Vietnam Ranks Among the Top 30 Largest Export Economies in the World
1. Global Export Trends and Vietnam's Position
According to the World Trade Organization (WTO), global export turnover in 2023 reached $23.8 trillion, a 5% decline compared to the previous year. Amid this backdrop, Vietnam managed to maintain relative stability, with only a slight decrease of 4.6% compared to 2022, equivalent to $17.04 billion. This resilience is noteworthy, especially when larger economies faced more significant downturns.
Several key export sectors, such as phones and components, textiles, and footwear, saw declines. Specifically, phone and component exports dropped by $5.61 billion, textiles by $4.27 billion, and footwear by $3.66 billion. These declines highlight the difficulties faced by industries heavily impacted by global supply chain disruptions and reduced demand from major markets.
| Ranking | Country | Global percentage in 2023 (%) | Value (billion USD) |
|---|---|---|---|
| 1 | China | 14,2 | 3.380 |
| 2 | USA | 8,5 | 2.020 |
| 3 | Germany | 7,1 | 1.688 |
| 4 | Netherlands | 3,9 | 935 |
| 5 | Japan | 3,0 | 717 |
| 6 | Italy | 2,8 | 677 |
| 7 | France | 2,7 | 648 |
| 8 | Korea | 2,7 | 632 |
| 9 | Mexico | 2,5 | 593 |
| 10 | HongKong | 2,4 | 574 |
| 11 | Canada | 2,4 | 569 |
| 12 | Belgium | 2,4 | 562 |
| 13 | England | 2,2 | 521 |
| 14 | UAE | 2,1 | 488 |
| 15 | Singapore | 2,0 | 476 |
| 16 | Taiwan | 1,8 | 432 |
| 17 | India | 1,8 | 432 |
| 18 | Russia | 1,8 | 424 |
| 19 | Spain | 1,8 | 423 |
| 20 | Switzerland | 1,8 | 420 |
| 21 | Poland | 1,6 | 382 |
| 22 | Australia | 1,6 | 371 |
| 23 | Vietnam | 1,5 | 354 |
| 24 | Brazil | 1,4 | 340 |
| 25 | Saudi Arabia | 1,4 | 322 |
| 26 | Malaysia | 1,3 | 313 |
| 27 | Thailand | 1,2 | 285 |
| 28 | Indonesia | 1,1 | 259 |
| 29 | Türkiye | 1,1 | 256 |
| 30 | Czech Republic | 1,1 | 255 |
| The World | 100 | 23.784 |
2. Bright Spots in Export Growth
Despite challenges in core export sectors, Vietnam achieved positive results in several critical areas. Fruit and vegetable exports surged by $2.24 billion, vehicles and components increased by $2.17 billion, while rice and cashew exports recorded growth of $1.22 billion and $558 million, respectively. These figures reflect Vietnam's efforts to diversify its export products, mitigating risks from overreliance on a few key sectors.
3. Challenges and Opportunities Amid Global Trade Shifts
In an era of increasing trade barriers and protectionist trends worldwide, Vietnam's economy has demonstrated remarkable resilience. Factors such as competitive labor costs, strategic geographic location, and a diverse network of free trade agreements (FTAs) have bolstered Vietnam's competitiveness on the international stage. However, navigating uncertainties like trade conflicts and supply chain shifts requires Vietnam to continue innovating and adapting swiftly.
4. The Future of Vietnam's Export Sector
In the coming years, Vietnam is expected to strengthen its strategy of export product diversification and explore new markets. Building sustainable trade relationships, alongside investments in technology and sustainable development, will be key to Vietnam asserting its role in the global economy.
5. Conclusion
Logistics companies like Real Logistics play a crucial role in supporting Vietnam’s export growth, offering optimal transportation solutions that ensure smooth flow of goods to international markets. Combining enhanced logistics efficiency with opportunities from free trade agreements will help Vietnam maintain its position in the global supply chain and continue thriving in the years ahead.
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