Here are some key details:
Trade Performance:
Exports: Vietnam’s exports grew by 14.3% YoY, reaching $405.53 billion in 2024.
Imports: Imports increased by 16.7% YoY, totaling $380.76 billion.
Sector Breakdown:
Domestic Sector Exports: The domestic sector contributed $114.59 billion, a 19.8% YoY increase, making up 28.3% of total exports.
Foreign-Invested Sector Exports: The foreign-invested sector (which includes crude oil) contributed $290.94 billion, up by 12.3% YoY, and accounted for 71.7% of total exports.
Domestic Sector Imports: The domestic sector’s imports rose by 19.5% YoY, amounting to $140.11 billion.
Foreign-Invested Sector Imports: Imports in this sector grew by 15.1% YoY, totaling $240.65 billion.
December Trade Performance:
December 2024 saw a month-on-month (MoM) increase of 6.2% and a year-on-year (YoY) increase of 15.9%, with the total trade value reaching $70.53 billion.
Key Insights:
The growth in exports was driven largely by the foreign-invested sector, which remains the dominant contributor.
The domestic sector also showed strong growth, particularly in exports, highlighting increasing local production and competitiveness.
These figures indicate Vietnam’s growing role in global trade and suggest a robust economy that continues to benefit from both domestic and foreign investment-driven sectors. The trade surplus also underscores a positive external balance, which could be a result of increasing demand for Vietnam’s exports, especially in manufacturing and electronics.
