How much does Vietnam’s economy rely on external trade?
Trade openness
The trade-to-GDP ratio is frequently used to measure the importance of international transactions relative to domestic transactions. This indicator is calculated for each country as the simple average (i.e., the mean) of total trade (i.e., the sum of exports and imports of goods and services) relative to GDP. This ratio is often called the trade openness ratio.
Trade openness level of Vietnam
Apart from Singapore, Vietnam’s economy relies more on international trade than any other ASEAN economy does. Its key trade partners include the US, China, South Korea, Japan, Singapore, and Hong Kong.
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