Market Information
Vietnam
Your Vietnam cheat sheet that covers customs clearance and import duties for your eCommerce international shipping needs, eCommerce insights, and more
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Vietnam's B2C Customs Clearance Info and eCommerce Insights
| ID | VN |
| Capital | Hanoi |
| Official Language | Vietnamese |
| Currency | Vietnamese Dong (VND) |
| Population Size | 97.3 million |
Vietnam’s eCommerce Market
Vietnam’s eCommerce market value is US$3.3 billion in 2020 and is expected to grow to US$4.4 billion by 2024.
Increasing use of smartphones, the rise of internet penetration as well as Vietnam’s young and tech-savvy population are driving the growth in this sector. Within the region, Vietnam has the highest growth in mobile traffic, presenting attractive growth opportunities for eCommerce businesses.
Customs & regulations
Import Duty and Taxes
| Shipment value below VND 2 million | |
|---|---|
| Tax | 0% |
| Shipment value below VND 2 million | |
|---|---|
| Value-Added Tax | 0% |
| Import Duties | 5-30% |
You may check the tariff amount for your commodity here.
Restricted and Forbidden Goods
Restricted items that must meet certain conditions before going through customs clearance:
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Cigarettes, cigars, and tobacco
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Liquor, and more
Prohibited items that cannot be imported into the market:
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Military technical equipment and firecrackers
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Narcotic drugs
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Endangered wildlife products
This list may change depending on government regulations. Visit official customs page for the latest version.
Documentation
Documents required by Vietnam’s customs clearance include:
1. Packing List
This gives product details, shipment volume in kilogram or cubic meter, and serves as a checklist to ensure shipment has been packed correctly or not.
2. Commercial Invoice
This gives total shipment value usually in US dollar. Helps to determine the import duties and taxes, and eligibility of shipment.
If you are shipping without a logistics partner that can clear customs on your behalf, you may need to include the following shipping documentation as well:
- Certificate of origin
- Bill of lading or airway bill
- Insurance policy
- Other relevant permits, licenses, and certificates
Additional information
Payment preferences
Among Vietnamese eCommerce shoppers who pay using digital means, 34% of them would opt to pay by card, whereas 22% would pay by bank transfer and another 19% would pay using a digital wallet. Cash on delivery still plays a role in Vietnam’s eCommerce market, with 19% of Vietnam’s eCommerce shoppers using this payment method.
ECommerce sellers who wish to enter this market may want to consider offering various forms of payment to attract more customers.
Non-working days in 2020
Saturday, Sunday and public holidays are non-working days. Please expect shipment delays on these days.
List of public holidays:
| Date | Holiday |
|---|---|
| Jan 1 | New Year’s Day |
| Jan 23 | Tet Holiday |
| Jan 24 | Tet Eve |
| Jan 25 | Tet Nguyen Dan |
| Jan 26-29 | Tet Holiday |
| Apr 2 | Hung Kings Temple Festival |
| Apr 30 | Reunification Day |
| May 1 | International Labour Day |
| Sep 2 | National Day |
Market Opportunities
Popular eCommerce Item Categories
- Fashion apparel & footwear
- Books, music, stationery
- Electronics
- Cosmetics & personal care
- Home appliances
Popular Shopping Seasons
| Event Name | Event Period |
|---|---|
| Lunar New Year (Tet) | Feb 15 |
| Online Friday | Sep 7 |
| Singles Day | Nov 11 |
| Black Friday | 4th Friday in Nov |
| Cyber Monday | Monday after Black Friday |
Popular Shipping Destinations
| EXPORTS | |
|---|---|
| Rank | Market |
| 1 | United States |
| 2 | China |
| 3 | Japan |
| 4 | South Korea |
| 5 | Hong Kong |
| IMPORTS | |
|---|---|
| Rank | Market |
| 1 | China |
| 2 | South Korea |
| 3 | Japan |
| 4 | Taipei |
| 5 | Thailand |
Sources:
Worldometers (2020) | Statista (2020) | Tech in Asia (2018) | Vietnam Online (2018) | JP Morgan (2019) | Office Holidays (2020) | Vietnam Investment Review (2018) | Euromonitor International (2017) | VnExpress (2018) | Frost & Sullivan “South East Asia Transportation and Logistics Market” (2017)
Updated as of 30 Jan 2020.
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