Vietnam's Exports Soar to $30.94B in April

Vietnam's exports in April are estimated to have increased by 10.6 percent compared to the same period last year, reaching $30.94 billion. This growth was primarily driven by the export of electronics. Concurrently, industrial output in April saw a year-on-year increase of 6.3 percent, according to government data released on Monday. As a Southeast Asian manufacturing hub, Vietnam heavily relies on exports to fuel its economic development.

Import figures for April show a significant rise of 19.9 percent, reaching $30.26 billion, resulting in a trade surplus of $680 million for the month, as reported by the General Statistics Office (GSO). Over the January-April period, exports increased by 15.0 percent year-on-year to $123.64 billion, while imports rose by 15.4 percent to $115.24 billion, leading to a trade surplus of $8.4 billion for the four months.

The General Statistics Office (GSO) also reported a 4.4 percent year-on-year increase in consumer prices for April, with retail sales experiencing a 9.0 percent annual growth. Notably, electronic shipments surged by 32.6 percent in April compared to the previous year, totaling $5.3 billion. Smartphone exports also saw a rise of 9.1 percent to $4.2 billion during the same period.

Vietnam aims to achieve a gross domestic product (GDP) growth rate of 6.0 to 6.5 percent this year, surpassing its 2023 expansion of 5.05 percent.