Vietnam's exports up 13.8% YoY, imports up 18.4% YoY in H1 2024: Govt

21 Jun '24

1 min read

Vietnam's exports up 13.8% YoY, imports up 18.4% YoY in H1 2024: Govt

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Vietnam's exports grew by about 13.8 per cent YoY to $188.97 billion in H1 2024, and imports rose by 18.4 per cent YoY, according to government statistics.
The total export-import value during the period hit $369.59 billion—a YoY increase of 16.03 per cent, with a trade surplus of $8.4 billion.
An uneven recovery in industrial production was noticed.

Vietnam’s exports grew by about 13.8 per cent year on year (YoY) to $188.97 billion in the first half (H1) this year, and imports rose by 18.4 per cent YoY, according to the ministry of industry and trade (MoIT)’s planning and finance department.

Exports of the processing and manufacturing sector was $159.92 billion during the period, said Bui Huy Son, head of the department.

The total export-import value during the period hit $369.59 billion—a YoY increase of 16.03 per cent, with a trade surplus of $8.4 billion, a domestic news agency reported.

However, the department pointed to an uneven recovery in industrial production, along with difficulties in energy production and supply, especially electricity and oil and gas, due to price fluctuation in international and domestic markets.

Obstacles to exports include rising prices, particularly those of farm produce and energy, surging shipping rates, and the pressure of trade remedies investigations and technical barriers on some key export items to big markets like the European Union (EU) and the United States.

Fibre2Fashion News Desk (DS)

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