Viet Nam among 30 largest commodity import-export economies

The country's trade ranking has improved constantly over the years, making a continuous presence in the group of countries and territories boasting the largest import and export value.

Viet Nam’s trade with the rest of the world hit US$100 billion for the first time in 2007. After four years, the figure increased to US$ 200 billion in 2011, US$ 300 billion by late 2015, and US$ 600 billion by late November, 2022. By mid-December 2022, Viet Nam’s total trade turnover is expected to reach US$700 billion. 

Although the ranking of ASEAN member countries has yet to increase over the past few years, Viet Nam’s ranking has made remarkable progress.

Viet Nam was the 23rd biggest exporter of goods and 20th importer of goods last year.

Since 2019 the country has been placed second in ASEAN, surpassing both Thailand and Malaysia, only standing behind Singapore.

The Vietnamese economy has significantly evolved over the past three decades thanks to the introduction of the foreign policy of multilateralization and diversification of foreign relations, which has help the country to fully tap into further opportunities for trade, investment, integration, and technology transfer, as well as economic development.

Since1995, Viet Nam started comprehensive integration into the world as it officially joined ASEAN, the ASEAN free trade area (AFTA), and the World Trade Organization (WTO), as well as normalizing diplomatic relations with the U.S./.