Vietnam's Trade Performance Highlights

In a remarkable display of economic resilience, Vietnam has reported a significant trade surplus of $1.47 billion over the first two months of the year. The total import-export turnover reached an impressive $127.07 billion, marking a 12% increase from the previous year.

Export Growth and Sector Contributions

Exports in February alone stood at $31.11 billion, experiencing a slight monthly decrease but a substantial 25.7% year-on-year growth. The domestic economic sector led the charge with a 32.8% growth rate, while the foreign-invested sector, including crude oil, saw a 23.2% increase.

For the period, exports totaled $64.27 billion, an 8.4% rise from last year. The domestic sector's contribution was notable at $17.92 billion, up 12.8%, whereas the foreign-invested sector accounted for $46.35 billion, up 6.7%.

Key Export Items and Markets

Twelve export items surpassed the $1 billion mark, with four exceeding $5 billion, highlighting the diversity and strength of Vietnam's export capabilities. Processed industrial goods dominated, contributing $57.01 billion, or 88.7% of total exports.

The U.S. remained Vietnam's largest export market with $19.6 billion in turnover, underscoring the strong trade ties between the two countries. Meanwhile, China continued to be the primary source of imports, totaling $23.3 billion.

Trade Surpluses and Deficits

Vietnam achieved significant trade surpluses with the U.S. and the EU, at $17 billion and $6.4 billion respectively. However, it faced trade deficits with China, South Korea, and ASEAN, indicating the complex dynamics of international trade.