THE RISE OF IMPORTANCE FOR GLOBAL TRADE DATA

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 VIETNAM TRADE DATA REVEALS AN ASTONISHING DATA FOR THE YEAR 2022

 

SNEAK PEAK OVER VIETNAM

 

Vietnam is a developing nation that is growing rapidly by showing an increase in Vietnam Trade Data and Vietnam Export Data and trying to become a developed country as soon as possible. Vietnam is also commonly known as the Socialist Republic of Vietnam which is situated in the southeastern part of Asia. The country is spread over 3 lakh kilometers and gives home to nearly 95 million people. The country has also registered its name in the list of the top 15 most populated countries in the world. Being a country that is surrounded by land and water both, it shares its major boundaries with China, Thailand, Cambodia, and the Philippines.

 

Vietnam has nowadays become one of the favorite destinations of big investors and companies due to its cheap and efficient labor force. As mostly the population of the country is filled by the young generation, the labor force is also young, and charges less as compared to workers in other countries. Due to this, many big companies are setting up their business factories and manufacturing units in Vietnam to reduce their manufacturing costs and boost profit margins. Due to this trend, Vietnam Trade Data and Vietnam Export Data are rising and hence, new opportunities and avenues for the country are increasing.

 

Import of mobile phones and telephones is also listed in Vietnam Import Data which amounts to USD 16.5 billion.

 

VIETNAM HAS GEARED UP AND MOVING TOWARDS BECOMING THE HUB OF MOBILE PHONE MANUFACTURING

 

Vietnam is all set to become one of the leading countries in the world in the production of mobile phones. Various brands such as Samsung, Apple, and MI have already set up their initial production units in the nation. Mobile phones play a very significant role in Vietnam Trade Data if we refer to the data for the year 2020, the mobile phones industry constituted close to 12.4% which grew over 17% in the year 2021 taking Vietnam Export Data to around 65 billion USD. Based on the statistics shared by Vietnam Trade Data we get to know that Vietnam produced 233 million mobile phones in the year 2021 which was more than 7.6% which was in 2020. Also, Vietnam export Data increased as the exports of mobiles increased by 12% as compared to 2020. It is indeed worth knowing that Vietnam is becoming a rising star in the mobile industry and will surely take over other big giants related to this industry in the coming years. Vietnam Trade Data has names of all major brands in the field of the mobile phone industry such as intel, LG, Panasonic, Nokia, Microsoft, and Apple who are in regular association with the nation for mobile manufacturing.

 

If we talk about the Vietnam Export Data for the year 2020, then the total exports from the country amounted to USD 300 billion with the major contribution of broadcasting equipment and telephones worth USD 42 billion and USD 21.5 billion respectively. As revealed by Vietnam Export Data about the nation’s major export partners, they were the USA, China, and Japan.

 

VIETNAM GUARANTEES GOOD RETURNS AS PER VIETNAM TRADE DATA

 

As per the study and final research by the scientists, it is clear that Vietnam has the potential to grow and contains a lot of people who have the capability to drive the country’s economy toward a developed economy very soon. Big players who are associated with the technology market are choosing Vietnam because of its potential and ever-growing market. In addition to this, Vietnam has a domestic market too of 600 million people and a large export market managed under Vietnam Export Data.

 

If we come back to mobile phones, then it is seen that smartphones are taking over basic phones in the nation every year. In 2020, the ratio between smartphones and basic phones was 71:29 which changed in the year 2021 to 80:20. So it is clear that the dependence of people on mobile phones will increase which will lead to more production and will open doors for increasing exports of mobile devices even more and which will, in turn, increase the dominance of mobile phones in Vietnam Export Data which will hence lead to rising in Vietnam Trade Data.

 

DO FOLLOW TIP

If you want further analysis and the best advice about import export data or global trade data  of any country including Vietnam import data then get in touch with TradeImeX® Info Solution Private Limited. We are one of the leading companies when it comes to providing data about international trade. TradeImeX® Import-export data provider delivers correct global trade data to people after various rounds of checks. We deal in providing best-in-class Vietnam Import data advice and identifying the potential market as per the products and services of a business.

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