(VOVWORLD) -Industrial index increased in most localities across Vietnam in 2023, while exports recovered and contributed to the balance of payments, helping to raise foreign exchange reserves and stabilize exchange rates and macroeconomic indicators, a Ministry of Industry and Trade report said.
 Year-end meeting of the Ministry of Industry and Trade, Hanoi, December 20, 2023. Photo: VNA |
At the year-end meeting held in Hanoi on Wednesday, Deputy Minister of Industry and Trade Phan Thi Thang said exports had an encouraging recovery. Vietnam's total import-export turnover this year is estimated at 683 billion USD, of which exports are estimated at 354.5 billion USD, imports at 328.5 billion USD. A trade surplus was recorded for the 8th consecutive year with an estimated surplus of nearly 30 billion USD, nearly 3 times higher than last year.
The industry's added value is estimated to surge 2.98% for the whole year, of which the processing and manufacturing industry is estimated to increase by 3.48%. Deputy Minister Phan Thi Thang emphasized domestic consumption and e-commerce as two impressive growth results this year.
“Total retail sales of goods and services went up 9.6%, exceeding the set plan of 8-9%, serving as a pillar for economic growth. E-commerce grew impressively at 25% over the same period, estimated at 20.5 billion USD, thanks to which Vietnam has one of the world's leading e-commerce growth rates,” Thang said.
Minister of Industry and Trade Nguyen Hong Dien said that the sector will focus on implementing five key tasks for next year, including finalizing national sector plans and promoting economic integration to catch the wave of shifting investment to third countries by multinational groups.