Vietnam skyline

Vietnam Trade January 2024

Vietnam: Merchandise exports accelerate in January

Merchandise exports soared 42.2% year-on-year in January, following December’s 13.1% upturn. January’s result marked the fastest outturn since April 2021. However, the data was flattered by a low base effect, as exports plummeted in January 2023 amid Lunar New year celebrations—which this year fall in February. Looking at subsectors, the crucial electronics and textile industries saw rapid expansions in the month, driving the headline reading. Meanwhile, merchandise imports jumped 33.5% in annual terms in January (December: +12.3% yoy), marking the strongest reading since June 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 2.9 billion surplus in January (December 2023: USD 2.3 billion surplus; January 2023: USD 0.7 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 30.1 billion surplus in January, compared to the USD 27.9 billion surplus in December.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest