Vietnam records trade surplus of $11.63 billion in first half of 2024

This figure represents a decrease from the $13.44 billion surplus recorded in the same period in 2023. Despite this decline, the trade surplus signifies a notable accomplishment for Vietnam's economy.

Vietnam's goods export turnover soared to an estimated $190.08 billion, marking a year-on-year rise of 14.5%. This impressive growth is propelled by both domestic and foreign-invested sectors, with the domestic economic sector witnessing an export rise of 20.6% to $53.39 billion which accounts for 28.1% of the total.

The foreign-invested sector, including crude oil, also posted a 12.3% increase to $136.69 billion, making up the remaining 71.9.

The country's key export sectors in the first half of 2024 included electronics, computers, and components which made up $32.91 billion (an upward of 28.6% year-on-year).

Nonetheless, the FDI sector in Vietnam has been a major player, recording a trade surplus of $23.98 billion when factoring in crude oil activities. This indicates the strong performance of foreign enterprises operating within Vietnam and their contribution to the nation's economy.

Vietnam's General Statistics Office added that China and the United States were Vietnam's biggest trade partners in the first half of 2024, with total trade values of $94.8 billion and $61.4 billion, respectively. Other significant trade partners included the ASEAN bloc ($40.8 billion), South Korea ($38.4 billion), the European Union ($32 billion), and Japan ($21.7 billion).