Menu

Vietnam Flag Vietnam

Hanoi 6:13:46 am 12/30/24 +07:00 UTC
weather icon 14° C / 57° F Clear E 7 km/h / 5 mph
Lo: 14° C / 57° F Hi: 14° C / 57° F

Country Overview

Business Culture

Business and Investment

Business Travel

Communications

Cost of Living

Culture and Society

Defense and Armed Forces

E-Commerce

Economy and Trade

Energy

Environment

Export Process

Government

Holidays and Festivals

Import Process

Infrastructure

Language

Law

Maps

Marketing: Demographics

Marketing: Quality of Life

Marketing: Social Indicators

Media Outlets

Money and Banking

Names

Security Briefing

Taxation

Trade

Transportation

Imports of Goods and Services

Imports of Goods and Services (% of GDP)
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
50%
60%
70%
80%
90%
100%
2001
2021

Data Source: The World Bank World Development Indicators. Accessed 15 December 2023.
Graphics and Editorial: © Copyright by World Trade Press. All Rights Reserved.

Vietnam Ranking Compared to All Countries

Vietnam ranks 9 compared to all countries in Importing of Goods and Services as a Percentage of GDP for the year 2021.

0%
50%
100%
150%
200%
250%

Data Source: The World Bank World Development Indicators. Accessed 15 December 2023.
Graphics and Editorial: © Copyright by World Trade Press. All Rights Reserved.

Compare Vietnam to Another Country

Imports of Goods and Services (% of GDP)
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
0%
20%
40%
60%
80%
100%
Vietnam
United States
1996
2016

Data Source: The World Bank World Development Indicators. Accessed 15 December 2023.
Graphics and Editorial: © Copyright by World Trade Press. All Rights Reserved.

What Is It?

Imports are goods and services produced in other countries but purchased and consumed by residents and businesses of the subject country.

Gross Domestic Product (GDP) is the total value of the goods and services that are produced within a country's borders by citizens and non-citizens in a fiscal year.

How Is It Calculated?

Imports is a calculation of the value of a) physical merchandise, including freight and insurance, and b) services, including royalties, license fees, communication, construction, financial, information, and government services, that originate in other countries but are purchased and consumed by individuals, businesses, and government entities of the subject country.

Gross Domestic Product (GDP) is calculated using one of three methods:

  1. Production Method: The sum of all value added to each stage of production of all goods and services.
  2. Income Method: The sum of all wages, profits, interest, and rents.
  3. Expenditure Method: The sum of the purchase values of all goods and services.

There will be slight variances when comparing these three methods, but they produce fundamentally the same result.

Imports as a percentage of GDP is calculated by dividing imports by GDP (Imports ÷ GDP) and is expressed as a percentage (%).

What Does It Mean?

The value of imports to a country’s economy is hotly disputed by economists, politicians, businesses, and the public. The following statements, however, are generally accepted to be true:

  • Imported products introduce competition to the local market and generally result in lower costs to businesses and consumers.
  • Importing makes certain raw materials and finished products available to local markets that would otherwise be unavailable.
  • Imports have the potential to erode local markets and put inefficient local manufacturers out of business with a resulting loss of jobs.
  • Overreliance on imports can establish a dependence on supplier countries for basic commodities and goods ranging from food to defense materials.
BACK TO TOP
Loading

Sign In

Please enter your user name and password.

We respect your privacy, and we only use performance and functionality-related cookies that are operationally necessary.

You can view our privacy policy here.

OK