Vietnam’s 2024 import-export revenue reaches all-time high

Vietnam’s total import and export value in 2024 is estimated at 786.07 billion USD, a 15.4% increase compared to 2023, with a trade surplus of 23.75 billion USD, marking the highest level ever, according to General Director of Customs Nguyen Van Tho.
Vietnam’s total import and export value in 2024 is estimated at 786.07 billion USD, up 15.4% compared to 2023. (Illustrative image)
Vietnam’s total import and export value in 2024 is estimated at 786.07 billion USD, up 15.4% compared to 2023. (Illustrative image)

The Customs Department has implemented various measures to streamline trade, such as expanding the National and ASEAN Single Window Mechanisms. As of December 26, 2024, the National Single Window has connected 250 administrative procedures across 13 ministries, benefiting over 76,200 businesses.

Efforts were made to enhance customs procedures, modernise technology, and simplify regulations, contributing to projected state revenue of 426 trillion VND (16.74 billion USD) in 2024, equivalent to 113.3% of the target and a 15% increase from 2023. Additionally, customs authorities prioritised quick clearance for perishable goods and agricultural exports, bolstering Vietnam’s key industries.

Anti-smuggling and anti-drug trafficking operations were intensified, safeguarding national security and public safety. Vietnam Customs also strengthened international cooperation, hosting the 33rd ASEAN Customs Directors-General Meeting and signing agreements with major trading partners, including the Republic of Korea, China, and the US, on mutual recognition of priority enterprises and data exchange.

Looking ahead, Vietnam Customs aims to modernise its operations further in 2025, with a focus on digital transformation, anti-smuggling efforts, and efficient revenue collection. Plans are underway to support the Long Thanh International Airport customs office ahead of its opening in 2026 to ensure smooth operations and enhanced trade facilitation.

NDO