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Vietnam posts trade surplus of 24.77 billion USD in 2024

Vietnam's total trade revenue reached 786.29 billion USD in 2024, up 15.4% year-on-year, with a trade surplus of 24.77 billion USD, the General Statistics Office (GSO) said at a press conference in Hanoi on January 6.

Workers make garment products for export to Japan. (Photo: VNA)
Workers make garment products for export to Japan. (Photo: VNA)

Hanoi (VNA) – Vietnam's total trade revenue reached 786.29 billion USD in 2024, up 15.4% year-on-year, with a trade surplus of 24.77 billion USD, the General Statistics Office (GSO) said at a press conference in Hanoi on January 6.

The December value was 70.53 billion USD, up 6.2% month-on-month and up 15.9% compared to the same period last year, according to the agency.

In 2024, the country's exports expanded by 14.3% to 405.53 billion USD, while imports grew by 16.7% to 380.76 billion USD. Of the total export value, the domestic sector contributed 114.59 billion USD, a 19.8% increase, accounting for 28.3%. The foreign-invested sector, including crude oil, generated 290.94 billion USD, up 12.3% and making up 71.7%.

As many as 37 key export items generated over 1 billion USD, collectively accounting for 94.3% of the total exports. Among them, eight exceeded the 10 billion USD mark, contributing a substantial 69% of the combined value.

Meanwhile, of the accumulative import value, the domestic sector went up 19.5% to 140.11 billion USD, and the foreign-invested sector recorded 240.65 billion USD, a 15.1% increase.

To promote export in 2025, Deputy Minister of Industry and Trade Phan Thi Thang said that her ministry continues to identify institutional building as one of the three strategic breakthroughs.

This year, it will focus on implementing the revised Electricity Law, play a role in building documents guiding the implementation of the law, and perfecting the draft Law on Chemicals for submission to the National Assembly for approval at its 9th session.

It will also make efforts to enhance the operational efficiency and competitiveness of industrial manufacturing enterprises, actively summarising mechanisms and policies related to international economic integration. In addition, Vietnam will optimise the existing Free Trade Agreements (FTAs) and seek to sign new ones to expand and diversify markets, import and export items, and supply chains.

Deputy Minister of Agriculture and Rural Development Vo Van Hung said that the ministry will closely coordinate with the Ministry of Industry and Trade and parties to promote the production and consumption of domestic agricultural products, and negotiate to open up and promote export markets for agro-forestry-aquatic products in 2025 and the following years./.

VNA
#export #import #trade surplus #Vietnam #MoIT #agriculture
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