Vietnam is approaching an important milestone in international trade, with an expected import-export turnover of 782 billion USD in 2024, the highest level ever. This growth reflects Vietnam's economic strength and its increasingly significant role on the global trade map.
Import-Export Reaches Record Levels
According to the General Department of Customs, as of December 14, Vietnam's total import-export value reached nearly 745.4 billion USD. Of this, exports accounted for 384.4 billion USD (up 14.5% compared to the same period last year), and imports totaled nearly 361 billion USD (up 16.3%).
This year's import-export turnover is forecast to reach 782 billion USD, far exceeding the 732 billion USD recorded in 2022 and more than doubling compared to 10 years ago. This impressive growth not only highlights Vietnam's strong economic performance but also reinforces its position in the global supply chain.
Foreign Investment Driving Growth
According to a report from UOB Bank, Vietnam's exports this year are expected to grow by 18%, the highest increase since 2021. This could bring the export value close to 420 billion USD.
A key driver of this growth is foreign direct investment (FDI) inflows.
In the first 10 months of the year, Vietnam attracted 27.3 billion USD in registered FDI, and realized capital is expected to reach a record level for the third consecutive year. These investments are crucial in supporting key export industries such as electronics, textiles, and agricultural products.
Budget Surplus from Import-Export Growth
The National Assembly set a target of VND 375 trillion in state budget revenue from imports and exports. However, by mid-December, this figure had already surpassed VND 402,680 billion—7% higher than the estimate.
Authorities forecast that the total revenue for the year could reach VND 418,000-420,000 billion, exceeding the target by 11.5-12%. This result is driven by effective trade policies and a significant increase in both the volume and value of goods transactions.
Vietnam Achieving Record Import-Export Turnover: A Big Step Forward
With continued strong FDI inflows and sustained trade support policies, Vietnam is set to further cement its position as one of the leading production and trade centers in the region.
