20-12-2023 (HANOI) In a recent announcement, the Ministry of Industry and Trade disclosed that Vietnam is poised to achieve a trade surplus of $30 billion in the current year, marking a threefold increase from the previous year’s figures. The ministry’s report outlined expectations for exports in 2023, projecting a value of $354.5 billion, reflecting a 4.6% decrease compared to the previous year. Concurrently, the report indicated an anticipated 9.6% year-on-year growth in retail sales for the year.
If these projections materialize, it would mark the eighth consecutive year that Vietnam has registered a trade surplus. The ministry underscored that this consistent surplus has played a pivotal role in bolstering the country’s foreign exchange reserves and maintaining stability in its foreign exchange rate.
The report attributed the decline in annual exports to subdued global demand, highlighting the impact of external economic factors on Vietnam’s trade performance. Despite this dip, the sustained trade surplus is viewed as a testament to the resilience of Vietnam’s economy amid challenging global conditions.
