An important ASEAN nation is Vietnam. Vietnam is currently the 20th largest importer and the 23rd largest exporter in the world, according to trade statistics reports. Vietnam's trade surplus will exceed 750 billion US dollars in the fiscal year 2022.
Vietnam Trade Data show a 10% increase in imports from China totaling 108 billion US dollars. While the majority of Vietnam's exports, worth 100 billion US dollars, went to the United States, according to reports on export data from Vietnam.
In the fiscal year 2022, exports to the US increased by 30%. The top export earners for Vietnam were clothing, textiles, footwear, headgear, mobile phones, laptops, and electronics products.
Our reports on exports from Vietnam assert that imports of coffee and steel from Vietnam came primarily from countries in the European Union. South Korea and Japan were two other significant buyers of Vietnamese commodities, accounting for 44 billion in total imports.
A significant danger to China comes from the developing market of Vietnam. Vietnam is attracting investors because it provides affordable labour and high-quality work for manufacturers. By 2025, Vietnam's economy will be worth a trillion dollars and its import and export volumes will increase significantly.