Exports of goods and services (% of GDP) in Vietnam was reported at 86.47 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Vietnam - Exports of goods and services (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on October of 2025.

In 2024, Vietnam’s gross domestic product (GDP) amounted to around 459.5 billion U.S. dollars, and is expected to increase to 484.7 billion U.S. dollars by 2025. Gross domestic product denotes the aggregate value of all services and goods produced within a country in any given year, and it is an important indicator of a country’s economic power. Vietnam’s economy Vietnam’s economy has a strong agrarian base, with key agricultural exports of wet rice, coffee, and black pepper. However, in the past decade (2008 to 2018), agriculture's contribution to Vietnam's GDP has been decreasing while the country’s industry sector experienced rapid growth at the same time. As of 2018, Vietnam’s top exports include information technology hardware, such as broadcasting equipment and mobile devices. Vietnam’s regional comparison Vietnam is part of the Association of Southeast Asian Nations (ASEAN), which encompasses regional nations with the goal of fostering trade and economic growth. The region has been reporting increasing GDP, amounting to 2.9 trillion U.S. dollars in 2018. Vietnam is one of the ASEAN countries experiencing export trade growth, and has had consistent yearly growth in GDP, at a rate of around six percent.

Actual value and historical data chart for Vietnam Trade Percent Of GDP

Vietnam VN: Goods Trade: % of GDP data was reported at 190.223 % in 2017. This records an increase from the previous number of 171.177 % for 2016. Vietnam VN: Goods Trade: % of GDP data is updated yearly, averaging 96.627 % from Dec 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 190.223 % in 2017 and a record low of 9.027 % in 1987. Vietnam VN: Goods Trade: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank.WDI: Trade Statistics. Merchandise trade as a share of GDP is the sum of merchandise exports and imports divided by the value of GDP, all in current U.S. dollars.; ; World Trade Organization, and World Bank GDP estimates.; Weighted average;

In 2024, Vietnam’s real gross domestic product (GDP) increased by around 7.1 percent compared to the previous year. Vietnam's GDP growth is expected to slightly decrease to 5.3 percent until 2030. Learning from real GDP Real gross domestic product (GDP) is a measure that reflects the value of all goods and services an economy produces within a given year. It is expressed in base-year prices, and is thus an inflation-adjusted way to compare a country’s economic output through the years. The GDP growth rate is a significant indicator of a country’s economic health, as it reacts to the economy’s expansions and contractions. Vietnam’s optimistic future As indicated by the positive growth rate of its real GDP, Vietnam’s economy is expanding due to growth in exports, domestic demand, and the manufacturing sector. As the economy expands, so does the total expenditure of Vietnamese consumers. The average monthly income per capita in Vietnam increased to almost 3.8 percent in 2018, and is spent on fast moving consumer goods from popular brands like Vinamilk and P/S.

Vietnam VN: GDP: % of GDP: Exports of Goods and Services data was reported at 101.555 % in 2017. This records an increase from the previous number of 93.624 % for 2016. Vietnam VN: GDP: % of GDP: Exports of Goods and Services data is updated yearly, averaging 54.901 % from Dec 1986 (Median) to 2017, with 32 observations. The data reached an all-time high of 101.555 % in 2017 and a record low of 3.945 % in 1988. Vietnam VN: GDP: % of GDP: Exports of Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank.WDI: Gross Domestic Product: Share of GDP. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Vietnam: Trade openness: exports plus imports as percent of GDP: The latest value from 2023 is 164.82 percent, a decline from 183.15 percent in 2022. In comparison, the world average is 94.72 percent, based on data from 161 countries. Historically, the average for Vietnam from 1986 to 2023 is 114.88 percent. The minimum value, 18.95 percent, was reached in 1988 while the maximum of 186.68 percent was recorded in 2021.

In 2024, the gross domestic product (GDP) per capita at current prices in Vietnam amounted to around 4,536 U.S. dollars. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. Vietnam’s economy In the last decade, the Vietnamese economy has experienced consistent economic growth with a six to seven percent increase in GDP from year to year. The country’s economy is fueled by its exports of natural resources and agricultural products, though since 2008 its information technology hardware exports have risen substantially. Vietnam’s agriculture and service sectors generate over 56 percent of Vietnam’s gross domestic product. Vietnam’s population The majority of Vietnam’s population works in the agriculture or service industries, and the country has one of the world’s lowest unemployment rates at just 1.8 percent in 2018. The population is relatively young, with the median age expected to reach 32.5 years by 2020. The median age has increased significantly from its low point of 18.2 years in 1970, around the time Vietnam was being devastated by war. Since then, the country’s population has increased as well, reaching over 94 million people in 2018.

In 2023, the manufacturing sector made a significant contribution of over *** quadrillion Vietnamese dong to the gross domestic product (GDP) of Vietnam, thereby achieving the highest contribution across all sectors. The agriculture, forestry, and fishery sector accounted for the second-largest GDP contribution, followed by the wholesale and retail trade, vehicles, and motorcycle repairs sector. The expansion of Vietnam's manufacturing sector The manufacturing sector has been a fundamental component of Vietnam's economy for many years, consistently driving its expansion since 2015, evidenced by its steadily increasing gross domestic product (GDP) value. This is further highlighted by the escalating number of newly established businesses within the sector, reaching a peak in 2022 with the highest recorded number of enterprises in seven years. Furthermore, the manufacturing sector has emerged as the main driver of Vietnam's export figures. Key export segments within the manufacturing sector include electronics, computers, and components, alongside mobile phones and spare parts, as well as textile and footwear products. Hai Phong City - A rising force in Vietnam's manufacturing landscape Hai Phong has emerged as a pivotal manufacturing hub in northern Vietnam, alongside Bac Ninh and Bac Giang. The city accounted for five percent of the newly registered foreign direct investment (FDI) in the manufacturing sector during the first nine months of 2023. Furthermore, home to one of Vietnam's largest harbors, Hai Phong has strengthened its trading position, handling the highest volume of Vietnam’s domestic sea cargo at **** million metric tons in 2022. The city is also home to VinFast, a pioneering electric car manufacturer in Vietnam, with significant electric vehicle sales recorded in the first half of 2023.

Vietnam VN: GDP: % of GDP: External Balance on Goods and Services data was reported at 2.801 % in 2017. This records an increase from the previous number of 2.562 % for 2016. Vietnam VN: GDP: % of GDP: External Balance on Goods and Services data is updated yearly, averaging -7.722 % from Dec 1986 (Median) to 2017, with 32 observations. The data reached an all-time high of 3.503 % in 2012 and a record low of -13.644 % in 2008. Vietnam VN: GDP: % of GDP: External Balance on Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank.WDI: Gross Domestic Product: Share of GDP. External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Vietnam's total Exports in 2023 were valued at US$353.08 Billion, according to the United Nations COMTRADE database on international trade. Vietnam's main export partners were: the United States, China and South Korea. The top three export commodities were: Electrical, electronic equipment; Machinery, nuclear reactors, boilers and Footwear, gaiters and the like,. Total Imports were valued at US$325.44 Billion. In 2023, Vietnam had a trade surplus of US$27.63 Billion.

In 2024, India's manufacturing sector's GDP share was around ** percent. The share remained the same as compared to the last year and declined from ** percent in 2010. Value added is the net output of the manufacturing sector after adding all outputs and subtracting intermediate inputs. The manufacturing sector employs over ** million workers. Boosting manufacturing As global economies aim to reduce reliance on China or adopt a China-plus strategy, India has emerged as a potent alternative manufacturing hub. The Make in India initiative was launched to foster and strengthen India’s global manufacturing status by enhancing foreign direct investments, skill development, and updating manufacturing infrastructure. Under the Production Linked Incentive (PLI) Scheme, companies are incentivized to promote domestic production and enhance manufacturing competitiveness. Despite efforts, experts expressed doubts about the government’s ambition to raise the share of manufacturing to GDP to ** percent by 2025.
Hurdles for manufacturing As per the World Bank, India’s share in global trade has not kept pace with its rapidly growing economy. It is losing ground to countries like Bangladesh and Vietnam in key low-cost and low-skill manufacturing export sectors. Manufacturing productivity in India has remained low. and the availability of capital also remains an obstacle for the manufacturing sector. Inadequate investments in technology, infrastructure, and research and development (R&D) can also impact productivity growth. Other factors include regulatory compliance burdens, complex labor laws, red tape, and inefficient supply chains.

China's total Exports in 2024 were valued at US$3.58 Trillion, according to the United Nations COMTRADE database on international trade. China's main export partners were: the United States, Hong Kong and Vietnam. The top three export commodities were: Electrical, electronic equipment; Machinery, nuclear reactors, boilers and Vehicles other than railway, tramway. Total Imports were valued at US$2.59 Trillion. In 2024, China had a trade surplus of US$991.41 Billion.