Vietnam is one of the emerging economies in Asia registering some of the highest growths in the history of the country. Among the reasons for such rapid expansion, the trading industry plays and important role. Vietnam is one of the largest exporters in the region. At global level, Vietnam is the 24th largest exporters. In terms of imports, Vietnam ranks 27th worldwide.
Foreign investors who want to set up trading companies in this country can rely on our company formation services in Vietnam.
The most imported products in Vietnam
Most Vietnam companies rely on technology, therefore, it is no surprise that the most imported products by businesses here electronics, among which office equipment such as telephones, computers and computer parts are the most common.
On a larger scale, Vietnam imports other commodities, such as:
– crude oil;
– petroleum products;
Vietnam also imports certain agricultural products which are used in the food manufacturing industry.
What products does Vietnam export?
Vietnam is home to large trading companies which rely on the products they export or import and then re-export. Among the most exported products by Vietnam companies are:
– crude and refined petroleum;
– food products, among which fish and crustaceans are very successful;
– electronic equipment.
If you are interested in starting a trading company in this country, our Vietnam company registration advisors can assist you.
Vietnam’s trading partners
During the last few years, Vietnam has become a serious competitor for China thanks to the lower prices companies here offer on commodities upon export. However, China remains one of Vietnam’s most important trading partners, together with other neighboring countries such as Thailand and Malaysia. In the same region, Vietnam has good trading relations with Singapore, the Philippines and Japan. At the moment, approximately 80% of the goods exported by Vietnam are sent to other Asian countries.
Another important trading partner for Vietnam is the European Union which mainly imports textiles and garments from the Asian country.
For assistance in starting an import-export business, please contact our company formation representatives in Vietnam.