Vietnam's Import Data: Unlocking Opportunities for Global Trade

Vietnam, as one of the fastest-growing economies in Southeast Asia, has emerged as a key player in the global trade arena. By delving into Vietnam's import data, businesses can uncover valuable insights that can help them identify new opportunities, mitigate risks, and make informed decisions to enhance their competitiveness in the global marketplace. According to Vietnam import data, the total value of Vietnam’s imports accounted for $380.76 billion in 2024, a 16.7% increase in value from the previous year. Vietnam had a total trade surplus of $24.77 billion in 2024.

Vietnam is the 22nd biggest importer in the world, while it is the 8th largest importer of goods among the Asian countries, as per the Asia trade data. For companies seeking to tap into the thriving Vietnamese market, understanding Vietnam's import data can provide valuable insights and unlock new opportunities for growth and success. In this article, we will explore and gain insights into Vietnam's import data and key import trends of this emerging Asian powerhouse in global trade.

Understanding Vietnam's Import Landscape

Vietnam's import landscape is characterized by a diverse range of products and industries, with key sectors including electronics, textiles, machinery, and agriculture. By analyzing Vietnam's import data, businesses can gain a comprehensive understanding of the country's import trends, top importing partners, and the demand for specific products and services. This insight can help businesses tailor their products and services to meet the needs of the Vietnamese market, thereby enhancing their chances of success in this rapidly growing economy.

Biggest Imports of Vietnam: List of Top Vietnam Imports by HS Code

Vietnam is a dynamic player in the global market, and its list of top imports by HS Code reflects its diverse economy and trading relationships. Some of Vietnam's biggest imports cover a wide range of commodities, including machinery and equipment, electronics, textiles, and agricultural products. With a strategic focus on enhancing its industrial infrastructure and international trade partnerships, Vietnam continues to expand its import portfolio. The top 10 commodities that Vietnam imports, as per Vietnam trade data and Vietnam customs import data for 2024, include:

1. Electrical Machinery and Equipment (HS Code 85): $116.54 billion

The top import category for Vietnam in 2024 is Electrical Machinery and Equipment, with a total import value of $116.54 billion, accounting for 34.79% of the country's overall imports, as per Vietnam customs import data by HS code. This category includes a wide range of electrical appliances, such as televisions, refrigerators, and air conditioners.

2. Nuclear Reactors and Machinery (HS Code 84): $29.10 billion

Nuclear Reactors and Machinery come in second, with an import value of $29.10 billion, making up 8.69% of Vietnam's total imports in 2024. This category covers machinery and equipment related to nuclear power plants and reactors.

3. Plastics and Articles Thereof (HS Code 39): $16.48 billion

Plastics and Articles Thereof rank third on the list of imports, with a value of $16.48 billion, representing 4.92% of the total imports in Vietnam. This category includes various plastic products, from packaging materials to household items.

4. Mineral Fuels and Mineral Oils (HS Code 27): $16.03 billion

With an import value of $16.03 billion, Mineral Fuels and Mineral Oils claim the fourth spot on the list, contributing 4.79% to Vietnam's total imports. This category includes petroleum products, natural gas, and other mineral oils.

5. Iron and Steel (HS Code 72): $12.21 billion

Iron and Steel come in fifth, with a total import value of $12.21 billion, making up 3.65% of the country's imports in 2024. This category covers various iron and steel products, including raw materials and finished goods.

6. Vehicles (HS Code 87): $7.22 billion

Vehicles rank sixth on the list of imports, with a value of $7.22 billion, representing 2.16% of Vietnam's total imports. This category includes cars, trucks, motorcycles, and other types of vehicles.

7. Optical, Medical, or Surgical Instruments (HS Code 90): $7.12 billion

Optical, Medical, or Surgical Instruments claim the seventh spot, with an import value of $7.12 billion, contributing 2.13% to Vietnam's total imports. This category includes various medical and surgical equipment, as well as optical devices.

8. Knitted or Crocheted Fabrics (HS Code 60): $6.68 billion

Knitted or Crocheted Fabrics rank eighth on the list, with a value of $6.68 billion, making up 2% of Vietnam's total imports in 2024. This category includes various knitted and crocheted fabrics for clothing and textiles.

9. Cereals (HS Code 10): $4.79 billion

Cereals claim the ninth spot on the list of imports, with a total import value of $4.79 billion, representing 1.43% of Vietnam's imports. This category includes various grains, such as rice, wheat, and corn.

10. Cotton (HS Code 52): $4.75 billion

Lastly, Cotton rounds out the top 10 imports of Vietnam in 2024, with a value of $4.75 billion, contributing 1.42% to the country's total imports. This category includes raw cotton and cotton products used in the textile industry.

Top Trade Partners of Vietnam: Vietnam Imports by Country

Vietnam's trade relationships are vital components of its economy, with key countries contributing significantly to its imports. The top trade partners of Vietnam in terms of imports by country include China, South Korea, and Japan, reflecting the diverse sourcing strategies employed by Vietnam. These countries play pivotal roles in supplying essential goods and materials that support Vietnam's growing industries and consumer demands. The top 10 Vietnam trade partners as far as Vietnam imports by country are concerned, as per Vietnam shipment data and Vietnam import data for 2024, include:

1. China: $138.22 billion (22%)

Unsurprisingly, China remains Vietnam's largest import partner by a significant margin, as per customs data on Vietnam imports from China by HS code. With a total import value of $138.22 billion in 2024, accounting for 22% of Vietnam's total imports, China continues to play a crucial role in supplying goods and materials to Vietnam's growing economy.

2. South Korea: $53.46 billion (8.75%)

Coming in second is South Korea, with an import value of $53.46 billion, representing 8.75% of Vietnam's total imports. South Korea's high-tech products and machinery are in high demand in Vietnam, contributing to the strong trade partnership between the two countries.

3. Japan: $17.13 billion (2.80%)

Japan maintains its position as one of Vietnam's top import partners, with a total import value of $17.13 billion in 2024. From automobiles to electronics, Japanese products are highly sought after in Vietnam, driving the import numbers up.

4. Singapore: $16.64 billion (2.72%)

Singapore ranks fourth on the list of Vietnam's import partners, with an import value of $16.64 billion, making up 2.72% of Vietnam's total imports. Singapore's strategic location and strong financial sector make it an attractive partner for Vietnam in terms of imports.

5. Hong Kong: $14.42 billion (2.36%)

Hong Kong comes in fifth place among Vietnam's import partners, with a total import value of $14.42 billion in 2024. The financial hub serves as a gateway for Vietnamese imports, particularly in the areas of electronics and luxury goods.

6. Chinese Taipei: $11.69 billion (1.91%)

Chinese Taipei, also known as Taiwan, holds the sixth spot on the list of Vietnam's import partners, with a total import value of $11.69 billion. The strong manufacturing sector in Chinese Taipei provides Vietnam with a wide range of quality products for import.

7. Malaysia: $11.34 billion (1.85%)

With an import value of $11.34 billion, Malaysia ranks seventh among Vietnam's import partners. The proximity between the two countries and Malaysia's advanced technology industry contribute to the strong trade ties between Vietnam and Malaysia.

8. Thailand: $11 billion (1.80%)

Thailand follows closely behind Malaysia as one of Vietnam's top import partners, with an import value of $11 billion. Thailand supplies Vietnam with a variety of products, from agricultural goods to electronics, further strengthening their trade relationship.

9. USA: $9.79 billion (1.60%)

Despite being geographically distant, the United States remains one of Vietnam's key import partners, with a total import value of $9.79 billion, as per the customs data on Vietnam imports from the US by HS code. American products, particularly in the technology and machinery sectors, continue to be in demand in the Vietnamese market.

10. Indonesia: $7.52 billion (1.23%)

Rounding out the top 10 import partners of Vietnam is Indonesia, with an import value of $7.52 billion. Indonesia's rich natural resources and diverse product offerings make it an important partner for Vietnam in terms of imports.

Vietnam’s Imports in the Last 10 Years: Yearly Vietnam Import Data

Vietnam Import Trends

Key Observations

• Vietnam’s total imports rebounded in 2024, growing 16.7% YoY.
• Domestic imports: They increased by 19.5%, showing strong local demand.
• Foreign-invested sector: Contributed 63% of total imports.

Top Imported Categories in Vietnam

Key Observations

• Electronics & components remain the largest import category.
• Petroleum & fuels saw the highest YoY growth due to increased energy demand.
• Automobile imports surged 22.3%, reflecting rising consumer spending.

Vietnam’s Top Import Partners

Key Observations

• China dominates, supplying nearly 40% of Vietnam’s imports.
• South Korea & Japan are major suppliers of high-tech & industrial goods.
• Growing imports from the U.S. reflect demand for advanced technologies & medical products.

Import Pricing & Shipment Trends in Vietnam

Pricing Trends (2024)

• Electronics: Prices declined 3.8% due to global chip supply improvements.
• Petroleum: Prices increased 5.2%, influenced by global energy price hikes.
• Automobiles: Prices remained stable despite higher import volume.

Vietnam Shipment Data 2024

Key Observations

• Seasonal variations: Import volumes peak in Q2 & Q4.
• December saw a strong recovery, rising 7.2% from November.

Market Opportunities for Global Trade

Potential Sectors for Foreign Businesses

• Capital Goods & Machinery: Vietnam’s industrial expansion boosts demand.
• Energy Imports (LNG, Renewables): Driven by Vietnam’s energy transition goals.
• Consumer Goods: Rising incomes increase the demand for electronics and luxury products.

Policy-Driven Opportunities

• Tariff reductions on US goods (2025): Includes LNG, ethanol, and automobiles.
• Free Trade Agreements (FTAs): Lower barriers for international exporters.

Synopsis and Key Takeaways 

Vietnam’s import market is expanding rapidly, presenting significant opportunities for global trade, as per the National Statistics Office of Vietnam. Understanding import trends, pricing, and shipment dynamics is crucial for businesses aiming to enter or expand in Vietnam.
 ✅ Imports surged 16.7% in 2024, driven by electronics, energy, and industrial demand.
  ✅ China remains Vietnam’s top supplier, but opportunities for U.S. & European exporters are growing.
  ✅ Vietnam’s import pricing & trade policies are evolving, making it a high-potential market for global businesses.

Conclusion

In conclusion, Vietnam's import data offers a wealth of valuable information that businesses can leverage to unlock new opportunities and drive their global trade activities forward. Vietnam’s import game is on fire, fueling its rapid economic rise and making it a magnet for global trade. From high-tech electronics to industrial machinery and energy resources, the country is stacking up on essential goods to power its growth.

But here’s the thing that Vietnam imports are outpacing exports, and while that’s a sign of expansion, it also means Vietnam needs to play its cards right to keep its economy balanced. The key? Smart trade policies, strategic partnerships, and a push for stronger local industries. If Vietnam can fine-tune its trade equation, it won’t just be an import powerhouse—it’ll be a full-fledged, 360-degree economic force.

For more market reports and import trends on Vietnam import-export data, visit TradeImeX. Contact us at info@tradeimex.in and get a list of the top import companies in Vietnam at your fingertips!