Market Profile

Liberalisation, market opening and social policies have led to significant economic growth, development progress and poverty reduction. Since 1993, the economy has grown over five per cent each year. A growth domestic product (GDP) per capita of US$1911 in 2013 and the poverty rate decreased to 17 per cent in 2012.

Economic reforms culminated in WTO accession in 2007, which has further boosted international trade and foreign investment and trade has increased strongly in both directions. Vietnamese export figures have been growing at double-digit rates for several years, reaching US$132 billion in 2013. Trade flows from Australia to Vietnam started decreasing in 2012 for the first time in 10 years, from US$2.1 billion in 2011 to US$1.6 billion in 2013. Goods worth US$3.5 billion were imported into Australia from Vietnam in 2013.

More information on doing business in Vietnam

Why ASEAN and why now?

Why ASEAN and why now? Insights for Australian Business. A joint Austrade-DFAT publication examining Australia’s trade relationship with the Association of Southeast Asian Nations (ASEAN), the opportunities and challenges for Australian business engaging with the region and the future of the Australia-ASEAN trade relationship.

Access the publication

Vietnam's market insights and opportunities

Facts

  • Imports from Vietnam A$5,709 million
  • Exports to Vietnam A$4,492 million
  • Capital Hanoi
  • Official Language Vietnamese
  • Area 310,070 sq km
  • Population 90.6 million

Country information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Vietnam and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

 

Australia's trade at a glanceAustralia's top ten trading partners

Free Trade Agreements

Information on Trade Agreements in force and in negotiation, plus market videos detailing insights and opportunities.

» read more at DFAT

Business risks

Bribery of Foreign Officials

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government.

APEC Business Travel Card Scheme

Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.

Are you ready to export?

Austrade’s International Readiness Indicator.

An online tool for new exporters that has been designed to help Australian businesses determine whether their business is ready for exporting.

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Export grants

Need help with preparing and lodging your application? We can provide independent consultants to assist.

EMDG applications can be lodged by approved consultants.

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How Austrade can help

Austrade provides information, advice and range of trade services to assist Australian businesses reduce the time, cost and risk associated with exporting.

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