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Vietnam's trade surplus hits record high in 2023

HANOI
2023-12-21 16:14

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HANOI, Dec. 21 (Xinhua) -- Vietnam has run a trade surplus for eight years in a row, estimated at a record high of nearly 30 billion U.S. dollars this year, nearly three times higher than in 2022, Vietnam News reported Thursday, citing the Ministry of Industry and Trade.

This contributes positively to ensuring payment balance, increasing foreign exchange reserves, stabilizing exchange rates and other macroeconomic indicators, said Phan Thi Thang, the ministry's deputy minister.

She said 33 items recorded export turnover of 1 billion dollars in 11 months, of which seven posted a value of more than 10 billion dollars, accounting for 66 percent of the total revenue.

"In the context of a global slowdown and declining global aggregate demand, Vietnam's export has not yet recovered to the previous years' levels, but the drops are narrowing down significantly," she said.

According to the ministry's Agency for Foreign Trade, Vietnam will strive to increase the export revenue growth by 6 percent, and trade surplus to some 15 billion dollars in 2024.
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