Vietnam’s export sector is poised to achieve its highest growth rate since 2021, with an expected 18% increase by the end of the year. This impressive performance underscores the country’s expanding role in international trade and its ability to adapt and thrive in a competitive global market.
By mid-November, Vietnam’s export turnover reached 352.38 billion US dollars, a 14.8% increase compared to the same period last year, nearly matching the total of 355.5 billion dollars recorded in 2023. By year-end, exports are expected to climb to 420 billion dollars, setting a new record for the nation.
Key sectors driving this growth include electronics and components, which surged by 26.1% and added 12.79 billion dollars to the total. Machinery and equipment followed closely with a 21.7% increase, while textiles, garments, and timber products all showed substantial growth.
Imports also saw a significant rise, increasing by 16.6% to reach 329.1 billion dollars. Foreign investments have been instrumental in supporting this growth, with 27.3 billion dollars registered in the first 10 months of the year, boosting industrial development and export potential.
Despite minor challenges in manufacturing activity, Vietnamese producers remain optimistic. New product launches, business expansion, and rising global demand are expected to sustain growth into the next year.
By November, Vietnam’s total trade turnover reached 715 billion dollars, with a surplus exceeding 23 billion dollars. By year-end, trade turnover is projected to reach a record 807.7 billion dollars, reaffirming Vietnam’s position as a leader in global trade and economic development.
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