HEADLINE-ECONOMY | Soaring to Success: Việt Nam’s exports surge 42% in January

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Việt Nam’s exports reached nearly US$33.6 billion in January, a 42 per cent surge over the same period last year and the highest level since April 2022.

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HCM CITY — Việt Nam’s exports reached nearly US$33.6 billion in January, a 42 per cent surge over the same period last year and the highest level since April 2022.

According to a report by the Ministry of Industry and Trade, Việt Nam’s total imports and exports of goods in the first month surpassed $64 billion, up 38 per cent year-on-year.

The surge in exports was mainly driven by the agriculture-forestry-fisheries, and processing industries, which increased nearly 97 per cent and 38 per cent, respectively.

The export of phones and components also rose by over 56 per cent to nearly $6 billion in January.

Việt Nam’s agricultural products maintained their strong export performance, with coffee prices surging by more than 35 per cent and rice prices escalating by 33.5 per cent year-on-year.

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The US remained Việt Nam’s largest export market, with recorded imports of $9.6 billion, while traditional export markets such as China, the EU, and ASEAN also showed growth.

Việt Nam’s imports in January totaled more than $30.6 billion, with China remaining the largest exporter at nearly $11 billion.

The trade balance continued to exhibit a surplus of $2.9 billion, with significant surpluses with the US and China.

The Ministry of Industry and Trade anticipated challenges for this year’s exports due to increased transport costs and escalating political tensions in the world.

The ministry plans to focus on stimulating domestic consumption, promoting production, and monitoring market developments to avoid shortages or disruptions in the supply of goods. — VNS

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