Which country does Vietnam import the most from?

1, China: The main source of imports from Vietnam
According to data released by the Vietnamese Ministry of Industry and Trade, China remains Vietnam's largest market for imported goods. This position has been further consolidated in recent years. Specifically, in the first quarter of 2024, Vietnam's imports from China amounted to approximately $29.4 billion, a year-on-year increase of 24.4%, significantly surpassing the second ranked South Korea's $12.8 billion. The diversity and high cost-effectiveness of Chinese goods, as well as the close economic and trade relationship between the two countries, have made China the main source of imports for Vietnam.
2, Other major import source countries
In addition to China, Vietnam's import sources also include countries and regions such as South Korea, ASEAN, Japan, the European Union, and the United States. These countries and regions have a certain share in Vietnam's import market.
South Korea: As an important neighboring country of Vietnam, South Korea occupies an important position in Vietnam's import market. South Korea's high-tech products and automotive components are highly popular in the Vietnamese market.
ASEAN: ASEAN countries are geographically close to Vietnam and have frequent trade exchanges. Agricultural products, mineral resources, and consumer goods from ASEAN countries are important commodities imported by Vietnam.
Japan: Japan also has a certain share in Vietnam's import market, mainly exporting goods such as mechanical equipment, electronic products, and automotive parts.
The European Union and the United States: The European Union and the United States are one of Vietnam's main trading partners, and the two countries export a wide range of goods to Vietnam, including machinery and equipment, chemical products, agricultural products, etc.
3, Analysis of Import Commodity Structure
Vietnam's import commodity structure is relatively diverse, covering multiple fields from raw materials to consumer goods. Among them, mechanical equipment, electronic products and components, oil and natural gas, agricultural products, etc. are the main commodities imported by Vietnam. These commodities play an important role in Vietnam's industrial production, energy supply, and consumer demand.
4, The Characteristics of Vietnam's Import Trade
Diversified import sources: Vietnam's import sources are spread across multiple countries and regions around the world, which helps to ensure the stability of Vietnam's supply chain.
The structure of imported goods is diverse: Vietnam's imported goods cover multiple fields, from raw materials to consumer goods, etc. This diversified structure of imported goods helps to meet Vietnam's diverse needs.
Close trade partnership: Vietnam has established close economic and trade relations with its major trading partners, which helps promote the development of Vietnam's import trade.