Vietnam: Merchandise exports grow at a faster pace in October
Merchandise exports increased 5.9% in annual terms in October (September: +2.1% year-on-year). The outturn marked the strongest growth since February 2023, and was supported by higher exports of electronics and machinery. Meanwhile, merchandise imports increased 5.2% on an annual basis in October (September: +0.3% yoy), marking the strongest result since October 2022.
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.0 billion surplus in October (September 2023: USD 2.2 billion surplus; October 2022: USD 2.7 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 26.9 billion surplus in October, compared to the USD 26.5 billion surplus in September.