Friday , April 12 2024

Amazon taxes 10 million products in Vietnam

Vietnamese vendors have sold nearly 10 million products on Amazon this year, totaling an export value over 45% more than 2021, according to a report by the American e-commerce giant.

There were “thousands” of Vietnamese vendors on Amazon during the pandemic, and their top-selling products were in the categories of kitchen ware, home appliances, garment and textile and healthcare.

Several Vietnamese brands such as AnEco (maker of compostable garbage bags), Lafooco (cashew exporter), Sunhouse (home appliances manufacturer) and HMG (3D card manufacturer) have been hailed by Amazon for succeeding in their e-commerce initiatives and creating jobs for locals.

Nguyen Le Thang Long, deputy director of An Phat, which makes AnEco products, said that sales through Amazon have surged nearly five times from 2021.

Phung Minh Thuy, founder of HMG, said that her company receives hundreds of orders through Amazon each day.

Vietnam ranks fifth among the top 10 markets globally in terms of e-commerce and retail sales growth at 19%, behind the Philippines, India, Indonesia and Brazil, according to market research firm eMarketer.

Vietnam’s e-commerce exports revenue is set to rise 20% annually between 2021 and 2026, according to consultancy firm AlphaBeta.

With a strong national policy to support exports, abundant production capacity, and rapid development of e-commerce, Vietnam is at a golden stage for online exports to take off, said Gijae Seong, managing director of Amazon Global Selling Vietnam.

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