Vietnam's trade with European and American markets rebounded strongly in 2024, showing significant growth compared to 2023.

The total import-export turnover between Vietnam and these markets in 2024 is estimated at approximately $250 billion, an increase of 18.5% compared to 2023, with Vietnam's export value standing at $202.1 billion, up 20.3% year-on-year; and imports at $47.9 billion, up 12.6%.

The trade surplus was estimated at $154.2 billion in favor of Vietnam.

This is the first time that Vietnam's trade surplus with these markets exceeded $150 billion. 

Specifically, Vietnam's exports to the US market in 2024 were estimated at $119.3 billion, an increase of 23% compared to 2023;  to the EU market at $51.9 billion, up 18.8%; to the CPTPP countries in the Americas (Canada, Mexico, Chile, Peru) at $13.7 billion, up 17%; to the UK at $7.6 billion, up 19.6%; and to the EAEU countries at $3.3 billion, up 31.5%.

Only exports to Mercosur countries saw a decrease of 6.5%, estimated at $3.4 billion.

Vietnam's key export commodities to the European-American markets in 2024 all witnessed impressive recovery and growth compared to 2023, including computers, electronic products and components; machinery, equipment, tools, and spare parts; textiles and garments; telephones and components; footwear; wood and wood products; means of transportation and parts; and seafood.