VINACHEM

Viet Nam's trade with the rest of the world was estimated at US$29.78 billion in the first half of January, representing a year-on-year increase of 5.4 percent, according to the General Statistics Office (GSO).

The above figure includes US$15.08 billion in export turnover, up 4.1 percent against the same period last year. Of the figure, export value of domestic economic sector was estimated at US$4.02 billion, up 10.4 percent while that of FDI sector (including crude oil) rose 1.9 percent to US$11.06 billion.

In the reviewed period, four commodities posted an export turnover of over US$1 billion each, making up 53.2 percent of the total export revenue.

Exports were one of the three important pillars of Viet Nam's economic growth in 2023, alongside investment and consumption.

The country's exports witnessed a double-digit reduction in the first quarter of 2023 but started to pick up since the second quarter. Notably, from July to the end of the year, export value reached more than US$30 billion each month. Exports in 2023 fell 4.4 percent from 2022 to US$355.5 billion.

This year, the Southeast Asian country targets to increase total export turnover by about 6 percent compared to 2023 and maintain a trade surplus of about US$15 billion for the ninth consecutive year.

To achieve the target, the country will promote negotiations and signing of new agreements to diversify markets, products and supply chains./.  – VGP –