Vietnam’s Exports Surge in First Half of 2024, Driving Trade Surplus

Vietnam has reported a significant surge in exports during the first half of 2024, leading to a notable trade surplus. This growth has been fueled by both the domestic and foreign-invested sectors

The domestic economic sector experienced a remarkable 20.6% increase in exports, reaching $53 billion USD, which represents 28% of the country’s total exports. Meanwhile, the foreign-invested sector, including crude oil, saw a 12.3% rise, contributing over $136 billion USD and making up the remaining 72%.

Processed industrial goods dominated the export landscape, generating an estimated turnover of $166 billion USD. On the import side, Vietnam also saw steady growth, with imports rising 17% year-on-year to $178 billion USD. Raw materials for production were the leading import category, accounting for a significant 94% share, valued at $167 billion USD.

The United States remained Vietnam’s largest export market, with an estimated turnover of $54.3 billion USD. China continued to be Vietnam’s top import market, with imports valued at approximately $67 billion USD.

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