Vietnam Balance of Trade

Vietnam's trade surplus on goods increased to USD 4.53 billion in August 2024 from USD 3.44 billion in the corresponding month of the previous year. It was the largest trade surplus on record, as exports grew more than imports, preliminary estimates showed. Shipment advanced 14.5% from a year earlier to USD 37.59 billion, while imports rose at a softer 12.4% to USD 33.06 billion. For the first eight months of 2024, the trade surplus narrowed to USD 19.07 billion from USD 19.9 billion in the same period last year, with exports and imports climbing by 15.8% and 17.7% each. The US is Vietnam's largest export market, with an estimated turnover of USD 77.9 billion. During the period, shipments of industrial goods group reached USD 233.33 billion, accounting for 88% of total exports. Meanwhile, China remained the biggest import market, with an approximate value of USD 92.3 billion.