Trade turnover nears $500 billion in first nine months

The Southeast Asian nation posted a trade surplus of $22 billion in the reviewed period, said the customs agency.

In September alone, export and import turnover totaled $59.16 billion, of which export value dipped 6.3 percent from the previous month to $30.68 billion.

Top export commodities in September include computers, electronic products and spare parts ($5.48 billion); mobile and spare parts ($5.04 billion); machines and equipment ($4.07 billion); garment and textiles ($2.57 billion); footwear ($ 1.34 billion); transport vehicles and spare parts ($ 1.21 billion) and furniture ($ 1.14 billion).

The Vietnamese economy expanded 4.24 percent in the January-September period compared to the same period last year,  improving to 3.72 percent in the first half of 2023.

Vietnam’s GDP pace has gained momentum towards the year-end, said Singapore-based bank UOB in its report released earlier this month. 

UOB cut its full-year GDP growth forecast for Vietnam to 5 percent from the previous 5.2 percent, the second downward revision.

HSBC predicted that exports and domestic consumption will be the main driving forces to support Vietnam’s GDP growth in 2024 to reach 6.3 percent.

Source: VGP