Import-export turnover in 2024 is expected to reach 782 billion USD, the highest level ever, according to the General Department of Customs.
According to the General Department of Customs, Vietnam’s import-export value as of December 14 reached nearly 745.4 billion USD. Of which, exports were 384.4 billion USD, while imports were nearly 361 billion USD. These levels increased by 14.5% and 16.3% compared to the same period last year.
The customs agency forecasts that this year’s import-export turnover could reach over 782 billion USD – a new milestone for Vietnam. This level exceeds the old record set in 2022 (732 billion USD). With the record mark expected to be reached this year, Vietnam’s import-export turnover has increased more than 2 times in 10 years.
According to the operator, this year’s trade surplus is estimated at over 23.5 billion USD. In fact, as of December 14, Vietnam had a surplus of more than 23.4 billion USD. This figure is nearly 2.3 billion USD lower than the same period last year.
Previously, a report by UOB Bank forecast that Vietnam’s exports would increase by 18%, the highest since 2021. UOB’s forecast means that this year’s export results could be close to 420 billion USD. According to this bank, trade growth is partly due to the continued expansion of foreign direct investment flows. In the first 10 months of the year, 27.3 billion USD of FDI was registered in Vietnam. Disbursed foreign capital is expected to reach a record level for the third consecutive year.
This year, the National Assembly assigned the State budget revenue estimate from import and export to be 375,000 billion VND. However, by mid-December, budget revenue from this activity was about VND402,680 billion, exceeding the estimate by 7%. Authorities estimate that the entire year’s revenue could exceed 11.5-12%, equivalent to VND418,000-420,000 billion.
Việt Nam sẽ đạt kim ngạch xuất nhập khẩu kỷ lục trên 780 tỷ USD – Báo VnExpress Kinh doanh