01Key Takeaways
- Vietnam exported $353.08 billion worth of goods in 2023, down 4.8% from $370.91 billion in 2022, a modest pullback and the most recent year with verified trade data available in this dataset.
- Electrical machinery and equipment led every export category at 37.6% ($132.72 billion), by far the largest single category on this list.
- The USA was Vietnam's largest export partner, taking 27.5% of exports, worth $97.07 billion.
- The top three export partners together accounted for 51.3% of total export value.
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $264.6B | $281.4B | $335.8B | $370.9B | $353.1B |
03Top Export Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | United States | $97.1B | 27.5% |
| 2 | China | $60.6B | 17.2% |
| 3 | South Korea | $23.4B | 6.6% |
| 4 | Japan | $23.3B | 6.6% |
| 5 | Netherlands | $10.2B | 2.9% |
| 6 | Hong Kong SAR China | $9.6B | 2.7% |
| 7 | India | $8.5B | 2.4% |
| 8 | Germany | $7.4B | 2.1% |
| 9 | Thailand | $6.9B | 2.0% |
| 10 | United Kingdom | $6.3B | 1.8% |
04Top Export Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Electrical Machinery and Equipment and parts thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of such Articles | $132.7B | 37.6% |
| 2 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts thereof | $32.2B | 9.1% |
| 3 | Footwear, Gaiters and the like; Parts of such Articles | $20.8B | 5.9% |
| 4 | Articles of Apparel and Clothing Accessories, not Knitted or Crocheted | $15.3B | 4.3% |
| 5 | Articles of Apparel and Clothing Accessories, Knitted or Crocheted | $14.8B | 4.2% |
| 6 | Furniture; Bedding, Mattresses, Mattress Supports, Cushions and similar Stuffed Furnishings; Lamps and Lighting Fittings, not elsewhere specified or included; Illuminated Signs, Illuminated Name-plates and the like; Prefabricated Buildings | $12.1B | 3.4% |
| 7 | Iron and Steel | $8.5B | 2.4% |
| 8 | Plastics and Articles thereof | $7.4B | 2.1% |
| 9 | Edible Fruit and Nuts; Peel of Citrus Fruit or Melons | $7.0B | 2.0% |
| 10 | Fish and Crustaceans, Molluscs and other Aquatic Invertebrates | $6.5B | 1.8% |
05Trade Partner Map
06Analysis
Export Value Pulled Back in 2023 After Three Years of Growth
Vietnam exported $353.08 billion worth of goods in 2023, down 4.8% from $370.91 billion in 2022. This is the most recent year with verified trade data available in this dataset. The dataset covers a full five years, from 2019 through 2023, tracking this Southeast Asian manufacturing and electronics exporter.
Export value stood at $264.61 billion in 2019. It climbed for three consecutive years, reaching $281.44 billion in 2020, $335.79 billion in 2021 and $370.91 billion in 2022, the high point of this five-year window, before easing back to $353.08 billion in 2023.
This dataset does not explain the three-year climb or the pullback that followed. A decline of 4.8% describes a modest pullback rather than a sharp reversal. Export value nonetheless still remains well above every year in this window before 2022. That climb-then-pullback shape reflects a manufacturing economy closely tied to swings in worldwide consumer electronics demand each year.
Electronics Dominate an Export List Anchored in Manufacturing
Electrical machinery and equipment led every export category in 2023, worth $132.72 billion, or 37.6% of the total, by far the largest single category on this list. Vietnam's exports of electrical and electronic equipment totaled $132.72 billion in 2023, according to United Nations Comtrade data, independently confirming this category's dominant position on this export list from an outside source. Machinery and mechanical appliances ranked a distant second at 9.1%, worth $32.23 billion overall. Footwear followed at 5.9%, worth $20.77 billion overall. These first three categories together account for well over half of total export value.
Apparel not knitted or crocheted contributed 4.3%, worth $15.32 billion, and knitted apparel added a further 4.2%, worth $14.76 billion overall. Furniture contributed a further 3.4%, worth $12.08 billion. These six categories together account for well over six in ten dollars of total export value, underscoring how heavily this list leans on electronics and garment manufacturing.
Iron and steel added 2.4% ($8.51 billion), and plastics also contributed 2.1% ($7.43 billion). Fruit and nuts added 2.0% ($7.02 billion), and fish and crustaceans closed out the top ten at 1.8% ($6.46 billion), the smallest share among all ten categories on this list, though still a sizeable figure on its own. A long tail of agricultural and industrial goods fills out the rest of this list, all trailing electronics by a wide margin. These ten categories span electronics, textiles, furniture and agriculture, reflecting a manufacturing base that has diversified well beyond garments and footwear alone.
The USA, China and Korea Lead a Moderately Concentrated Partner List
The USA was Vietnam's largest export partner in 2023, taking 27.5% of exports, worth $97.07 billion. China ranked second at 17.2%, worth $60.57 billion. South Korea followed at 6.6% ($23.45 billion), essentially tied with Japan at 6.6% ($23.31 billion). Together, the USA, China and South Korea accounted for 51.3% of total export value, a moderate concentration level for a top-three grouping. That level sits well below the far higher concentrations seen in smaller or more specialized export economies.
Netherlands contributed 2.9%, worth $10.24 billion, and Hong Kong SAR China added 2.7% ($9.60 billion). Both rank well behind the top three. India followed at 2.4% ($8.50 billion), essentially tied with the iron and steel category described above. These middle-ranked partners span South Asia, East Asia and Europe, a mix distinct from the top three.
Germany contributed a further 2.1% ($7.40 billion). Thailand added 2.0% ($6.93 billion), and United Kingdom closed out the top ten at 1.8% ($6.34 billion), the smallest share among the ten partners listed here. This list spans North America, Asia and Europe, a broad geographic spread reflected in the moderate concentration among the leading partners. Ranks four through ten here are packed within roughly one percentage point of each other, a far tighter cluster than the wide gaps separating the top three.
Taken together, this dataset's most recent confirmed year describes an export profile dominated by electronics manufacturing, easing back modestly after three years of growth tied in part to global tech demand. That profile is sourced from a partner base spread across North America, Asia and Europe, led by the USA and China but without a single overwhelming destination. This mix of a dominant electronics category and a broad, diversified partner base illustrates how deeply Vietnam's manufacturing sector is now woven into global supply chains.