Vietnam’s trade surplus hit a record 24.61 billion USD in the first 10 months of this year, 2.6-fold higher than the surplus of 9.56 billion USD posted in the same period of 2022.

China’s official permission for bird’s nest products from Vietnam to be exported to the country will create significant opportunities for the local bird’s nest farming industry and the production and processing of bird’s nests in Vietnam.

Vietnam’s economy has steadily regained its growth momentum following the COVID-19 pandemic. Its growth rate, though short of expectations, remains at the top among developing and emerging countries, with GDP in 2023 estimated at some 435 billion USD.

In the first 10 months of this year, Vietnam’s average consumer price index (CPI) increased 3.2 percent, foreign direct investment rose 14.7 percent, a trade surplus of 24.61 billion USD was recorded, and international visitors increased 4.2-fold compared to the same period of 2022.

Vietnam’s total import-export turnover of goods hit 497.66 billion USD in the first nine months of this year, down 11 percent over the same period last year. Trade was in surplus to the tune of 21.68 billion USD.

Rice exports reached a record 5.81 million tons in the first eight months of this year, a 21.4% increase over the same period of 2022. Rice export turnover in the period therefore came in at nearly 3.16 billion USD, an increase of more than 35.7%.

Vietnam’s digital economy has played an important role in the country’s socio-economic development in recent times, and accounted for nearly 15% of GDP in the first half of this year, according to the Ministry of Information and Communications.

Vietnam’s CPI rose 3.12% in the January - July period, foreign direct investment rose 4.5% and foreign tourist arrivals rose 6.9-fold. The country posted a trade surplus of around 15.23 billion USD.

The US remains the largest importer of Vietnamese goods during the first seven months of 2023 with an estimated turnover of 52.4 billion USD. It was followed by China with a projected figure of 58.6 billion USD.

The Vietnam - Israel Free Trade Agreement (VIFTA) was signed on July 25 and is the latest free trade agreement (FTA) Vietnam is a party to. Joining more FTAs will create significant opportunities for the country to deeply participate in global value chains, increase exports, boost GDP growth, and improve its institutions.

Five commodities posted an export value of more than 10 billion USD in the first seven months of this year, making up 57.6% of Vietnam’s total exports.

As of July 20, total newly-registered capital, additional capital, and capital contributions and share purchase by foreign investors stood at nearly 16.24 billion USD, up 4.5% compared to the same period of 2022 and 8.8% compared to the first half of the year.

Total revenue from retail sales of consumer goods and services increased 10.9% year-on-year in the first half of this year, to more than 3 quadrillion VND (127 billion USD), according to the General Statistics Office (GSO).

Vietnam's rice export value rose 34.7% year-on-year to 2.3 billion USD in the first six months of this year. Rice export volume was estimated at 4.27 million tonnes, up 22.2% over the same period last year.

In the first six months of this year, five commodities posting export value of more than 10 billion USD, making up 57.8% of Vietnam’s export turnover.

Vietnam’s consumer price index (CPI) rose 3.84% year-on-year in the first four months of this year, primarily due to higher prices for education, housing and construction materials, culture, entertainment and tourism, food, and electricity.