business setup because there are no minimum capital requirements. Find the proper items, sign up for an eCommerce site, and start making money.

Exemptions from export taxes

Unlike goods and services imported into Vietnam, most products and services exported from Vietnam are tax-free. Some commodities, however, are subject to export charges ranging from 0% to 45 percent. Natural resources, such as forest products, scrap metals, and minerals, make up the majority of these.

 Free Trade of Agreements (FTAs)

Vietnam is a member of ASEAN and has signed many Free Trade Agreements (FTAs) with major economies across the world. The newly enacted Regional Comprehensive Economic Partnership, on the other hand, is a mouth-watering arrangement that will leave many eCommerce retailers licking their lips with enhanced revenues. By January 1, 2022, the RCEP will be completely implemented. 2 This indicates that Vietnam has made progress in lowering trade barriers through improving market access for exporting commodities.

With 2.3 billion individuals actively participating, the RCEP claims a worldwide market size of $26.2 trillion in production. 3 According to the World Bank, nations participating in the RCEP will see a 1.5 percent boost in their gross domestic product (GDP).

The accord will usher in a new era in the global economy, with tariffs on exports being abolished to the tune of up to 90%. As a seller eager to explore eCommerce potential in Vietnam, you may be comfortable that you will optimize your revenue in 2022, knowing that you will only be parting with 10% or less of your earnings.

So, if you want to make the most money in 2022, you should try exporting textiles. Many industries, including electronics and consumer goods, textiles, agricultural, and fisheries products, are expected to benefit the most from the RCEP. 

Priority clearance through customs

Whether you're a large corporation or a small business looking to expand internationally, you may benefit from priority treatment. The priority tailored treatment program entitles you to a variety of advantages. Exemption from physical examination of items, the ability to submit incomplete customer declarations, and priority access to completing tax formalities are only a few examples.

Please note that after registering an incomplete customs statement or documentary proof in lieu of a customs declaration, you will be expected to submit the entire customs declaration within 30 days.

Priority custom treatment provides you a head start; as a result, you may begin conducting transactions even before you finish your custom paperwork when you apply for priority custom treatment.

In 2022, there will be five primary areas that will gain from Vietnam's product exports.

It might be difficult to pick which products to export, especially with the latest RCEP reforms. You must do thorough market research and make accurate forecasts about trending items. We realize how daunting this may be, which is why we've spent months studying the best items to offer as an exporter in Vietnam in 2022.

Mobile accessories and electronic components

In March 20214, the electronic sector earned a staggering $10 billion, making it Vietnam's top-performing export industry at the moment. This is equivalent to 21% of the whole cargo. The electronic industry is expected to continue to lead the way in 2022, thanks to the RCEP and Vietnam's continued interest in high-tech products.

Textiles

In 2021, the textile sector will account for 12% of Vietnam's total exports. In March 2025, that corresponds to about $2.5 million in income. We expect 2022 to follow suit, as Vietnam's key trading partners demand more sustainable clothing from the textile sector.

Products derived from agriculture and fishing

Vietnam is still a key agricultural and fisheries powerhouse in the world. The agriculture and fishing industry is predicted to grow to 6 million tonnes by 2026, according to research. 6 Global demand for Vietnam's aquaculture goods is driving the expansion in production.

Electronics and computers

By 2022, Vietnam will produce and export more computers and electrical goods than it does electronic components. It now makes up 7% of overall shipments.

With all FTAs, including the Regional Comprehensive Economic Partnership, about to go into full force in the coming weeks, 2022 will be the most important year for exporters. Companies, SMEs, and individual exporters have put in place all of the necessary measures to maximize income while paying lower export charges. As a savvy entrepreneur and exporter, now is the time to get a competitive advantage over your competitors by joining an eCommerce platform that offers all of the tools you'll need to succeed.

Connect with us at Exim Trade Data if your objective is to attain financial freedom in 2022 by taking your exporting business worldwide with tools and a ready-made audience for your products. We provide global trade data services and solutions that help you transform your products and services into brands and gain popularity among top brands and your potential competitors in the international import-export trade markets.