Vietnam was Australia’s 15th largest trading partner in 2016. Export receipts of goods from Vietnam totalled US$3.8b in 2016, up 9% from 2015. Australia’s main exports to Vietnam include coal, wheat, crustaceans and aluminium. Imports reached US$4.5b, little changed from a year earlier, driven by telecommunications equipment and footwear.
Australia’s fifth largest source of international students with over 29,000 enrolments. Royal Melbourne Institute of Technology (RMIT) has two campuses in Vietnam with a student roll of around 5,000.
Vietnam accounts for less than 1% of tourist arrivals, but arrivals have risen 14% annually over the last decade.
Bilateral investment between Vietnam and Australia lags behind blossoming trade relations. Australian investment in Vietnam is modest relative to the total stock of outward investment. Australian companies that have invested in Vietnam include ANZ, BlueScope Steel and QBE.