Vietnam's exports to these markets witnessed strong growth in 2024, estimated at approximately $250 billion.
The combined export value of computers, phones, and electronic components accounted for nearly 40% of Vietnam's total export turnover in 2024, by December 15.
With sustainable foundations and appropriate development strategies in place, Vietnam continues to secure its position as one of the most outstanding bright spots in Southeast Asia and the world.
Thanks to sustainable foundation and appropriate growth strategies, Viet Nam remains a bright spot in the Southeast Asian region and global economy in the eyes of international banks and financial institutions.
Vietnam’s exports to Singapore continued the growth trajectory in November, rising by 31.32%, sustaining the year-on-year expansion of 32.11% for the first 11 months, positioning Vietnam as the partner with the fastest export growth there, reported the Vietnam Trade Office in the city state.
Next year Việt Nam needs to confidently enter a new era, and the industry and trade sector must be pioneers to realise those goals, said Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn.
Experts believe that Vietnamese enterprises need to develop green products for export to the UK, contributing to increasing exports to this market.
Việt Nam’s exporters faced a significant increase in the number of trade defence investigation cases this year, on the back of rising protectionism worldwide, according to the Ministry of Industry and Trade.
Vietnamese export businesses need to prepare for the United Kingdom (UK)’s carbon border adjustment mechanism (CBAM), which will take effect from 2027.
Việt Nam now ranks third among countries, with the largest trade surplus with the US, after only China and Mexico. Strong export growth to the US is recorded through items such as wooden furniture, machinery, optical equipment, medical measurement, office machines, printers, hand tools and hydraulic pneumatics, footwear, rubber and rubber products besides plastics and plastic products, iron and steel.
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