According to the ranking of the World Trade Organization (WTO), Vietnam is continuously in the group of 30 countries and territories with the largest import and export value on a global scale.
Vietnam’s trade ranking has continuously improved over the years, making Vietnam continuously present in the group of countries/territories with the largest import and export value.
"Total import and export value for the first time reached $100 billion in 2007. Four years later, it doubled to $200 billion. In the next 4 years, Vietnam’s import and export also reached $300 billion by the end of 2015 and $600 billion by the end of November 2022."
"By mid-December, the total import-export value of Vietnam reached $700 billion."
According to the World Trade Organization (WTO) ranking, Vietnam is continuously inside the group of 30 countries territories and has the largest import and export value of goods on a global scale.
It is noteworthy that while the ranking of ASEAN countries has not increased in the past few years, the ranking of Vietnam has made remarkable progress.
Specifically: In 2021, the export value of goods ranked 23rd in the world, and the import value of Vietnam’s goods ranked 20th in the world. Accordingly, since 2019, Vietnam ranked second in ASEAN, surpassing both Thailand and Malaysia and only behind Singapore.
The General Department of Customs said, n1995 marked the process of opening up and deepening integration of Vietnam with the world, officially joining the Association of Southeast Asian Nations (ASEAN), joining the ASEAN Free Trade Area (AFTA), making an application to join the World Trade Organization (WTO) and the normalization of Vietnam-US relations.
For almost 30 years Vietnam’s economy has made strong changes, step-by-step implementation of the foreign policy of multilateralization, and diversification, taking advantage of the possibility of trade cooperation, investment, integration, technology transfer, and economic development of the country.
Export and import turnover of Vietnam from 1995 to 2021
Source: General Department of Customs
Import and export activities already exist in strong, continuous strides to achieve record milestones. BILLIONThe import-export value in 2007 reached USD100 billion, but only 4 years later (2021) it doubled, reaching USD200 billion. During the next 4 years (2015), Vietnam’s imports and export reached USD300 billion.
In a very short time, only 2 years later (in the middle of December 2017), total import and export value has reached USD400 billion. After that, every 2 years, the total import and export value of Vietnam increased by USD100 billion, the import and export value reached the milestone. USD500 billion in the second half of December 2019, and reached the milestone of USD600 billion in November 2021.
By mid-December 2022, the total import-export value of Vietnam will reach USD700 billion.