Vietnam Balance of Trade

Vietnam’s trade surplus on goods shrank to USD 0.52 billion in December 2024 from USD 2.06 billion in the same month last year. This marked the seventh consecutive month of merchandise gains, but it was the smallest surplus in the sequence, as exports rose less than imports. Exports increased 5.3% year-on-year to USD 35.53 billion, while imports climbed 7.2% to USD 35.01 billion. For the full year of 2024, the trade balance of goods showed a surplus of USD 24.77 billion, compared to a surplus of USD 28.4 billion in the previous year. During this period, the U.S. was Vietnam's largest export market, with an estimated turnover of USD 119.6 billion. Shipments of industrial goods group accounted for USD 356.74 billion, representing 88% of total exports. Meanwhile, China remained the biggest import market, with turnover reaching USD 144.3 billion. Purchases of production materials accounted for USD 356.43 billion, representing 93.6% of total imports.