WTO names Vietnam among 30 largest commodity import-export economies
VOV.VN - Vietnam has been continuously listed among the group of 30 countries and territories with the largest import and export value on a global scale, according to the rankings compiled by the World Trade Organization (WTO).
The country's trade ranking has been improved constantly over the years, making a continuous presence in the group of countries and territories boasting the largest import and export value.
Most notably, although the ranking of ASEAN member countries has yet to increase over the past few years, Vietnam’s ranking has made remarkable progress.
Accordingly, the Vietnamese export value of goods last year was at 23rd in the world, while imported value ranked 20th globally.
Since 2019 the country has been placed second in ASEAN, surpassing both Thailand and Malaysia, and standing behind Singapore.
The General Department of Vietnam Customs reported 1995 marked Vietnam’s comprehensive integration into the world as it officially joined ASEAN, the ASEAN free trade area (AFTA), and the World Trade Organization (WTO), as well as normalising diplomatic relations with the United States.
The past 30 years has witnessed the Vietnamese economy make significant changes by gradually implementing a foreign policy of multilateralisation and diversification of foreign relations, thereby fully tapping into further opportunities for trade, investment, integration, and technology transfer, as well as economic development.
Most notably, the total import-export value in 2007 stood at US$100 billion, and the figure rose to US$200 billion in 2011, US$400 billion in 2017 and US$600 billion in November 2021. By mid-December 2022 the total import-export value is anticipated to reach US$700 billion.
