Vietnam’s exports surge in first half of 2024, driving trade surplus

Vietnam's goods export turnover was estimated at 190.08 billion USD in the first half of 2024, a year on year rise of 14.5% and pushing up the country's trade surplus to 11.63 billion USD, according to the General Statistics Office (GSO). The growth was driven by both domestic and foreign-invested sectors. The domestic economic sector saw an export rise 20.6% to 53.39 billion USD USD, accounting for 28.1% of the total. Meanwhile, the foreign-invested sector, including crude oil, posted a 12.3% increase to 136.69 billion USD, making up the remaining 71.9%. Imports also grew steadily, rising 17% year-on-year to 178.45 billion USD. The domestic economic sector contributed 65.74 billion USD to import turnover, reflecting a 22.3% increase. The foreign-invested sector imported 112.71 billion USD worth of goods, up 14.1% compared to the same period last year. Source: Vietnam News Agency