Việt Nam posts trade surplus of $24.77 billion in 2024
Việt Nam posts trade surplus of $24.77 billion in 2024
Việt Nam's total trade revenue reached US$786.29 billion in 2024, up 15.4 per cent year-on-year, with a trade surplus of $24.77 billion, the General Statistics Office (GSO) said at a press conference in Hà Nội on Monday.
The December value was $70.53 billion, up 6.2 per cent month-on-month and up 15.9 per cent compared to the same period last year, according to the agency.
In 2024, the country's exports expanded by 14.3 per cent to $405.53 billion, while imports grew by 16.7 per cent to $380.76 billion. Of the total export value, the domestic sector contributed $114.59 billion, a 19.8 per cent increase, accounting for 28.3 per cent. The foreign-invested sector, including crude oil, generated $290.94 billion, up 12.3 per cent and making up 71.7 per cent of total exports.
As many as 37 key export items generated over $1 billion, collectively accounting for 94.3 per cent of the total exports. Among them, eight exceeded the $10 billion mark, contributing a substantial 69 per cent of the combined value.
Meanwhile, of the accumulative import value, the domestic sector went up 19.5 per cent to $140.11 billion, and the foreign-invested sector recorded $240.65 billion, a 15.1 per cent increase.
To promote export in 2025, Deputy Minister of Industry and Trade Phan Thị Thắng said that her ministry continues to identify institutional building as one of the three strategic breakthroughs.
This year, it will focus on implementing the revised Electricity Law, play a role in building documents guiding the implementation of the law, and perfecting the draft Law on Chemicals for submission to the National Assembly for approval at its nineth session.
It will also make efforts to enhance the operational efficiency and competitiveness of industrial manufacturing enterprises, actively summarising mechanisms and policies related to international economic integration. In addition, Việt Nam will optimise the existing free trade agreements (FTAs) and seek to sign new ones to expand and diversify markets, import and export items, and supply chains.
Deputy Minister of Agriculture and Rural Development Võ Văn Hưng said that the ministry will closely coordinate with the Ministry of Industry and Trade and parties to promote the production and consumption of domestic agricultural products, and negotiate to open up and promote export markets for agro-forestry-aquatic products in 2025 and the following years.
