Whether it is EXW . Some large footwear companies have been gradually shifting their business from China to other countries with lower production costs, such as Vietnam. You can also peruse the greatest increases or decreases in product values from 2019 to 2020. In 2019, electronic and electrical exports took up 36 percent of total exports from Vietnam (Vietnam Briefing). Official websites use .gov This site contains PDF documents. Vietnams food export industry concentrates on agricultural food, seafood, and livestock. Below is the list of ( 4) most exported products by Vietnam- all those products and their sub-categories offer great export-import business opportunities. Looking for a manufacturer in China, Vietnam, India or Thailand? ECVV_logo. Shopping products represent 48 of Vietnams top 100 imported consumer goods. ImportGenius has been making this data available at your fingertips since 2008. Our team can verify their business license, test reports, and company certificates to assess their status and risk level. Our Company uses these cookies to collect information about how you use a website, like which pages you visited and which links you clicked on. By Reuters Staff. Specialty Products describe another consumer product type. Below are some of the top exported footwear products from Vietnam: Some of Vietnams international footwear trade fairs include: The countries that import the most footwear from Vietnam in 2019, in descending order, are: List of Shoes & Footwear Manufacturers in Vietnam. Vietnam has become a major U.S. trading partner and an important source of clothing, shoes, furniture, agricultural goods and machinery. Investopedia, Consumer Goods, Consumer Staples Definition, Fast-Moving Consumer Goods (FMCG). Below, you will find major supplying countries for Vietnams imported: Phones: China (55.1% of total), South Korea (38.2%), Japan (1.7%), Thailand (1.2%), Hong Kong (1%), Philippines (0.5%), Finland (0.4%), Taiwan (0.3%), United States (0.3%), and Mexico (also 0.3%). Therefore, a majority of these manufacturers offer custom-made services to bulk buyers who are looking for wooden furniture made of acacia, rubberwood, and bamboo. Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent). The most important wood in the wood processing sector is timber and logs - most of which come from domestic suppliers. 2 Min Read. The 2020 total was US$928.7 million, a decline of 11% from that of 2019. An example of data being processed may be a unique identifier stored in a cookie. She currently works as a content editor for Chinaimportal.com. Examples of convenience products are food, alcoholic or non-alcoholic drinks, and soap. For Buyers: You can import products at production costs, which is approx. U.S. Department of Commerce If the product is under list of appendix 1- Circular 30/2015/TT-BYT, It needs to attain a medical equipment import Permit. Add-ons are optional services not included in the Asia Import Platform. It is all aggregated and, therefore, anonymized. These brands include Simone, Prada, and Fjllrven. Textiles and Garments In this respect, the 5 most common Vietnamese imports into EU were telephone sets & components (9.76 %), footwear (4.6 %), textiles & garments (3.42 %), electronics-computers accessories (2.78 %) and coffee (1.15 %). Vietnam stands 41st on the list of world's leading economies by GDP share. Vietnam Imports 2022 data reports suggest that Vietnam imports had increased by 4.9% in the month of september. Continue with Recommended Cookies. These could include what language you prefer and location you are in. Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent). Vietnam facilitates an automatic import licensing system that requires importers of a wide category of goods to obtain a license from MOIT to get their goods through customs. Hence, Vietnam's export commodities are increasingly replaced by more advanced technical equipment. Distribution rights for these entities are opened to joint venture investment with no limit on capital contribution, and since 2009 have been opened to wholly foreign invested enterprises. Import Prohibitions Vietnam is famous for designing and exporting the following types of furniture: Some of the furniture trade fairs in Vietnam include: Below are the top 5 countries to which Vietnam exported its furniture products in the year 2020: List of Furniture Manufacturers in Vietnam: 8 Leading Factories. Plastic products made in Vietnam have been exported to over 150 markets in the world, such as: USA, Japan, Cambodia, Laos, Thailand, China, India, Middle East, Africa, EU Agricultural. Learn how to import products from China and Southeast Asia during this free 30-minute session. Under the ATIGA, the import tariff on gasoline from ASEAN nations is at 20%, and at 5% for diesel, kerosene and fuel oil. Worlds Top Exports, Vietnams Top 10 Imports. This category includes a wide variety of products, like furniture, toys and games, musical instruments, art, and arms and ammunition. Therefore, we can help your business export products . Vietnam imports a variety of products from its neighboring countries via the air and seaways. These are examples of top machinery and parts exported from Vietnam: Trade fairs for machinery products in different industrial sectors include: These are the top 5 countries to which Vietnam exports its machinery and parts: The export turnover of Vietnams auto parts and components industry reached USD 6.7 billion in 2020 (Statista). The product categories cover apparel, undergarments, gloves, and other types of textile products. (See Trade Barriers section for further details.). An all-in-one platform to help you take your go from idea to product manufacturing in China, Vietnam, or India. The U.S. goods trade deficit with Vietnam was $69.7 billion in 2020. Have questions? Basics of Import-Export. The main imports are machinery and equipment, petroleum products, fertilizer, steel, cotton, grain, and motorcycles. Find more detailed statistics of Vietnam's major imports products by HS Code, total import value and total import share in the below table. Preferential import tax rates from China (ACFTA): 0 (-ID, MM, PH)%. The top U.S. imports from Vietnam are electric machinery and equipment, apparel and footwear, furniture, industrial machinery, fruits and nuts, leather goods, fish and iron and steel. Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). Examples of these shopping goods range from insecticides to computers. Convenience products are uniquely non-durable consumer products. According to the Vietnam customs reports, Vietnam has gained fast development in exporting plastic products with annual rate of more than 10%. Among the top 100 consumer products imported by Vietnam, 74 increased in total value from 2019 to 2020 whereas 26 declined. 4,347 $ / TON FOB. According to the Vietnam Leather, Footwear and Handbag Association (Lefaso), the export volume of handbags has reached USD 4 billion in 2020. Goods that meet the minimum standards can be imported upon demand and in unlimited quantity and value. The country has attracted many multi-billion corporations to set up production there, including LG, Apple, and Nintendo. In other words, if there are any differences in a cosmetic product's shape, color, or ingredients, all variations need to be registered as separate items. These financial accomplishments showcase Vietnam as a promising consumer market for international sellers of imported goods. Few suppliers also import laminated wood from China. She has also worked as a merchandiser in the garment industry, where she gained expertise in material sourcing and production management. With the improving manufacturing infrastructure, Vietnam is becoming a competitive option for manufacturing many popular products. Plastic and Rubber Goods Vietnam's export value of rubber and plastic goods reaches more than US$5 billion per year. The average annual GDP growth of Vietnam in the year 2019 was 7.02%. Choose quality made in vietnam products manufacturers, suppliers & exporters now - EC21. 187/2013/ND-CP, Vietnam currently prohibits the importation of a few products, including: weaponry, ammunition, explosive (excluding industrial explosives), military technical equipment (The Ministry of National Defense shall publish a list of goods with HS codes in the Import and Export . Vietnam mainly exports the following processed food or unprocessed food products: Here we list some of the food and beverage exhibitions held in Vietnam annually for international buyers: The top countries to which Vietnam exports food products include: Machinery, mechanical appliances, and parts thereof occupy around 6.7% of Vietnams total export volume in 2020. Vietnams furniture manufacturing industry is heavily concentrated in Binh Dinh Province, where it is renowned for its tropical hardwood resources. That type of steel, from a high-end EU based steel brand, can be sourced easily in China. Vietnam has become an ideal place for foreign investors offering promising investment opportunities. Nearly one-third (31%) of every U.S. import from Vietnam is categorized as Miscellaneous. These are processed petroleum oils, miscellaneous items made from plastic, and medications. This means that when you visit another website, you may be shown advertising based on your browsing patterns on our website. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business . Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Business entities, including foreign invested enterprises with a legally registered business license, may be engaged in direct import and export activities. Electronics and gadgets are imported in high quantities that account for 12.2 percent of the import goods. China and South Korea were amongst the top import partners of Vietnam as per our Vietnam import data by country. Vietnam imports mostly from China, South Africa and Japan. Imports of goods and services represent the value of all goods and other market services received from the rest of the world. The commodity value amounted to around USD 18.8 billion (CEIC Data). Durable consumer products are goods like cars, trucks, printing machinery, insulated wire or cable, and furniture that last a relatively long time. These suppliers provide bags that are made of textiles, bamboo, sea-grass, rattan, and other types of materials. There is no doubt about the fact that Vietnam is one of the fastest-growing economies in the world. Direct access to our data from your apps using any programing language. Anti-parasite products, agriculture. Vietnam produces and exports a wide variety of electronics, including broadcasting equipment, telephones, integrated circuits, and video displays. When importing PVC film covering plaster ceiling panels to Vietnam, the importer needs to pay import duty and value added tax (VAT). Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). vietnam Export Shipment to india 143256. Padlocks and locks (key, combination or electrically operated), of base metal; clasps and frames with clasps, incorporating locks, of base metal; keys for any of the foregoing articles, of base metal. The export value of Vietnams furniture is USD 11.3 billion, ranking after China, Poland, and Germany (Statista). South Korea and Japan are the two biggest buyers of Vietnams automobile products. Vietnam Imports -2022. Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent). Although there may be a few wealthy individual buyers, products like turbojets are excluded from the consumer products targeted by this study. As for countries it has FTAs with, Vietnam has further levied different import tax rates over 2015-2018 under three agreements, namely: the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN-China and the ASEAN-Korea FTAs. 7 With a population of over 95 million and Southeast Asia's fastest-growing middle class, Vietnam clearly represents a key market for foreign goods. Among these footwear factories, more than 800 of them belong to foreign direct investment (FDI). Many large brands in the apparel and textile industry have set up factories or work with subcontractors in Vietnam, including Adidas, H&M, and Fjllrven. Vietnam - Prohibited & Restricted Imports. Vietnam's most popular product type is shopping products (SP) led by imported phones including smartphones, lower-voltage switches or fuses, items made from hot-rolled iron or non-alloy steel, electrical converters and power units, computer parts or accessories, insulated wire or cable, and automobile parts or accessories. Some major automobile manufacturers from these two countries have invested in production facilities in Vietnam, including Toyota, Honda, Ford, Nissan, and Kia. Vietnam Exports and Imports of Product Groups Top 5 Products exports imports at HS 6 digit level Tariff and Trade Barriers for Vietnam Tariffs 2020 Overall Trade Restrictiveness Index (OTRI) OTRI Services Service Policy Restrictive Database (SPRD) SPRD Services Trade Restrictions Index - Over All 41.50 Non-Tariff Measures (NTM) 2015 What are the top 3 imports of Vietnam? If the product is not listed under prohibited imports and exports under Decree No. Global Products; Global Manufacturers; india Import Shipment to vietnam 3828. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page. Vietnamese coffee- great export/import opportunity In 1857, coffee trees were planted by Catholics in Vietnam.
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