Vietnam records trade surplus of $4.67 billion in the first half of the year
Vibrant Trade Scene in Việt Nam
HÀ NỘI, Vietnam - A robust surge in exports has propelled Vietnam's total import-export turnover from May 16 to 31, reaching an impressive US$42.5 billion. This figure marks a striking 17.6% increase compared to the first half of the month.
Thanks to this export boom, the trade balance for this period registered a substantial surplus of $2.94 billion, raising the total trade surplus for the first five months of the year to a considerable $4.7 billion.
A quick glance at the numbers reveals that, in the first five months, Vietnam's total import-export turnover reached a staggering $355.8 billion. This represents a noteworthy 15.7% increase compared to the same period in 2024.
Notably, the foreign direct investment (FDI) sector, a dominating force, clocked in at $243.5 billion—up 17.3%. Meanwhile, domestic enterprises contributed $112.3 billion, demonstrating a respectable 12.2% rise.
The latter half of May witnessed a significant 34.4% increase in export turnover, reaching $22.7 billion. This growth can be attributed primarily to product groups like electronics, machinery, textiles, and wood. Strikingly, steel exports more than doubled, recording a sharp increase of 114.8%.
By the end of May, the total export value had climbed to a total of $180.23 billion, marking a 14% year-on-year increase. The FDI sector stood out, contributing over $130 billion—up 15%—representing a remarkable 72% of the country's total export value.
On the import side, goods imported during the latter half of May amounted to $19.76 billion—a 2.9% increase compared to the first half. Significant increases were observed in product groups such as machinery and equipment, electronic components, liquefied natural gas, and corn. However, imports of several raw materials, like crude oil, fabric, chemicals, and wheat, decreased.
Total import turnover for the first five months reached $175.6 billion—an increase of 17.5%. - BIZHUB/VNS
Loading goods in Hải Phòng Port in the North of Việt Nam. - Photo congluan.vn
In the dynamic world of global trade, several factors contribute to growth such as trade agreements and negotiations, foreign direct investment, and global demand. Key product groups in Vietnam include electronics, textiles, and processed industrial goods, with electronics often being a key driver due to global demand for electronic components and devices. For more specific data on May 2024, historical trade statistics or reports from that period would be consulted.
- Amidst the robust growth in Vietnam's trade scene, the merged sectors of AI (Artificial Intelligence) and trade are expected to witness significant expansion, contributing to the overall export value, particularly in the electronics sector.
- In the realm of financial planning for Vietnamese industries, the surplus trade balance and the heightened foreign direct investment in sectors like AI and finance will play a crucial role in shaping the nation's economic trajectory in the future.
