How much does Vietnam’s economy rely on external trade?
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.
What is the size of Vietnam’s economy? See Chart
What is the size of Vietnam’s population? See Chart
What is the demographic structure of Vietnam? See Chart
How has the structure of Vietnam’s GDP changed over the years? See Chart
What are the key production sectors for Vietnam’s economy? See Chart
Economic Freedom Index: How free is Vietnam’s economy? See Chart