According to a recent Standard Chartered research, Vietnam’s commodities export might reach $618 billion by 2030, with an average annual growth rate of 7% between 2021 and 2030. The country’s imports are expected to reach $578 billion by 2030, with an annual growth rate of 6.9 percent.
According to Standard Chartered, Vietnam is poised to become an important ASEAN high-tech manufacturing cluster.
In addition to its big and educated population and low manufacturing prices, the country benefits from a vast network of free trade agreements (FTAs) spanning North America, Asia, and Europe, according to the paper titled “Future of Trade: New Opportunities in High-Growth Corridors.”
These foundations, which are favorable to manufacturing and commerce, are likely to fuel Vietnam’s economic expansion and competitiveness indefinitely, according to the report.
According to a Vietnamese media site, the government is also strengthening the quality of its logistical infrastructure to further integrate itself into the international commerce system.
The United States, China, and South Korea are predicted to be Vietnam’s primary trading partners in the future years, while trade with India, Singapore, and Indonesia is expected to develop rapidly from 2021 to 2030, according to the report.
