Vietnam ranks in top 11 largest exporters globally
From being a minor exporter prior to 2013, Vietnam rose to number eleven in the global rankings of top exporters by 2023, emerging as a surprise player in global trade.
Cai Mep - Thi Vai Port in Ba Ria-Vung Tau province. (Photo: VNA)
Hanoi (VNS/VNA) - From being a minor exporter prior to 2013, Vietnam rose to number eleven in the global rankings of top exporters by 2023, emerging as a surprise player in global trade.
According to the World Trade Organisation (WTO), Vietnam has advanced significantly in import-export rankings, now standing second in ASEAN, trailing only Singapore.
Phung Thi Lan Phuong, an expert from KTP FTA Consulting, highlighted how Vietnam became one of the four fastest-growing exporters globally between 2019 and 2023, alongside India, Canada, and China. This achievement is credited to the Government's robust economic integration strategy, signing 16 FTAs and opening markets with nearly 60 partners.
Phuong emphasised that these FTAs have attracted foreign direct investment (FDI), created jobs and spurred internal reforms. However, FDI enterprises account for 70% of export turnover, while the domestic value-added (DVA) rate is only 52%, below the global average.
Notably, in the first ten months of 2024, the domestic economic sector saw robust growth, achieving a rate four times that of the FDI sector. The export-import turnover share of the domestic sector rose to 32% of the country's total.
The increasing share of the domestic sector marks a turnaround after a long period of decline and dependence on FDI. In 2015, the domestic sector contributed 35.4% to the nation's total turnover, by 2024, it had risen to 32%, with further growth expected.
According to the WTO, Vietnam ranked 50th in exports and 44th in imports in 2006. By 2021, it had climbed to 23rd in exports and 20th in imports worldwide. Within ASEAN, Vietnam is second in goods exports and imports, following Singapore.
🐼 Despite maintaining a trade surplus since 2012 (except in 2015), Phuong noted that value-added in trade remains modest. To enhance this, Vietnamese businesses must improve capabilities, reduce reliance on imported materials, deepen their participation in global value chains and take on higher-value roles./.
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Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
