Blog > Marketing > Vietnam Releases Foreign Trade And Foreign Investment Data for 2023: The Largest Trade Surplus In History!
Vietnam Releases Foreign Trade And Foreign Investment Data for 2023: The Largest Trade Surplus In History!
Jayson 09 Jan 2024 08:14
According to statistics released by the Ministry of Industry and Trade of Vietnam on January 2, Vietnam's total merchandise import and export in 2023 will reach $683 billion, with a trade surplus of $28 billion.
This is Vietnam's largest trade surplus on record and the eighth consecutive year of trade surplus.
Among them, exports were $355.5 billion, with 35 categories of products exceeding $1 billion, accounting for 93.6%, and 7 categories of products exceeding $10 billion, accounting for 66%. In 2023, Vietnam's merchandise exports fell by 4.4% year-on-year ($371.3 billion in 2022), failing to achieve the planned growth target of 6%.
According to reports, Vietnam has now become one of the top 20 economies in the world in terms of trade volume. Foreign-funded enterprises have made significant contributions, and a large amount of capital has flowed into the manufacturing sector, playing an important role in increasing exports, creating jobs, and building pillar industries (electronics, machinery, etc.) role in promoting Vietnam's economic growth.
Data shows that in some product categories with large export volumes, foreign-invested enterprises account for as high as 99% of exports, such as mobile phones 99.6%. In addition, computers 98%, machinery 93%, and textiles more than 60%.
This is Vietnam's largest trade surplus on record and the eighth consecutive year of trade surplus.
Among them, exports were $355.5 billion, with 35 categories of products exceeding $1 billion, accounting for 93.6%, and 7 categories of products exceeding $10 billion, accounting for 66%. In 2023, Vietnam's merchandise exports fell by 4.4% year-on-year ($371.3 billion in 2022), failing to achieve the planned growth target of 6%.
According to reports, Vietnam has now become one of the top 20 economies in the world in terms of trade volume. Foreign-funded enterprises have made significant contributions, and a large amount of capital has flowed into the manufacturing sector, playing an important role in increasing exports, creating jobs, and building pillar industries (electronics, machinery, etc.) role in promoting Vietnam's economic growth.
Data shows that in some product categories with large export volumes, foreign-invested enterprises account for as high as 99% of exports, such as mobile phones 99.6%. In addition, computers 98%, machinery 93%, and textiles more than 60%.
