Vietnam's trade surplus $8.08 bn in Q1 2024; double that of Q1 2023

31 Mar '24

1 min read

Pic: Adobe Stock

Insights

Vietnam's trade surplus was $8.08 billion in Q1 2024, almost double that in Q1 2023, official statistics show.
The country's total import-export turnover was an estimated $178.04 billion during the quarter—up 15.5 per cent YoY.
Exports were worth $93.06 billion, a 17 per cent rise YoY, while imports were worth $84.98 billion—up by 13.9 per cent YoY.

Vietnam’s trade surplus was $8.08 billion in the first quarter (Q1) this year, almost double that in Q1 2023, according to the general statistics office (GSO).

The country's total import-export turnover was an estimated $178.04 billion during the quarter—up 15.5 per cent year on year (YoY).

Exports were worth $93.06 billion, a 17 per cent rise YoY. Processed industrial goods accounted for nearly 88 per cent of the total export turnover, estimated at $82.02 billion.

Imports during the quarter were worth $84.98 billion—up by 13.9 per cent YoY. Most imports were materials for production, worth $79.9 billion, a Vietnamese media outlet reported.

The United States was Vietnam’s largest export market during the quarter, with an estimated turnover of $26.2 billion.

China was the country's biggest import market, with an estimated turnover of $29.4 billion.

ALCHEMPro News Desk (DS)

More Textiles News - Vietnam...