Vietnam’s exports surge 42% in January

In January, Vietnam's exports soared to nearly $33.6 billion, with the fishery industry leading the way with high export numbers

According to a report by the Ministry of Industry and Trade, Vietnam’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.

Vietnam’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.

The US remained Vietnam’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.

Vietnam’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.

TB (according to VNS)