Since joining the World Trade Organisation (WTO) on January 11, 2007, Vietnam has experienced a remarkable economic transformation. The WTO, which promotes global trade by establishing rules and resolving disputes, has enabled Vietnam to integrate more deeply into the global economy.
Over the past 17 years, the country has ascended to become one of the top 20 trading economies worldwide, with Vietnam's international trade volume increasing 6.6 times since becoming a member, according to the Ministry of Industry and Trade (MoIT). This impressive expansion has been driven by strategic investments, strengthened trade relationships, and the country’s active participation in global supply chains, which has significantly fueled Vietnam's economic growth.
In light of this progress, DHL Express Vietnam’s inauguration of its new Hanoi Gateway near Noi Bai International Airport is set to enhance the country’s trade capabilities further. This state-of-the-art facility is designed to improve the efficiency and capacity of international shipping operations, thus making it easier for businesses to export from Vietnam.
What are the main exports of Vietnam?
Before we delve into the specifics of DHL Express Vietnam's role in international trade, let's first review the current state of Vietnam’s export industry.
Vietnam’s export market is vital to its economy, significantly contributing to its resilience and growth. In the first quarter of 2024, Vietnam achieved exports worth US$92.9 billion, supporting a gross domestic product (GDP) growth of 5.7%, according to research by Trade Data Monitor.
Moreover, figures from the Vietnam General Statistics Office reveal that Vietnam’s major exports from January to April 2024 include electronics, computers, and components (US$21.634 million), phones and components (US$18.416 million) other machinery, equipment, and parts (US$14.536 million), textiles (US$10.371 million), as well as footwear (US$6.542 million). Overall, these products accounted for 57.9% of the country’s total exports.
Interestingly, the top export products shipped via DHL Express Vietnam reflect this trend, which mainly consists of electronics, garments, and fashion apparel.
This impressive export performance is supported by Vietnam's numerous international trade agreements. According to the Centre for WTO and International Trade, Vietnam has established 19 active and planned Free Trade Agreements (FTAs) as of 2023 August. These include:
Active Free Trade Agreements:
- ASEAN-Australia and New Zealand Free Trade Agreement (AANZFTA)
- ASEAN-China Comprehensive Economic Cooperation Agreement (ACFTA)
- ASEAN-India Comprehensive Economic Cooperation Agreement (AIFTA)
- ASEAN-Japan Comprehensive Economic Partnership (AJCEP)
- ASEAN-South Korea Comprehensive Economic Cooperation Agreement (AKFTA)
- ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA)
- ASEAN Free Trade Area (AFTA)
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
- EU-Vietnam Free Trade Agreement (EVFTA)
- Eurasian Economic Union-Vietnam Free Trade Agreement (VN-EAEU FTA)
- Japan-Vietnam Economic Partnership Agreement (VJEPA)
- Regional Comprehensive Economic Partnership (RCEP)
- South Korea-Vietnam Free Trade Agreement (VKFTA)
- United Kingdom-Vietnam Free Trade Agreement (UKVFTA)
- Vietnam-Chile Free Trade Agreement (VCFTA)
Planned Agreements:
- Vietnam-Israel Free Trade Agreement (VIFTA) (signed, not yet implemented)
- Vietnam-EFTA Free Trade Agreement (negotiations ongoing)
- ASEAN-Canada Free Trade Agreement (negotiations ongoing)
- Vietnam-UAE Free Trade Agreement (negotiations ongoing)
These agreements facilitate trade by reducing tariffs, enhancing market access, and promoting investment.
With such extensive trade agreements in place, DHL Express Vietnam’s investment in infrastructure and enhanced logistics services become essential components to help leverage these FTAs to boost Vietnam's export-driven economy and improve international trade efficiency.
DHL Express Vietnam’s expansion of the new Hanoi gateway
1. Vietnam Law & Legal Forum. 21 January 2024.
2. Trade Data Monitor. 15 May 2024.
3. Vietnam Briefing. 3 May 2024.
4. Centre for WTO and International Trade. 22 May 2024.