Vietnam Trade Trends September 2023

In September 2023, Vietnam's trade surplus reached USD 2.29 billion, compared to USD 1.43 billion in the corresponding month of the previous year, as indicated by preliminary data. This surplus expansion was primarily fueled by a noteworthy increase in exports, marking the first positive shift in six months, with a year-on-year rise of 4.6 per cent, totaling USD 31.41 billion. Concurrently, imports also showed an uptick, increasing by 2.6 per cent to USD 29.12 billion.

When considering the cumulative trade performance for the first nine months of the year, Vietnam's trade surplus witnessed a substantial widening, surging to USD 21.68 billion. This remarkable growth is in stark contrast to the same period in 2022 when the surplus stood at USD 6.9 billion. These developments reflect the country's strong trade position and resilience, underscoring the growing significance of its exports in the global market.