Vietnam’s total trade revenue reached $786.29 billion in 2024, reflecting a 15.4% year-on-year increase, according to the General Statistics Office (GSO) at a press conference in Hanoi on January 6. The nation recorded a trade surplus of $24.77 billion for the year.
In December alone, trade value was reported at $70.53 billion, marking a 6.2% increase month-on-month and a 15.9% rise compared to the same period in the previous year.
For the year, Vietnam’s exports grew by 14.3% to $405.53 billion, while imports increased by 16.7% to $380.76 billion. The domestic sector contributed $114.59 billion to the total export value, a 19.8% increase, accounting for 28.3%. The foreign-invested sector, including crude oil, generated $290.94 billion, up 12.3% and comprising 71.7% of total exports.
A total of 37 key export items surpassed $1 billion, collectively making up 94.3% of the total exports. Notably, eight of these items exceeded the $10 billion mark, contributing 69% of the overall export value.
On the import side, the domestic sector experienced a 19.5% increase to $140.11 billion, while the foreign-invested sector recorded $240.65 billion, a 15.1% growth.
To boost exports in 2025, Deputy Minister of Industry and Trade Phan Thi Thang emphasized the importance of institutional development as one of three strategic breakthroughs. The ministry plans to focus on implementing the revised Electricity Law and refining the draft Law on Chemicals for submission to the National Assembly.
Additionally, efforts will be made to enhance the operational efficiency and competitiveness of industrial manufacturing enterprises, alongside reviewing policies related to international economic integration. Vietnam aims to optimize existing Free Trade Agreements (FTAs) and pursue new agreements to expand and diversify markets and supply chains.
Deputy Minister of Agriculture and Rural Development Vo Van Hung stated that the ministry will work closely with the Ministry of Industry and Trade to promote the production and consumption of domestic agricultural products and negotiate to open and enhance export markets for agro-forestry and aquatic products in 2025 and beyond.
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