Exports

Trading activities were among the highlights of the economy in 2020 with an all-time high trade surplus of US$19.1 billion and contributed to a positive economic growth of 2.91%.

Around 70.86 million medical face masks were shipped last December, a sharp decrease of 59% against the previous month.

Vietnam trade policy is on right track with record high of US$544-billion turnover in 2020, in which e-commerce is an inevitable trend for local firms to access markets and increase trade value in the coming time.

Vietnam exported US$13.17 billion worth of timber and forestry products in 2020, 5.4% above the year’s plan and up 16.4% year-on-year.

Government support is needed for the local leather and footwear sectors to realize the export target of $20 billion in 2021.

Vietnam’s strong growth momentum in manufacturing is expected to continue in 2021, supported by growing external demand from trade deals such as the EVFTA, UKVFTA, and RCEP.

Despite severe Covid-19 impacts, Vietnam – South Korea trade relations this year is on track to reach or even exceed the US$70 billion mark recorded in 2019.

Vietnam's trade turnover is likely to have increased by 5.1% year-on-year to reach US$543.9 billion in 2020.