Vietnam's Economic Surge: Record Trade with U.S. and China

Vietnam's trade surplus with the U.S. rose nearly 30% in January as exports surged despite high tariffs. Imports from China hit a record high. While foreign investment increased, future pledges declined. The data reflects Vietnam's strong economic performance despite global trade challenges.

Vietnam has experienced a robust economic surge, with January's trade surplus with the United States growing nearly 30% year-on-year. This growth comes as Vietnamese exports continue to climb, reaching $13.9 billion, despite the imposition of high tariffs by the previous U.S. administration.

Imports from China have also reached a new high, hitting $19 billion, as Vietnam's total exports for the month rose by 29.7% to $43.19 billion. The country's industrial production saw a significant increase of 21.5%, reflecting an overall positive trade environment.

Despite the positive export trend, Vietnam faced a trade deficit of $1.78 billion due to a sharp increase in imports, which rose 49.2% year-on-year. Furthermore, while foreign investment inflows rose to $1.68 billion, future investment pledges fell by 40.6% compared to last year.

(With inputs from agencies.)