Textiles, Footwear and Headgear are the major export commodities of Vietnam. Vietnam is ranked among the top five textile exporters and second largest footwear exporter in the world. Experts predict that textiles and footwear exports from Vietnam could reach 108 billion US Dollars by the year 2025. Almost 70% of Vietnam's population is engaged in the textiles and footwear business. According to the Vietnam import export data reports, Vietnam textiles exports were around 24 billion US Dollars in 2022. While it was around 21 billion US Dollars in 2021. These include knitted fabrics, cotton fabrics, plastic coated fabrics, woven fabrics etc.
Vietnam exports by country data shows, the majority of garment exports were to the United States, Japan and the European Union. Dony Garments is the leading garment export company from Vietnam. Phuoc Son Garment, Thu Thuy Manufacturer, Huynh Gia Fashion and Vinh Thinh An Trading are other top Vietnam export companies.
On the other hand, Vietnam footwear and leather exports were worth 26 billion dollars in 2022. As per the Vietnam customs data, the United States, China, Belgium, Japan, and Germany were the top nations importing leather and footwear from Vietnam.
Sahara International and Golden Star Company were the top Vietnam export companies of footwear in 2022. Other major Footwear export companies from Vietnam are Mai Nguyen Fashions, Quoc Dinh Trading and Saigon Shoes Joint Stock Company.
Vietnam Trade Analysis 2022
Vietnam is an important ASEAN country. As per the Vietnam trade data reports, Vietnam is currently ranked 20th largest importer and 23rd largest exporter in the world. In the fiscal year 2022, Vietnam's trade surplus exceeds 750 billion US Dollars.
According to the Vietnam import data, there was around a 10% increase in imports from China worth 108 billion US Dollars. Whereas, as per Vietnam export data reports, the majority of Vietnamese exports were to the United States worth 100 billion US Dollars.
Exports to the United States rose by 30% in the financial year 2022. Vietnam's garments, textiles, footwear, headgear, mobile phones, computers, and electronics goods were the top gainers in terms of export revenue.
Our Vietnam export data reports suggest that European Union Countries accounted for the maximum imports of coffee and iron steel from Vietnam. Other major importers of Vietnam were South Korea and Japan with 44 billion imports of Vietnamese goods.
Vietnam is an emerging market posing a serious threat to China. Investors are moving to Vietnam for manufacturing as it offers cheap labour and quality work. Vietnam will see a significant growth in its import export and will become a trillion dollar economy by 2025.
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