Vietnam reported a trade surplus of US$2 billion in Oct2024, narrowing from the previous month as imports grew at a faster rate than exports, government data showed on Wednesday.
Vietnam relies heavily on exports for its economic growth. According to the General Statistics Office, in the January-October 2024 period, exports rose 14.9 percent from a year earlier to $335.586 billion, while imports were up 16.8 percent to $312.28 billion, the GSO said.
Last month, Prime Minister Pham Minh Chinh said the government wanted to drive economic growth above an expected rate of 6.8-7.0 percent this year.
In the third quarter, annual growth hit a two-year high of 7.4 percent. The consumer price index rose 2.89 percent in October from a year earlier, below the government’s cap for 2024.
By Vietnammanual Team