Vietnam’s foreign trade is set to exceed US$700 billion this year, the highest ever, the customs department said.
It has risen steadily from $500 billion in 2020 and $600 billion last year.
In the first 11 months exports rose bviy 13.4% from a year earlier to $342.2 billion, and imports were up 10% to $331.6 billion, resulting in a surplus of $10.6 billion.
Exports to the U.S. alone, the largest export market, were worth $101.5 billion. Imports from China, the
country’s biggest source, topped $109.9 billion.
According to the General Department of Vietnam Customs, the country’s global import-export ranking
will go up this year.
In 2021 the World Trade Organization had ranked Vietnam 23rd in terms of exports and 20th in imports.
In the 10-member ASEAN, Vietnam ranked second behind only Singapore.