Animal feed exports increase in 2020 The share of commodity group 1006 in total exports from Vietnam increased by 0.071 p.p. Vietnam sees reduction in rice exports | World Grain Total trade between the UK and Vietnam tripled in value from 2010 to 2019, standing at £4.8 billion for 2020 (ONS, 2021). Heng Chivoan. Research on Association of Southeast Asian Nations (ASEAN) Free Trade Area (AFTA) by Nguyen and Heo (2009) applied the fixed (FE) and random effects (RE) with this model to identify the AFTA's impacts on the total trade volume between Vietnam and . Rice exports soared as all big clients of Vietnam increased imports. Vietnam Economy: New Covid-19 Wave Creates Downside Risks ... Vietnam High tech exports - data, chart | TheGlobalEconomy.com Vietnam's smartphone exports reach more than $51 billion ... Vietnam | United States Trade Representative Exports Vietnam coffee exports in the first six months of MY20/21 fell by approximately 13 percent to 11 million bags, the lowest level in the past ten years, according to trade contacts. Major UK exports to Vietnam include pharmaceuticals, machinery and equipment. Up to now, Vietnam's tuna export to the market has not had any sign yet. Vietnam's textile-garment exports down in Jan-Apr 2020 ... ; Nearly all regions will suffer double-digit declines in trade volumes in 2020, with exports from North America and Asia hit hardest. production, and the biofuel industry. Vietnam Exports in Last 10 Years. In 2019, Vietnam exported a total of $280B, making it the number 20 exporter in the world. However, due to low domestic raw shrimp prices until the end of October 2020, shrimp farmers were not interested in producing new crops, leading to a shortage in supply of raw shrimp in . Page Content. He added that total paddy and milled-rice supply to domestic and international markets last year clocked in at as much as $3.82 billion, underscoring the Kingdom's . Vietnam possesses strong demand growth fundamentals Vietnam Photo courtesy of Toan Dao/SeafoodSource. Vietnam moved up four grades to become the second largest exporter to the US in 2020, with its export turnover to the country surging 24.5 percent to an estimated 76.4 billion USD. However, there are also some good signals from import markets such as Japan and Egypt. Let's check Vietnam export statistics of the last ten years. Inflation is expected to increase above 3% in 2020 and 2021. , Apr 16, 2021. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization. Vietnam's export of computers and electronic components of to Malaysia in March 2020 reached 35.9 million US $ , accounting for 1.0% of the country's share and accounting for 10.7% of the CPTPP sector, an increase of 1.0 % compared to the previous month but decreased by 4.1% compared to March 2019. The Kingdom's trade deficit narrowed 74.64 per cent to $1.37511 billion in 2020, from $5.42307 billion the previous year. Vietnam is the sixth largest market for Australian red meat and livestock exports, and is one of the fastest growing. In that year, the export value of phones and phone accessories reached over 51 billion U.S. dollars in the country. Notably, the share of smartphones in the nation's total exports last year declined to 18 per cent in 2020 from 30 per cent in the previous year, indicating that Vietnam's exports are becoming more diversified. In 2020, Vietnam's total export turnover increased by 6.5 per cent compared to 2019, of which exports by the domestic sector decreased by 1.1 per cent and the foreign-invested sector (including crude oil) increased by 9.7 per cent. The top three export markets of Germany, Italy, and the United States saw significant drops of 23.3, 18.5, and 17.9 percent During the 11-month period, Vietnam had 31 export items earning more than US$1 billion each, accounting for 92% of total exports, and six with over US$10 billion, or 64.3%. In 2020, phones and the related components exports had the largest turnover amongst Vietnam's major commodities exports, at approximately 51 billion U.S. dollars. With such annual growth, Vietnam is among the fastest growing economies in the world. USA holds the top position accounting for 23 % of the export with a value of 61 billion USD. 1 March 2021. Share of phones and phone parts exports in total exports in Vietnam from 2010 to 2020 Value of exports from Indonesia to Vietnam 2013-2020. In official reports, the US was the largest export market for Vietnam in 2020. During the last five reported years the exports of Vietnam have changed by $123B from $158B in 2014 to $280B in 2019. This page provides the latest reported value for - Vietnam Exports - plus previous releases . Get in touch with us now. Strong economic recovery continued in the first half of 2021, with GDP in the second quarter of 2021 rising by 6.6% year-on-year. Vietnam fulfilled the import and export targets of the 2011-2020 period ahead of schedule - despite the severe effects of the pandemic in 2020. For the period 2016-2021, Vietnam is expected to have the highest average growth rate in Southeast Asia at 17.4 percent, compared to the 6.1 percent in ASEAN. In 2020, the total value of exports from Vietnam to the European Union amounted to 34.42 billion euros. By the end of April 2020, Vietnam's total tuna export value reached US $ 196 million, down 16% compared to the same period in 2019. Agriculture represented 14% of GDP and employs 36% of the total workforce in 2020 (World Bank). COVID-19 buffeted Vietnam's economy in early 2020, resulting in layoffs and unemployment, decreased consumption, and a projected decrease in the country's growth rate. Vietnam's GDP growth in 2020 was 2.91%. The most recent exports are led by Broadcasting Equipment ($42.3B), Telephones . Despite being the lowest growth rate in the period of 2011-2020, this is a great success of Vietnam in the context of the Covid-19, which negatively affects all socio-economic fields. Vietnam Total Exports recorded 25.5 USD bn in Apr 2021, compared with 29.7 USD bn in the previous month. World merchandise trade is set to plummet by between 13 and 32% in 2020 due to the COVID-19 pandemic. Goods exports grew up by $ 16.8 billion in 2020 (the value of merchandise exports from Vietnam amounted to $264 billion in 2019) Exports | Vietnam Export destinations of commodities from Vietnam Open In the first 11 months of 2020, Vietnam's total export and import turnover reached USD 489.88 billion, up 3.6% over the same period last year. Table reflects only those months for which there was trade. Rank 2020 this month 8 Vietnam's total trade with the United States was $9.98 billion in October, a change of 14.20 percent from the same month one year ago. During the last five reported years the exports of Vietnam have changed by $123B from $158B in 2014 to $280B in 2019. Thailand's rice export volume is estimated to reach 5.7 million tonnes in 2020 with revenue of about 3.8 billion USD, down 12 percent year on year, according to Thai Rice Exporters Association . Electronic products—the country's top export commodity accounting for more than half of shipments to foreign buyers—shrank 7.6 percent to $36.98 billion in 2020. This page provides forecast and historical data, charts, statistics, news and updates for Vietnam Net Exports. 2020 marks a successful year for Vietnam exports Ngoc Thuy The US$300-billion export target set in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation. In contrast, in 2019, total export turnover increased by 8.1 per cent compared to 2018, of which Vietnam recorded a constant rise in total exports during the last five years. Goods exports totaled $9.9 billion; goods imports totaled $79.6 billion. Imports in Vietnam decreased to 29.80 USD Billion in November from 26.13 USD Billion in October of 2021. What is more jaw-dropping is that 6 GW out of the 9.3 GW was built in the last month of 2020; when the solar rooftop feed-in-tariff from the government was about to expire. The total import and export turnover in September 2020 were estimated at 51.5 billion USD, up 15% over the same period last year. This reflects the high growth of domestic production capacity, favorable investment, production and business . The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. Exporting to EU ranked second in turnover, reaching 3.6 billion USD; accounting for 12%, down 15%. However, smartphones continue to be Vietnam's most important export at the moment. Read more Total export value from . The Kingdom exported $17.21537 billion worth of goods last year, up by 16.72 per cent from $14.74874 billion in 2019, even as the Covid-19 pandemic upended the world . The impressive performance reflects the continuous efforts of the . Vietnam Steel Industry Report, 2020: Market Status, Development Environment, Imports & Exports, Major Manufacturers, Forecasts to 2024 January 29, 2020 04:23 ET | Source: Research and Markets As demand from Vietnam and other . In 2019, Vietnam exported a total of $280B, making it the number 20 exporter in the world. Vietnam Total Exports data is updated monthly, available from Jan 1997 to Apr 2021, with an averaged value of 4.9 USD bn. Major increase in the value of total export commodities recorded in the last two years when Vietnam did above US$ 200000 million of export business in the world. In 2020, Vietnam has set a target that the country's total import-export turnover will increase by 7-8 per cent on-year. overall export levels to its key export destinations. ; A 2021 recovery in trade is expected, but dependent on the duration of the outbreak and the effectiveness of the policy responses. continuing the results achieved from vietnam import-export report 2016, 2017, 2018, 2019 and continuing to implement the industry and trade sector's plan to implement the action program to implement the import-export strategy with a vision to 2030, implementing the project to improve the competitiveness of vietnam's export products to 2020, with … Net Exports for Vietnam from General Statistics Office of Vietnam for the GDP release. Vietnam Economy: New Covid-19 Wave Creates Downside Risks to Near-Term Outlook. In the context of a disruption in global trade, Vietnam's merchandise exports have experienced a positive increase. determinants of total export and agricultural commodity export, especially its rice export. Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in domestic demand, and strong manufacturing exports. In the first half of 2020, when foreign trade fell short of the target, the MoIT and other authorities made strenuous efforts to create the best conditions for import and export enterprises, while . In the first two months of 2020, Vietnam exported $430.5 million worth of rice, an increase of 31.7 percent in volume and 39.4 percent in turnover compared with the same period 2019. The major drivers of this development include a growing tourism industry, the emergence of low-cost carriers, and strong . Ten significant events in industry and trade in 2019. In 2020, exports to the EU reached 34.8 billion USD; notably, after 5 months of implementation (from August 1st , 2020), Viet Nam's total export turnover to the EU reached 15.4 billion USD, up 1.6% over the same period last year. In 2020, the total value of exports from Indonesia to Vietnam amounted to approximately 4.9 billion U.S. dollars. Meanwhile, the total import value was $6.39 billion . In 2020, the exports of textile and garment products from Vietnam decreased by ten percent compared to the year before, accounting for the first negative . The U.S. goods and services trade deficit with Vietnam was $68.0 billion in 2020. Most other export sectors . Vietnam has been a development success story. - Vietnam's total import-export turnover is again flying high, exceeding the $500 billion threshold. The import and export in Vietnam have also had positive signs as foreign businesses shift their operation to the country. Date: 2020. Therefore, the feed industry will Lower exports to the Philippines and Malaysia (down 53%) were partially offset by gains in China (12%), Ivory Coast (29%) and Ghana (28%). The economy of Vietnam is a mixed socialist-oriented market economy, which is the 37th-largest in the world as measured by nominal gross domestic product (GDP) and 23rd-largest in the world as measured by purchasing power parity (PPP) in 2020. In March 2020, Vietnam's textile and garment exports to Japan reached US$ 349.5 million, accounting for 14.9% of the national share and accounting for up to 75.5% of the CPTPP group, an increase by 25.2% compared to the previous month and by 9.1% compared to March 2019. Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing . 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