Vietnam has recorded a trade surplus for eight consecutive years
According to the Vietnamese News agency, the latest report of the Ministry of Industry and Trade shows that exports in 2023 continue to face many difficulties and challenges, the global economic and trade growth rate is at a low level, the United States, the European Union, Japan and ASEAN and other large export markets consumer demand is weak, but Vietnam has fought for the recovery of major markets and traditional markets, vigorously promote exports.
In 2023, Vietnam's total import and export volume amounted to about $683 billion, of which exports amounted to about $355.5 billion and imports amounted to $328.5 billion, achieving a trade surplus of about $26 billion for the eighth consecutive year, a two-fold increase over 2022, making a positive contribution to the balance of payments and contributing to the improvement of foreign exchange reserves and exchange rate stability.
The Ministry of Industry and Trade aims to increase exports by about 6 percent in 2024 compared to 2023 and maintain a trade surplus estimated at $15 billion.