VINACHEM

As of October 15, Viet Nam's trade with the rest of the world hit US$610.57 billion, up 16.4 percent (or US$85.82 billion) against the same period last year, reported the General Department of Customs.

Of the figure, export turnover reached US$315.91 billion, a year-on-year increase of 15.3 percent while import value stood at US$294.66 billion, up 17.5 percent, resulting in a trade surplus of US$21.25 billion.

Key export items included computers, electronics and spare parts (US$11.67 billion, up 26.7 percent), equipment, machines and tools (US$7.34 billion, up 22.4 percent), garments (US$2.61 billion, up 10 percent), phones and accessories (US$2.31 billion, up 5.6 percent), and timber (US$2.2 billion, up 21.6 percent).

Meanwhile, computers, electronics and spare parts were among Viet Nam's key import items in the reviewed period, with US$16.82 billion, up 25.2 percent.

By the end of September this year, nine localities reported export value exceeding US$10 billion each, the customs agency said.

The southern metropolis Ho Chi Minh City took the lead with US$34.25 billion in export value, followed by the northern province of Bac Ninh US$29.53 billion, Binh Duong US$25.44 billion, Bac Giang US$22.46 billion, Hai Phong US$22.21 billion, Thai Nguyen US$21.8 billion and Dong Nai US$17.55 billion, and Ha Noi US$14 billion.

Viet Nam's import-export value is likely to touch the US$800 billion mark by this year-end, far exceeding a record of US$732 billion seen in 2022, according to economists.

The country's GDP rose from US$346 billion in 2020 to US$433 billion in 2023, respectively becoming the 37th and 34th largest economy in the world.

The GDP size is expected to reach US$500 billion in 2025, becoming the 33rd largest economy globally and the 4th in ASEAN, according to Prime Minister Pham Minh Chinh./.   

– Source: VGP –