Businesses full of orders, driving stronger export growth
After a period of downturn, many of Vietnam’s key export sectors, including textiles and footwear, have experienced a robust recovery, with some products posting double-digit growth rates.
Vietnam’s trade turnover is expected to reach a record 800 billion USD in 2024, surpassing the record of 732 billion USD in 2022.
Data from the Ministry of Industry and Trade shows that as of October 15, export earnings from key sectors such as computers and electronic components, phones and components, and textiles had reached over 55 billion USD, nearly 44 billion USD, and almost 29 billion USD, respectively.
Overall, the country’s total import-export turnover exceeded 610.5 billion USD, up over 16% year-on-year or over 85.8 billion USD compared to the same period last year.
Looking ahead, the export of agricultural and processed-manufactured products is expected to maintain strong growth in the final months of the year, particularly to the US and EU markets, as inflation pressures ease and purchasing power begins to recover./.
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