Vietnam’s 2024 foreign trade to hit close to US$800 billion

Statistics show, as of December 14, the country’s total export-import turnover fetched US$745 billion, marking a growth of 15.3% compared to the same period in 2023.

Of the total, exports brought in US$384 billion, an increase of nearly 14.5%, while imports hit approximately US$361 billion, up by 16.3%.

The value of goods cleared through customs grew strongly in both directions, resulting in a trade surplus of US$23.4 billion, though the figure was nearly US$2.3 billion less than the trade surplus recorded in the same period last year.

Some optimists even said the country’s foreign trade this year may hit the US$800 billion mark this year thanks to bustling trade activities throughout the year.

However, analysts argued that reaching US$800 billion seems almost impossible, based on the figures recorded in the past 11 months and the declining trend in November.

To achieve US$800 billion, the export-import turnover in December would need to reach nearly US$85 billion, a figure never achieved before and far beyond the average of US$65 billion per month in the first 11 months of 2024.

Unless there is an extraordinary growth in December, it will be difficult to gross US$85 billion in export-import turnover, said analysts.