3 / 4
December 2014
|
V
IETNAM
B
RIEFING
-
5
An Introduction to Vietnam’s Export & Import Industries
Industry Snapshots
While Vietnam is widely known for being a prime location for
investors operating in the textile industry, there are many other
business areas that are seeing significant growth in the country.
Interestingly, Vietnam is well on its way to becoming a key location for
high-technology manufacturing, with companies like Samsung, LG
Electronics, Nokia, and Intel makingmulti-billion dollar investments
into the country. Other business areas include information and
communications technology, automotive, and medical devices.
The American Chamber of Commerce predicts that Vietnam will
become the largest ASEAN supplier to the U.S. by the end of 2014
– with a net export value of around US$29.4 billion. In fact, Vietnam
is likely to become the wealthiest Southeast Asian country in terms
of trade. Additional statistics indicate that bilateral trade with the U.S.
will surge to US$57 billion by 2020, cementingVietnam’s prominence
as a valuable hub for foreign investment.
Machinery
$
18.2
Telephones
$
6.9
$
7.8
Textiles
$
15
Computers
$
17.5
Textiles
$
8.3
Footwear
$
19.5
Telephones
$
6.55
Seafood
$
8.9
Consumer
Electronics
$
6.8
Petroleum
VietnamTop 5 Imports/Exports
Imports
Exports
Unit: Billion US Dollar