Vietnam racks up trade surplus of US$24.77 billion in 2024

Of the figure, exports expanded by 14.3% to reach US$405.53 billion over the previous year. The domestic economic sector raked in US$114.59 billion from exports, up 19.8%; while the foreign-invested sector earned US$290.94 billion, up 12.3%.

Last year saw a total of 37 items record an export turnover exceeding US$1 billion, thereby accounting for 94.3% of total export turnover. Meanwhile, import turnover hit US$380.76 billion, up 16.7% over the previous year.

In order to promote export growth moving forward into 2025, Deputy Minister of Industry and Trade Phan Thi Thang pointed out that the Ministry of Industry and Trade (MoiT) continues to identify the development of institutions and policies as one of three strategic breakthroughs.

In particular, the MoiT will focus on effectively exploiting signed FTAs ​and implementing new free trade agreement (FTAs) ​​as a means of expanding and diversifying markets, while simultaneously striving to strengthen supply chains and improving the overall quality of human resources for the purpose of industrial development.