Viet Nam Runs US$2.92 Billion Trade Surplus in January

10:35:07 AM | 2/9/2024

Viet Nam’s export turnover was estimated at US$33.57 billion in January, up 42 percent against the same period last year, contributing to bringing the trade surplus to US$2.92 billion, according to the General Department of Customs.

Meanwhile, import value was estimated at US$30.65 billion, up 4.2 percent, equivalent to US$1.25 billion against December, 2023 or 33.3 percent against the same period last year.

In January, total import and export value was estimated at US$64.22 billion, posting a month-on-month increase of 5.5 percent, or US$3.35 billion and a year-on-year growth of 37.7 percent or US$17.58 billion.

This year, the Ministry of Industry and Trade set a target of export revenue increasing by 6 percent, equivalent to US$377 billion, with trade surplus projected at US$15 billion.

To reach the above target, the ministry said it will focus on effectively exploiting Viet Nam's free trade agreements (FTAs) and implementing new agreements to expand and diversify markets, export products, and supply chains.

It will also better utilize neighboring markets and other potential markets, together with building brands and promoting sustainable exports while continuing to renew and enhance the effectiveness of trade promotion programs.

Viet Nam's total export revenue reached US$355.5 billion last year, down 4.4 percent compared to 2022, official data show.

Source: VGP