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-The exchange of goods and services between countries giving rise to a world
economy, in which prices, or supply and demand, affect and are affected by global
events
+Free trade :the simpler of the two theories: a laissez-faire approach, with no
restrictions on trade
+A vehicle for the transmission of new ideas, new technology and new managerial
and organizational skills
A very large part of world trade is clustered around three regions: North America,
Europe and East Asia
With around US$ 3 trillion traded, energy related goods (oil, gas, coal and
petroleum products) represent a very substantial share of world trade in goods.
Other significant sectors include chemicals, machineries, communication
equipment and motor vehicles.
Situation of international trade in Asia-Pacific
2015-2016 capped a five-year period in which the Asia-Pacific region’s trade grew
below the pre-crisis average
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-Vietnam is currently classified as the third largest rice exporter in the world
-The other exports mainly constitute textiles, clothing and footwear products
and crude oil, whereas imports are mainly made up of tool machinery, refined oil and
steel.
-The main export customers of Vietnam are the USA, Japan, the EU, Australia and
China
Export Potential in Vietnam
Vietnam, Vietnam mainly exported commodities such as raw materials, fuels,
agricultural, forest, aquatic products and other labor-intensive products while
importing mainly manufactured goods such as equipment and machinery,
intermediate input and materials for export processing, consumer goods, etc
Transport is the most imported service in Vietnam that accounted for two-third of
the services imported in Vietnam
Travel, insurance and pension services are the second and third imported services
in Vietnam
Total exports growth in Vietnam
Calculation: M = P x Q ,
The larger the ΔM and g, the greater the change in the size of exports, proving that
countries are increasingly improving their export sales.
fresh food: 25
mineral: 100
IT & consumable electronic was the sector accounted for the greatest average
share in country’s exports with 23.2% in 2012-2016
Electronic components was the sector accounted for the greatest average share in
country’s imports with 14% in 2012-2016
Basic manufactures was the third largest average share with 11.4%
Sectoral diversification in destination for Viet Nam's exports
Unclassified products was the sector accounted for the greatest average share in
country’s exports with 98.5% in 2012-2016.For which, Mexico, Japan,
Switzerland were the top importing countries. Electronic components came in
second with 26.8%, for which China, Japan, Malaysia, USA, Hongkong were the
top importing countries. IT & Consumable electronic was the third with 21.1%, for
which China; Hongkong, Germany, USA, Korea were the top importing countries.
Sectoral diversification in destination for Viet Nam's imports
IT & consumable was the sector accounted for the greatest average share in
country’s imports with 23.9% in 2012-2016. For which, China, Korea, Honkong
were the top supplying countries. Unclassified products came in with 23.6%, for
which Russian Federation, Japan, Singapore, USA, China were the top supplying
countries. Electronic components was the third largest with 18.9%, for which
Korea, China, Japan were the top supplying countries
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Case study 1: Vietnam’s Consumable Electronics
The biggest export markets for Vietnamese electrical products in 2012 were China,
Hong Kong, Germany, 30.6% of total exports
MARKET STRUCTURE
In the industry, electronic intergrated circuits and telephone sets both make up
of the most exported products to Viet Nam’s major export markets. Intergrated
circuits account for 37.98% of the total exports to China from 2008 to 2015, valuing
4.9 billion dollars. Exported telephone sets into US’ market make up of 49.16%, 7.2
billion dollars worth.
The textile and apparel industry in Vietnam has been experiencing fast and
very sustainable growth in the last few years, and its role in the socio-economic
development has been of paramount importance in a developing country like
Vietnam.
In The International Market
The international market recognizes Vietnam’s dominance in exporting textile and
garment, now ranked among the top-five textile exporting countries, with perhaps
only China surpassing our net export of garment to the US
Traditional export market includes the United State, EU member states, and
Japan, with the largest being the United State at 55% of all textile of garment export
from Vietnam, in 2014.
The US Japan South Korea Germany Spain The UK Canada China Netherlands Taiwan
Free Trade Agreement is a very important factor for Vietnamese textile success
in the international market. Below is the export revenue recognized by Vietnam’s
textile industry (in billion USD), in total, and in the US, along with FTAs we signed
over the years.
INDUSTRY STRUCTURE
.The chain structure includes: Fiber (cotton, polyester, viscose), Yarn
(filament, staple yarn), Fabric (weaving/knitting, dyeing/finishing), and
Garment/Apparel (shirts, jackets, sportwear, etc).