Vietnam trade performance: January to October 2024

Vietnam has achieved remarkable trade performance in 2024, recording a 16 percent year-on-year increase in trade turnover for the first 10 months, reaching US$647.87 billion, according to the General Department of Customs. Export activities contributed nearly US$335.59 billion, rising 15 percent, while imports surged by 17 percent to reach US$312.28 billion. Despite this robust growth, Vietnam’s trade surplus slightly narrowed, totaling US$23.31 billion compared to US$24.8 billion during the same period last year.

Growth drivers

In October alone, import-export revenue climbed to US$69.19 billion, a 5 percent increase year-on-year, demonstrating sustained momentum. The Ministry of Industry and Trade (MoIT) plays an active role in expanding market access for Vietnamese products and supporting businesses in navigating international trade. MoIT’s efforts in facilitating border trade include implementing promotion programs and alerting businesses to potential trade defense cases. This proactive approach has shielded Vietnamese goods from unnecessary export risks.