Vietnam Balance of Trade

Vietnam’s trade surplus on goods fell to USD 1.99 billion in October 2024 from USD 2.73 billion in the same month of the previous year, marking the fifth consecutive month of merchandise gain but the smallest surplus in sequence, as exports grew less than imports. Shipments rose by 10.1% year-on-year to USD 35.59 billion, while imports grew by 13.6% to USD 33.6 billion. For the 1st ten months of the year, the trade surplus narrowed to USD 23.31 billion from USD 24.8 billion in the same period last year, with exports and imports rising by 14.9% and 16.8%, respectively. The US is Vietnam’s largest export market, with an estimated turnover of USD 98.4 billion. During this period, total shipments of industrial goods reached USD 295.53 billion, accounting for 88.0% of total exports. Meanwhile, China remained the biggest import market, with an approximate value of USD 117.7 billion. Imports of primary production materials totaled USD 292.57 billion, representing 93.7% of total purchases.