Viet Nam’s foreign trade hits record high in 2024

Viet Nam’s foreign trade reached an all-time high of US$786.29 billion in 2024, up 15.4 percent against the previous year, reported the General Department of Customs. 

Of the figure, export turnover rose 14.3 percent year-on-year to US$405.53 billion while import value increased by 16.7 percent to US$380.76 billion, resulting in a trade surplus of US$24.77 billion.

The export value of the domestic sector and foreign-invested sector (including crude oil) were estimated at US$114.59 billion and US$290.94 billion, up 19.8 percent and 12.3 percent, respectively.

The U.S. remained Viet Nam's largest export market with US$119.6 billion, while China was the largest supplier of goods to Viet Nam with US$144.3 billion.

Viet Nam enjoyed trade surplus with the U.S. (US$104.6 billion), EU (US$35.4 billion) and Japan (US$3.2 billion) while suffered trade deficit with China (US$83.7 billion), South Korea (US$30.7 billion) and ASEAN (US$9.9 billion).