Freight Transport in Vietnam

Among the fastest growing economies inside the third world, Vietnam is a vibrant country undergoing improvement of the company’s infrastructure to assist its future growth plans.

Over the past twenty years, Vietnam has become having a transformation coming from a centrally planned economy into a market economy and over that time, Vietnam has experienced significant growth.

This can be good news to the international freight transport sector and shipping companies linked to trade with Vietnam as his or her business will grow at the same time as the Vietnam economy. During 2009, export turnovers were over 56 billion $ $ $ $, in accordance with the General Statistics Office of Vietnam.This reflected a decline of approximately 10% in the previous year.

Vietnam’s single largest export is crude oil, which landed 11% of earnings from exports during 2009.

Vietnam’s other main exports part from oil are textiles, footwear and garments, rice, coffee, rubber and coal. Aquaculture can be an important supply of export business along with processed forest products.

At present, the exports from Vietnam are covered with agricultural products however, this is set to alter as Vietnam increases its industrial base. Already, 5% of wages are included by electronic equipment. Because the country is constantly on the develop its industrial base, the freight services infrastructure continually develop to guide it. The principle markets for exports from Vietnam include the United States, accounting for nearly 20% of exports, followed by Japan, China, Australia and Singapore.

Economic relations between Vietnam and the Usa are improving but impeded by Vietnam’s record in human rights. Nevertheless, there are great strides forwards in economic relations throughout the last decade and this is reflected in the present a higher level freight transport. A landmark bilateral agreement in December 2001 significantly boosted the amount of Vietnam’s exports towards the U . s ..

The main imports to Vietnam are commodities, including petroleum products, steel, fertilizer, electronics, equipment and machinery. Most imports are derived from China, Taiwan, Singapore, Japan, The philipines, Thailand and Malaysia.

Overall, the main trading partners of Vietnam are presently Japan, Hong Kong, Singapore, Korea, Taiwan and also the European Union. Presently do business with the Asian economies makes up 80% coming from all Vietnam trade. This actually represents a changed picture as up until 1990, most Vietnam trade was using the Ussr.

Vietnam is now keen to develop more trade with countries from the Eu and freight services information mill creating this easier, as freight companies increase their own knowledge of the Vietnam market. These day there are many shipping firms that will help businesses inside the Western european trade with Vietnam. The various nature of the aforementioned instances of imports and exports both to and from Vietnam stresses how versatile the freight services companies operating in Vietnam need to be in order to service this market. A shipping company or freight company that is certainly acquainted with exporting from Vietnam will be expert at giving the correct transportation mode in order that the products go to their destination market in peak condition and within as short a moment frame as is possible. The freight forwarding market in Vietnam has developed considerably in recent years as well as the standard of freight services available is very high.

Most businesses in Vietnam are medium and small sized enterprises and in trying to embrace the opportunities of globalisation, many consider freight companies for advice and support. And so the freight forwarding sector is itself an important catalyst in the growth of the Vietnam economy.

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