AsemconnectVietnam - Vietnam's trade with some markets such as the United States, Indonesia, the Philippines... in 2024 recorded breakthrough growth and set many new records.

According to the latest data from the General Statistics Office, in 2024, the total import and export turnover of goods reached 786.29 billion USD, an increase of 15.4% over the previous year, of which exports increased by 14.3%; imports increased by 16.7%. The trade balance of goods had a surplus of 24.77 billion USD.
This was a very impressive result in Vietnam's international trade activities last year, when the global economic context continued to face challenges from weak growth and the risk of inflation still rising, continuing to affect macroeconomic stability and growth prospects of our country's highly open economy.
Experts say that the spectacular growth of import-export activities has greatly supported the economy. Notably, the contribution to the overall import-export achievements of the whole country cannot be ignored without mentioning the breakthrough growth in our country's key export markets in 2024.
In 2024, Vietnam's import-export turnover with key partner markets all grew dramatically, the exports to many markets had impressive growth rates and reached double digits.
According to the data from the General Statistics Office, in 2024, the United States was Vietnam's largest export market with a turnover of 119.6 billion USD, this was also the only export market to date where our country has achieved a turnover of 100 billion USD.
A bright spot in Vietnam-US trade relations was the export of agricultural, forestry and fishery products. The US market favors this product from Vietnam. In the first 11 months of 2024, agricultural, forestry and fishery exports to the United States reached about 12.3 billion USD, accounting for 21.7% of Vietnam's total agricultural, forestry and fishery exports to the world and 10% of total exports to the United States, up by 24.6% in value over the same period of 2023.
In the past 3 years, the export value of processed fruits and vegetables from Vietnam to this market increased by 30 - 45%/year. Meanwhile, the growth rate of this item in the EU reached an average of 10 - 20%/year. Therefore, the United States is truly a potential market for Vietnamese fruits and vegetables.
Meanwhile, in the Asian market region, in 2024, Vietnam - Indonesia trade also had a breakthrough double-digit growth, the highest ever.
It is estimated that in 2024, the total bilateral turnover reached at least 16 billion USD, of which exports were estimated to reach more than 6 billion USD, the highest level ever. The bilateral trade turnover has recorded rapid growth in the past 4 years from 8.07 billion USD in 2020 to 16 billion in 2024.
Vietnam's agricultural product exports to the Indonesian market have grown impressively, of which rice is the commodity group with the highest export turnover. In the first 11 months of 2024, Vietnam's total rice exports to Indonesia reached 1,130,339 tonnes, worth of 679 million USD, up by 6.2% in volume and 10.4% in value. With this figure, Indonesia continued to be Vietnam's second largest rice export market in 2024.
In 2024, trade between Vietnam and the Philippines also recorded impressive growth in the context of Vietnam seeking new directions for exporting goods, helping to reduce difficulties and pressure on domestic manufacturing enterprises.
In 2024, bilateral trade between Vietnam and the Philippines was estimated to exceed 8 billion USD, reaching about 8.5 billion USD, of which Vietnam has a trade surplus of over 3 billion USD.
With the results achieved in 2024, in 2025, the Ministry of Industry and Trade aims for total export turnover to increase by over 10-12%. The trade balance continues to have a trade surplus of over 20 billion USD.
To realize the above goals, in 2025, the Ministry of Industry and Trade will continue to focus on implementing effective FTAs and signing and implementing new agreements to expand and diversify markets, import and export products, and supply chains. At the same time, it will strengthen the exploitation of potential markets, strongly shift to official exports associated with brand building, and promote sustainable exports.
CK
Source: VITIC/congthuong.vn