In Asia, Vietnam was outperformed by Singapore, Hong Kong of China, Macao and Malaysia. Globally, it ranks 20th out of 201 markets.
Fitch’s economic openness rankings are generated by two main indicators: trade and investment openness, which are based on import, export and foreign direct investment values as a percentage of GDP.
Vietnam scored 89.2 in terms of trade openness, ranking second in the region and fifth globally, thanks to its attractiveness as a destination for businesses looking for alternatives to China or adopting a "China plus One" supply chain policy to reduce manufacturing dependence on the country.
