Viet Nam-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $6.11B total volume •Viet Nam surplus: $3.47B
Viet Nam → Italy
$4.79B
Exports (2023)
Italy → Viet Nam
$1.32B
Imports (2023)
Trade Balance
$3.47B
Surplus for Viet Nam
Total Trade
$6.11B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Viet Nam and Italy. Green line shows exports from Viet Nam, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Viet Nam-Italy commercial relationship and competitive positioning in global markets.
Viet Nam → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Viet Nam's export portfolio to Italy demonstrates strategic specialization, with telephones for cellular networks or for other wireless networks representing a key competitive advantage in this bilateral market.
Italy → Viet Nam Imports
Import Dependency Profile
📦 Import Strategy Analysis
Viet Nam's import pattern from Italy reveals significant dependencyin leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Viet Nam demonstrates competitive strength in exportingtelephones for cellular networks or for other wireless networks to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $6.11B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Viet Nam-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $6.11 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Viet Nam maintains a surplus of $3.47 billion
- Export Focus: Viet Nam's primary exports include telephones for cellular networks or for other wireless networks, coffee: not roasted or decaffeinated, iron or non-alloy steel: in coils, without patterns in relief, flat-rolled, of a width 600mm or more, hot-rolled, of a thickness of 3mm or more but less than 4.75mm
- Import Dependencies: Key imports from Italy include leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits, tankers, tanned or crust hides and skins: bovine or equine, without hair on, in the wet state (including wet blue), excluding full grains, unsplit: grain splits
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $6.11B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Viet Nam leveraging its comparative advantages in telephones for cellular networks or for other wireless networks.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Viet Nam's specialization in telephones for cellular networks or for other wireless networkscomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $6.11B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $6.11B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $6.11 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in telephones for cellular networks or for other wireless networks and leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Viet Nam's trade surplus of $3.47 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Viet Nam and Italy represents a total trade volume of $6.11 billion in 2023. This partnership demonstrates a favorable trade balance for Viet Nam, with exports exceeding importsby $3.47 billion.
Export Strengths
Viet Nam's exports to Italy total $4.79 billion, with competitive advantages in telephones for cellular networks or for other wireless networks, representing $601.92M or12.6% of bilateral exports.
Import Dependencies
Imports from Italy amount to $1.32 billion, highlighting economic interdependence in leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits, with Leather: further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, other than leather of heading 41.14, whole hides and skins, grain splits comprising4.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Viet Nam's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Viet Nam and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023