Vietnam recorded total trade revenue of $683 billion during 2023, down 6.6 per cent year-on-year, the General Statistics Office (GSO) announced on December 29.

Exports were estimated at $355.5 billion, a year-on-year decline of 4.4 per cent.

Export revenue reached $96.5 billion in the fourth quarter, up 3.2 per cent compared to the third quarter and 8.8 per cent year-on-year.

Thirty-five products posted export revenue in excess of $1 billion in 2023, accounting for 93.6 per cent of the country’s total. Seven posted turnover of over $10 billion, or 66 per cent of the total.

Meanwhile, the country spent $327.5 billion on imports, down 8.9 per cent compared to 2022.

This resulted in the country posting a trade surplus of $28 billion in 2023, much higher than the $11.2 billion recorded last year.

The US remained Vietnam’s largest export market, with total turnover of $96.8 billion, while China was its largest import source, with $111.6 billion.