In 1996, Vietnam’s export value reached 9.5 billion USD, ranking 5th out of 5 countries in ASEAN-6. Meanwhile, Malaysia is the country with the highest export value, reaching 92.12 billion USD.
However, in 2005, Vietnam’s export value surpassed the Philippines and ranked 4th out of 5 countries in ASEAN-5. At this time, the export value of Vietnam is about 36.62 USD, higher than the Philippines (33.77 billion USD). Thus, after 9 years, Vietnam only jumped one place in the ranking of countries with the largest export value in ASEAN-5.
After that, Vietnam in turn jumped one place in the rankings in 2015, 2017 and 2020. As of 2020, Vietnam has surpassed the Philippines, Indonesia, Malaysia, and Thailand. Thus, after 24 years, Vietnam has risen from 5th position to 1st place in the ranking of countries with the largest export value in ASEAN-5.
In the period 1996-2021, the export value of Vietnam is about 105.69 billion USD/year.
Export value of goods and services from ASEAN-5 countries in the period 1996-2021 (Billion USD). Source: WB.
In 2021, Vietnam’s export value will reach $339.98 billion. Accordingly, Vietnam’s export value ranks fifth among ASEAN-5 countries. After 25 years, Vietnam’s export value has increased from $9.5 billion in 1996 to $339.98 billion in 2021.
Export value of goods and services of Vietnam in the period 1996-2021 (Billion USD). Source: WB.
Thereby, the export value of Vietnam has increased 35.79 times after 25 years. Vietnam is the country with the largest increase in export value in the period 1996-2021. Other countries have improved but slower such as: Indonesia (4.35 times), Thailand (4.12 times), Malaysia (2.79 times) and the Philippines (2.62 times). .
Thereby, it can be seen that Vietnam’s exports of goods and services have grown strongly, achieved important achievements, and become a pillar for economic growth and social development.
According to the General Statistics Office, in 1997, Vietnam had 7 products with export turnover of 500 million USD or more (including rice, footwear, textiles, crude oil, coffee, electronic goods, and seafood products. ); By 2021, Vietnam has 35 products with export turnover of over 1 billion USD, accounting for 93.8% of total export turnover, of which 8 items are exported with over 10 billion USD, accounting for 69.7% .
At the same time, the structure of Vietnam’s export commodity group has had a strong shift in a positive direction, from raw exports to exports of deeply processed and technological goods.
In terms of export markets, over the years, Vietnam has actively expanded its market. Specifically, in 1991, Vietnam had more than 20 export markets, but it was still concentrated in countries in the Asia-Pacific region. By 2021, Vietnam has developed trade relations with more than 230 countries and territories.
Along with that, Vietnam has expanded economic and trade relations with all industrialized countries (G7), major economic regions and other economic, commercial and financial institutions and institutions. global currency.
In particular, Vietnam is very active in signing free trade agreements (FTAs) to facilitate export activities. As of December 2021, Vietnam has signed 17 free trade agreements.
T&G Import-Export Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 02473010868
Email: hrm@tginterjsc.com
Website: http://tgimportexport.com
