Vietnam Trade Data: 2024: A Brief Insight

Vietnam has continued to confirm its position in the global trading system, reshaped its trading partners and faced new challenges even in 2024. Due to its strategic position in international trade and commerce, Vietnam's economic position and operation has become a centre of focus to investors, policy makers and even the world's leading economists.

This blog focuses on Vietnam's trade figures in 2024 through comprehensive and evaluated analysis of export/import turnover, main partners, sectors, and impact of the global economy policy on Vietnam.

Key Highlights:

- The growth of imports contributed to an increase in surplus of $2 billion in October 2024.

- The exports rose by 14.9% to $335.59bn in January-October 2024.

- Vietnam's export market in 2024 is made up of Electronics, Textiles, Footwear, Agriculture products.

- Vietnam will shine in global commerce in 2024: U.S., China, EU, and Southeast Asia.

- Trade risks encompass the potential of the U.S. preparing to impose tariffs, shifts in supply chain and regional trade agreements.

Trade Balance and General Behavior

According to Vietnam trade data, Vietnam's trade showed a surplus of $ 2 bln in October 2024, the lowest value since May due to the faster import growth. Export rose to $ 25.4 billion at an annual rate of 10.1 while imports stood at $ 39.5 billion at an annual rate of 13.6. About 93.6% of the total general import included raw materials to be used for manufacturing purposes. Exports of goods were up to $335.59 billion from $295.12 billion, a 14.9% rise for the period of January-October while imports were up by $312.28 billion from $269.22 billion a 16.8% increase.