Vietnam’s Role in Global Trade: Importing Goods to Fuel Domestic Growth

As one of Asia’s most dynamic economies, Vietnam has carved out a dominant position in the global export market. Yet, just as critical to its growth story is its robust import ecosystem. Imports not only power domestic industries and infrastructure but also reflect a rapidly modernizing consumer base with evolving preferences. This blog explores how imports are fueling Vietnam’s growth, what goods are in highest demand, and how businesses around the world can tap into Vietnam’s import opportunities.

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🇻🇳 Vietnam: A Trade-Fueled Growth Engine

Vietnam’s total trade turnover in 2023 surpassed US$683 billion, with imports contributing over US$320 billion. Despite its well-known export strength in textiles, electronics, and agriculture, the country’s import portfolio is diverse and crucial to sustaining economic momentum.

Why imports matter:

• Feed domestic production: Raw materials, components, and capital goods

• Serve rising consumer demand: Cosmetics, appliances, packaged goods

• Support infrastructure: Machinery, steel, transport equipment

• Facilitate digital growth: ICT products, semiconductors, software

As Vietnam integrates deeper into global value chains, its role as a net importer of essential inputs makes it an attractive market for foreign sellers and trading partners.

📦 Top Imported Goods into Vietnam (2024–2025)

Here’s a breakdown of the key categories driving Vietnam’s import activity:

1. Machinery and Equipment

• Share of total imports: ~15%

• Major sources: China, Japan, South Korea, Germany

• Used in manufacturing, construction, infrastructure, and energy

Vietnam’s booming industrial zones rely heavily on advanced machinery to drive productivity. As factories scale up to meet export demand, demand for CNC machines, textile equipment, conveyors, and robotics is growing.

2. Electronics and Semiconductors

• Share: ~12%

• Main suppliers: China, Taiwan, South Korea

• Include integrated circuits, processors, circuit boards, displays

Vietnam’s electronics assembly and mobile phone production—led by Samsung, Foxconn, and Intel—require a steady inflow of high-tech components. Importers that specialize in precision electronics will find significant demand here.

3. Raw Materials for Manufacturing

• Steel, aluminum, copper – for construction and manufacturing

• Chemicals & resins – for plastics, pharmaceuticals, and packaging

• Cotton & fabric – to feed the garment and textile industry

Textile and apparel exports may grab headlines, but the industry relies on imports of raw cotton and synthetic fibers, much of which comes from the U.S., India, and China.

4. Petroleum and Fuels

• Crude oil, gasoline, LPG: Needed for energy generation and transport

• Vietnam imports over US$10 billion in refined fuel annually

• Main partners: Middle East, Singapore, Malaysia

Though Vietnam has domestic refineries, they don’t meet full demand. As the economy expands and urban transport increases, fuel imports remain vital.

5. Consumer and Lifestyle Goods

• Cosmetics, toiletries, food supplements

• Smartphones, laptops, and home appliances

• Imported packaged food, wine, and snacks

A growing urban middle class with increasing disposable income is driving up imports of luxury and lifestyle goods, especially from Japan, South Korea, Thailand, and Europe.

📍 Key Import Hubs and Entry Points

Vietnam’s logistics infrastructure has been vastly upgraded to support its dual role in imports and exports. Here are the main import entry points:

🔹 Hai Phong Port (North)

• Gateway for electronics, machinery from China, Japan, and Korea

• Supports the Red River Delta’s industrial base (Hanoi, Bac Ninh, Hai Duong)

🔹 Cat Lai Port, Ho Chi Minh City (South)

• Largest container port in Vietnam

• Primary hub for consumer goods, chemicals, and packaged imports

🔹 Da Nang Port (Central)

• Strategic for mid-region industries and tourism-linked imports

✈️ Airports: Noi Bai (Hanoi), Tan Son Nhat (HCMC)

• Handle high-value, perishable, and express shipments

• Critical for e-commerce, luxury goods, and electronics

🏛️ Vietnam’s Import Regulations: What You Need to Know

Vietnam has streamlined much of its trade bureaucracy, but importers still need to navigate a set of structured steps:

✔️ Licensing and Registration

• Not all goods need import licenses, but some (e.g., telecoms, chemicals) do

• Importers must be registered businesses with a valid tax code

✔️ Customs and Tariffs

• Vietnam uses the VNACCS/VCIS e-customs system

• Tariff rates vary based on HS codes; most range from 0–30%

• Preferential tariffs apply under FTAs (e.g., EVFTA, CPTPP, RCEP)

✔️ Product Compliance

• Products must comply with Vietnamese labeling regulations

• Some require conformity certificates, quality inspections, or food safety testing

• Language: Vietnamese labeling is mandatory on consumer goods

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🌐 Vietnam’s Free Trade Agreements: A Boost for Importers

Vietnam has signed 15+ Free Trade Agreements, which not only benefit exports but also make imports cheaper and more streamlined. Some key FTAs include:

• EVFTA (EU–Vietnam): Reduces tariffs on EU-made machinery, cosmetics, food

• CPTPP: Includes Japan, Australia, Canada – boosts imports of tech and consumer goods

• RCEP: Links Vietnam with China, Korea, ASEAN, and others

• Vietnam–UK FTA: Post-Brexit trade in pharmaceuticals, wines, fashion

Under these agreements, import duties are being phased out, and customs procedures are harmonized, especially for certified traders.

🛒 Who Should Consider Selling into Vietnam?

🧩 B2B Suppliers:

• Machinery, automation tools, raw materials, chemicals

• IT equipment and industrial components

🛍️ B2C Brands:

• Lifestyle products, personal care, food and beverage

• Fashion, baby products, luxury goods

📦 E-commerce and Distributors:

• Dropshipping from ASEAN or China into Vietnam

• E-commerce platforms like Shopee, Lazada, and Tiki are booming

💼 Challenges & How to Overcome Them

While Vietnam is a promising import market, it has unique local challenges:

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🔚 Conclusion: Vietnam’s Import Market Is Ripe for Growth

Vietnam is not just an export hub—it’s an increasingly sophisticated import market that supports its fast-paced industrial and consumer development. With the right products, preparation, and local guidance, international businesses can thrive here.

📦 Whether you’re a supplier, trader, or logistics company, Vietnam offers one of Asia’s most exciting import opportunities.

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