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Vietnam's foreign trade has been growing fast since state controls were relaxed in the 1990s. The country imports machinery, refined petroleum, and steel; it exports crude oil, textiles and garments, and footwear. The balance of trade has in the past been positive but recent statistics (2004) showed that it was negative.
In 2014, imports rose 12.1%, reaching US$148 billion, most of which are materials and machinery needed for export. China continued to be Vietnam's largest import partner, with US$43.7 billion. The ASEAN is second with US$23.1 billion, South Korea is third, Japan is fourth and the EU is the fifth largest import partner of Vietnam.
The effort to reduce the capitalist sector in the South nevertheless continued. Late in 1983, a number of import-export firms that had been created in Ho Chi Minh City (formerly Saigon) to spur the development of the export market were integrated into a single enterprise regulated by the state.
The right reason for rice import until 1975 was that the rice demand in VC-controlled zones increased, a demand accompanied by more and more intrusion of North Vietnamese troops to the South Vietnam. [17] From 1965, export-oriented industrialization policy had to suspense, this led to difficulties to many newly established sectors like textile ...
The U.S. and Vietnam also came to a Trade and Investment Framework Agreement (TIFA) in 2007. [5] Vietnam was recently the United States' 26th largest goods imports partner with $17.5 billion in 2011, [6] and was the 45th largest goods export market with $3.7 billion in 2010. [5]
Today, this port network is the hub for the export and import of goods in south Vietnam – the economic hub of the nation, which accounts for more than two-thirds of Vietnam's economy, and the Mekong delta farming as one of the more productive in the world, and the main producer of cereals (rice) and shrimp in Vietnam.
This is the list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
Map of countries by exports, 2023. The following article lists different countries and territories by their exports according to data from the World Bank. Included are merchandise exports and service exports. Merchandise exports are goods that are produced in one country and sold to another country. Service exports refer to the cross-border ...