In 2024, Vietnam's export-based economy showed notable expansion in a number of areas. The nation became one of Asia's top exporters in part because of its capacity to draw in foreign direct investment (FDI), take advantage of trade agreements, and preserve political stability. Strong international demand for Vietnamese goods and effective use of global supply chain opportunities are shown by the export increase of 14.3% over 2023, according to the Import Globals study on Vietnam Export Data.

The deliberate drive to digitize logistics and customs processes, which greatly cut down on exporters' time and expenses, was a key factor in this success. Trade operations were further expedited by Vietnam's emphasis on infrastructure development, which included the growth of deep-sea ports and logistics centers.

Vietnam's Export Landscape: Insights for 2024

Export Products and Their Compositions

Vietnam exports a wide range of manufactured items, agricultural products, and high-tech components, demonstrating its diverse export profile. The top ten export categories for 2024 are as follows:

Computers, electronics, and parts consist of laptops, tablets, electronic circuits, and other computer components. According to Import Globals' Vietnam Export Data, this category grew by 25% as a result of foreign investment in high-tech production and worldwide demand.

Mobile phones, smartphones, and their parts - They are referred to as phones and components. For well-known companies like Samsung, Vietnam continues to be an essential manufacturing location.

Textiles and Garments: Clothing made by knitting and weaving, including shirts, pants, and designer clothes. With an 11.2% gain, this historic export strength is still strong.

Footwear: Sandals, athletic shoes, and leather shoes. Long-standing commercial relations with the US and the EU are advantageous to this industry.

Machinery and Equipment: These include equipment, mechanical tools, and industrial gear. According to Import Globals analysis of Vietnam export data, increased industrial activity was the reason for a 16.2% increase.

Wood and Wood Products: Boards, processed wood products, and wooden furniture. A 20.3% increase was attributed to design innovation and environmental sustainability.

Fruits and Vegetables: Mangoes, dragon fruits, and processed foods are examples of fresh produce. As the demand for tropical fruits grew globally, exports jumped by 27%.

Rice: Comprises white, glutinous, and jasmine rice types. The favorable market pricing helped to sustain the 23.1% gain.

Coffee: Arabica and robusta beans, both roasted and raw. Vietnam continues to be the second-largest exporter of coffee worldwide.

Cashew Nuts: Cashew nuts, raw and shelled.

Top Countries Importing from Vietnam in 2024

Vietnam’s outstanding export success is largely owed to its smart worldwide collaborations. According to the Import Globals analysis on Vietnam exporter data, the United States continued to hold the top spot, importing about 30% of Vietnam's total exports, mostly furniture, textiles, and electronics. The following were the major export destinations in 2024:

Navigating the Future: Export Trends and Predictions

Several encouraging trends have influenced Vietnam's export environment in 2024. Growth in high-tech manufacturing: sustained foreign direct investment and expansion in computing and electronics goods. Green and sustainable production: A research by Import Globals on Vietnam Import Export Trade Analysis, there is a growing emphasis on producing goods in an environmentally responsible manner, particularly textiles and wood items. Agro-product boom, such as exports of rice, coffee, fruits, and vegetables, has increased at record rates. Increased access to international markets via the EVFTA, RCEP, and CPTPP.

The Vietnamese government anticipates export growth to continue into 2025, but at a more moderate pace of 7-9%, contingent on geopolitical stability and global economic recovery, according to the report on Vietnam Import Export Trade Data by Import Globals. Key strategies include developing digital commerce infrastructure and increasing exports of value-added commodities.

Vietnam is investing in blockchain-based tracking systems, AI-powered logistics, and digital customs declarations to increase efficiency and transparency in order to maintain this momentum.

Strategic Challenges: A Path to Innovation and Growth

Despite the encouraging numbers, Vietnam's export industry encountered several difficulties, per a report by Import Globals on Vietnam Trade Data:

- Demand and logistics are impacted by geopolitical tensions (such as the Russia-Ukraine conflict and the U.S.-China trade war).

- High transportation and logistics expenses, particularly for exports of agricultural products.

- Changes in the price of raw materials and inflationary pressures.

- Shortages of skilled workers, especially in the high-tech industry.

- Reliance on businesses with foreign investments, which made up more than 72% of total export revenue.

According to the Import Globals study on Vietnam Import Export Trade Data, Vietnam needs to:

- Invest in the diversification and robustness of your supply chain.

- To improve workforce skills, improve vocational training.

- Encourage digital change and innovation in conventional industries.

- Improve the branding of Vietnamese-made goods in international markets.

- Encourage domestic firms to build export capabilities.

In order to reach more people worldwide, the government is also attempting to enhance the business environment, streamline administrative processes, and increase e-commerce capabilities.

Conclusion

Vietnam export data by Import Globals demonstrates its proactive trade strategy and economic resiliency. The nation is establishing itself as a major global provider of machinery, textiles, electronics, and agricultural products, with a record export turnover of $405.53 billion. Moving forward, continuing investment in technology, infrastructure, and skilled labor will be crucial to maintain this rising trend and confront looming global economic issues.

Vietnam will continue to be an important participant in global supply chains in the long run thanks to its emphasis on digital innovation, trade diversification, and green growth.

If you are looking for detailed and up-to-date Vietnam Export Data, you can contact Import Globals.

FAQs

Que: How much did Vietnam export overall in 2024?
Ans: In 2024, Vietnam exported goods worth a total of $405.53 billion.

Que: What was the most valuable product category in terms of exports?
Ans: With $71.7 billion, electronics, computers, and components came in first place.

Que: Who is the biggest export partner of Vietnam?
Ans: The United States, with $119.6 billion in exports.

Que: Which agricultural exports are expanding the fastest?
Ans: Rice (+23.1%), coffee (+28.9%), and fruits and vegetables (+27%).

Que: What are the main obstacles facing Vietnam's exports?
Ans: Dependency on foreign-invested businesses, labor shortages, high logistics costs, and geopolitical tensions.

Que: Where to obtain detailed Vietnam Export Data?
Ans: Visit www.importglobals.com or email info@importglobals.com for more information on up-to-date Vietnam Export Data.

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