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Vietnam Merchandise Exports

Vietnam Merchandise Exports

Merchandise Exports in Vietnam

Merchandise exports in Vietnam were worth USD 372 billion in 2022, a significant rise from USD 132 billion ten years earlier, with an average growth rate of USD 233 billion over the last decade. For more exports information, visit our dedicated page.

Vietnam Merchandise Exports Chart

Note: This chart displays Exports (USD billion) for Vietnam from 2015 to 2014.
Source: State Bank of Vietnam.

Vietnam Merchandise Exports Data

2018 2019 2020 2021 2022
Merchandise Exports (USD bn) 244 264 283 336 372
Merchandise Exports (ann. var. %) 13.3 8.4 7.0 18.9 10.5

Merchandise exports accelerate in January

Merchandise exports soared 42.2% year-on-year in January, following December’s 13.1% upturn. January’s result marked the fastest outturn since April 2021. However, the data was flattered by a low base effect, as exports plummeted in January 2023 amid Lunar New year celebrations—which this year fall in February. Looking at subsectors, the crucial electronics and textile industries saw rapid expansions in the month, driving the headline reading. Meanwhile, merchandise imports jumped 33.5% in annual terms in January (December: +12.3% yoy), marking the strongest reading since June 2021. As a result, the merchandise trade balance improved from the previous month, recording a USD 2.9 billion surplus in January (December 2023: USD 2.3 billion surplus; January 2023: USD 0.7 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 30.1 billion surplus in January, compared to the USD 27.9 billion surplus in December.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Vietnamese merchandise exports projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Vietnamese merchandise exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Vietnamese merchandise exports projections.

Want to get access to the full dataset of Vietnamese merchandise exports forecasts? Send an email to info@focus-economics.com.

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