Vietnam is one of the fastest-growing economies in Southeast Asia, and its export sector plays a crucial role in driving economic growth. The country’s exports have been expanding rapidly over the years, with an average annual growth rate of around 15% between 2010 and 2020. In this article, we will discuss Vietnam’s top five exports in 2021 and their significance to the country’s economy.
Electronics – 31.2% of total exports
Electronics are Vietnam’s largest export product, accounting for 31.2% of the country’s total exports in 2021. The country has become a major player in the global electronics industry, with several international tech giants such as Samsung, LG, and Intel operating manufacturing plants in the country. Vietnam’s electronics exports include mobile phones, computer parts, and electronic integrated circuits. The leading buyers of Vietnam’s electronics are China, the United States, and Japan.
According to the latest data from Vietnam’s General Department of Customs, the country exported electronics worth $110.5 billion in 2021, which represents a 14.4% increase compared to the previous year.
Textiles and garments – 15.5% of total exports
Textiles and garments are Vietnam’s second-largest export product, accounting for 15.5% of the country’s total exports in 2021. The country is one of the world’s largest textile and garment exporters, with a highly developed textile industry that caters to several major global brands. Vietnam’s textile and garment exports include clothing, footwear, and accessories. The leading buyers of Vietnam’s textiles and garments are the United States, the European Union, and Japan.
According to the latest data from Vietnam’s General Department of Customs, the country exported textiles and garments worth $55.3 billion in 2021, which represents a 14.9% increase compared to the previous year.
Footwear – 6.5% of total exports
Footwear is Vietnam’s third-largest export product, accounting for 6.5% of the country’s total exports in 2021. Vietnam is one of the world’s leading footwear manufacturers, with a highly developed footwear industry that caters to several major global brands. Vietnam’s footwear exports include shoes, sandals, and other footwear products. The leading buyers of Vietnam’s footwear are the United States, the European Union, and China.
According to the latest data from Vietnam’s General Department of Customs, the country exported footwear worth $23.2 billion in 2021, which represents a 28.7% increase compared to the previous year.
Machinery and equipment – 5.7% of total exports
Machinery and equipment are Vietnam’s fourth-largest export product, accounting for 5.7% of the country’s total exports in 2021. Vietnam has a growing manufacturing sector that produces a range of machinery and equipment, including computers, telecommunication equipment, and industrial machinery. The leading buyers of Vietnam’s machinery and equipment are the United States, China, and Japan.
According to the latest data from Vietnam’s General Department of Customs, the country exported machinery and equipment worth $20.5 billion in 2021, which represents a 29.1% increase compared to the previous year.
Vehicles and parts – 4.8% of total exports
Vehicles and parts are Vietnam’s fifth-largest export product, accounting for 4.8% of the country’s total exports in 2021. Vietnam has a growing automotive industry that produces a range of vehicles and parts, including passenger cars, commercial vehicles, and auto parts. The leading buyers of Vietnam’s vehicles and parts are the United States, Japan, and China.
