30-12-2023 (HANOI) Vietnam recorded $683 billion in total foreign trade for 2023, down 6.6% from the previous year but still resulting in a sizable $28 billion trade surplus, according to newly released government statistics.
The General Statistics Office reported exports reached $355.5 billion, a 4.4% decline, while imports dropped 8.9% to $327.5 billion compared to 2022. The dip comes amid global economic headwinds.
But Vietnam maintained robust trade volumes on the back of continued export strength from its industrial processing sector, which accounted for $313.73 billion or 88.3% of all exports.
With many factories dependent on imported materials, China remained Vietnam’s largest source of imports in 2023, with two-way trade topping $111.6 billion.
