Vietnam’s trade surplus records $14.08b in July

Vietnam’s trade surplus widened to $14.08 billion in the first seven months of 2024 buoyed by a surge in both exports and imports, according to the General Statistics Office on Monday.

Total trade value reached $439.88 billion during the period, representing a 17.1 per cent year-on-year increase.

Exports climbed 15.7 per cent to $226.98 billion, while imports rose 18.5 per cent to $212.9 billion. The foreign-invested sector contributed significantly to the overall trade surplus, accounting for 72.2 per cent of total exports.

In July alone, trade value reached $69.72 billion, marking an 8.7 per cent increase from June and a 21.8 per cent year-on-year growth.

Exports in July totaled $35.92 billion, up 19.1 per cent year-on-year, while imports climbed 24.7 per cent to $33.8 billion.

The United States emerged as Vietnam’s largest import market with a value of $66.1 billion, while China remained the top export destination with $79.2 billion in revenue.

Lê Quốc Phương, former deputy director of the Vietnam Industry and Trade Information Centre, expressed optimism about achieving the year’s export target of $377 billion.

1 US dollar = 25,287.50 Vietnamese dong

Attribution: Vietnam News Agency (VNA)