What products does Vietnam export to Europe
Made in Vietnam - Vietnam's most exported goods
As a new production location for electronics next to or instead of China, a currently popular choice, which in addition to low manufacturing wages also has a young, educated population.
Electronics are Vietnam's most exported commodity in 2019. The electrical engineering exports, which have risen sharply in the past, accounted for around 36.7% of total exports. The country's second most important export industry is the textile and clothing industry. The total exports amounted to a total of around 236.4 billion euros (2019). Click here to go directly to the TOP 10!
The main export destinations of Vietnam
As in the past five years, the USA is by far the most important destination for Vietnamese exports and has been closely linked economically, especially since the Vietnam War. The East Asian states of China, Japan, South Korea and Hong Kong follow as Vietnam's next most important export partners.
1. USA: € 54.8 billion (23.2% of national exports)
2. China: € 37.0 billion (15.7%)
3. Japan: € 18.2 billion (7.7%)
4. South Korea: € 17.6 billion (7.4%)
5. Hong Kong: € 6.4 billion (2.7%)
The most important individual exports from Vietnam
Mobile phones, as a component of electrical engineering, are by far the most important single export good from Vietnam with an export value of 30.5 billion euros or 1/8 of the country's exports for 2019. In addition to Japanese and Chinese companies, South Korean mobile phone giants such as Samsung and LG in particular leave there for the world market manufacture certain mobile devices.
1. Mobile phones: € 30.5 billion
2. Parts of cell phones and wireless network devices: € 15.8 billion
3. Electrical circuits and semiconductors: € 9.4 billion
4. Sports shoes: € 4.8 billion
5. Microphones: € 4.0 billion
The emerging electronics sector in Vietnam
Like most of the East Asian countries - including in particular those Confucian countries - Vietnam has comparatively low natural raw material deposits and relies on an export orientation in economic policy, in which in the first phase foreign currency surpluses are generated through low-wage manufacturing by foreign multinational companies intended for the world market, which the state should preferably invest in education and infrastructure. Multinational companies are currently responsible for around 90% of all Vietnamese exports.
Today electronics and electrical engineering is Vietnam's main export sector alongside the textile sector, which generates at least 36.7% of the country's exports. Nominal electronics exports have more than doubled since 2015. This was due not least to the sharp rise in manufacturing costs in the industry leader China, political tensions over China and the steadily improved networking of Vietnam via international free trade agreements (as most recently in 07/2020 with the EU). Vietnam, for example, occupies a top position in the global export of mobile phones in particular - namely, immediately after China, in second place. Third place for other electronic products such as headphones export, fifth place for vacuum cleaners or tenth place in the semiconductor market.
The Vietnamese textile industry
The lion's share of Vietnamese textile production, more than 90%, is destined for the export market, which, as in the case of the electronics industry, is characterized by multinational companies. The most important destination markets for Vietnamese clothing in 2017 were by far the USA (47% of all textile exports) and the EU (14%). In 2019 clothing contributed almost 1/5 of all total national exports, which is currently the second most exported good.
Some of the growth figures in this industry are still immense. Vietnam is about to replace China as the largest leather shoe exporter - in 2019 Vietnam took on the global leadership role here, just behind China. In addition, Vietnam is, for example, the sixth largest export country for t-shirts.
Another important export sector that is still of enormous importance for the labor market is the agricultural sector. Important agricultural products are in particular coffee (4th place), rice (5th place) and pepper (world market leader).
The main export products from Vietnam by export value
|#||Product category||Export (in € million)||Contribution to total export|
|1||Electrical engineering||86787||36,7 %|
|4||Furniture and furnishings||8475||3,6 %|
|5||Fish and marine animals||5543||2,3 %|
|6||Fruits and nuts||5103||2,2 %|
|7||Medical and measurement technology||4713||2,0 %|
|8||Plastic and articles from it||4325||1,8 %|
|9||Other raw materials||3995||1,7 %|
|10||iron and Steel||3838||1,6 %|
International Trade Center (ITC) - export data.
Wikipedia - Countries by Economic Power (GDP).
Vietnam Briefing - Vietnamese electronics industry.
Vietnam Insider - Vietnam's Textile Industry.
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