2. Growth of various industries in Vietnam in 2024

Industry and construction are the main engines driving Vietnam's economic growth.

The rapid growth of the service industry reflects Vietnam's vigorous development in consumption upgrades, tourism, finance, logistics and other fields.

 3. Vietnam's total import and export volume in 2024 will be US$786.29 billion

In 2024, industrial processed products will dominate Vietnam's exports and will be the core force of Vietnam's export earnings. At the same time, there is a strong demand for imports of capital goods such as machinery and equipment and raw materials, reflecting that Vietnam is in a stage of rapid development of its manufacturing industry.

 4. In 2024, China and the United States will remain Vietnam's main trading partners

China-Vietnam trade: China continues to be Vietnam's largest source of imports. Vietnam imports goods from China including machinery and equipment, electronic parts, fabrics, etc., which shows that Vietnam is highly dependent on China in terms of manufacturing raw materials.

US-Vietnam trade: The United States continues to be Vietnam's largest export market, especially labor-intensive products such as electronic products, clothing and footwear, which also means that Vietnam is highly dependent on the US market.

5. In 2024, Vietnam's total foreign direct investment (FDI) will be close to US$38.2 billion

Despite the uncertainty of the global economic environment, Vietnam remains attractive to foreign investment.

 6. The top four countries and regions for new project investment in Vietnam in 2024

Singapore still ranks first among the countries that provide new project investment in Vietnam.

South Korea continues to increase its investment in Vietnam, especially in high-tech industries such as electronics and auto parts.

The main investment areas of Chinese companies in Vietnam are mainly concentrated in technology processing and manufacturing, and they are also involved in many emerging fields.

 7. In 2024, foreign investment will still be concentrated in North Vietnam and South Vietnam

In 2024, foreign investment will still be concentrated in North Vietnam (5) and South Vietnam (4), with only Nghe An Province in Central Vietnam.

These provinces and cities have good infrastructure and relatively convenient transportation conditions and their own leading and characteristic industries, and have formed certain industrial clusters in the long-term development process.

For more details, please consult PDAEXSEA professional consultants.