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Vietnam records 24.3 billion USD trade surplus in 11 months

Vietnam posted a trade surplus of 24.31 billion USD in the January-November period, according to the General Statistics Office.

The cumulative trade value for the first 11 months of the year rose by 15% annually to over 715 billion USD.

Up to 36 key export items each surpassed 1 billion USD in value, collectively accounting for 94.1% of the total, cited VNA.

A total of 44 import products surpassed the 1 billion USD threshold, making up 93% of the total, with five exceeding 10 billion USD, representing 51%.

The US remained Vietnam's largest export market with 109 billion USD, while China led as the top supplier at 130 billion USD.

Efforts to improve export quality, reduce costs, and leverage Free Trade Agreements were emphasised, along with the need for digital transformation and enhanced market linkages.

Northern Vietnam to face another cold spell with lows down of 8°C

The current cold mass in the northern region will gradually weaken on December 9 as temperatures are expected to reach 25 to 26 degrees Celsius over the next few days.

However, according to details provided by the National Center for Hydrological and Meteorological Forecasting, the northern region will experience the strongest cold air mass since the beginning of the season, starting on December 11.

Due to the cold spell, the lowest temperatures in Hanoi will generally range from eight degrees Celsius to 12 degrees Celsius from December 14 to December 16, while in mountainous areas, temperatures are set to drop to between 6 degrees Celsius and 7 degrees Celsius.

Experts revealed that this month, cold spells are expected to increase in both frequency and intensity, with severe cold snaps likely to emerge ahead in the second half of the month, according to VOV.

Northern region will face another cold spell with lows down of 8 degrees Celsius.

The cold weather hitting both northern and central regions is predicted to last until February.

Residents are advised to prepare for the harsher weather conditions and take all necessary precautions, especially in frost-prone mountainous areas.

Vietnam leaves impression at 2024 Cultural Festival in Sri Lanka

Vietnam made a striking impression at the 2024 Cultural Festival in Colombo on December 7, wowing both locals and foreign visitors with a vibrant display of Vietnamese handicrafts and the globally beloved Pho.

The event was hosted by the Sri Lankan Ministry of Foreign Affairs, Foreign Employment and Tourism, VNA reported.

A Vietnamese booth at 2024 Cultural Festival in Colombo (Photo: VNA)

A delegation from the Vietnamese Embassy joined a parade alongside other countries, donning traditional costumes and performing distinctive dances with conical hats and bamboo poles. They also graced a fashion show featuring Sri Lanka’s exquisite silk products.

Vietnamese products, particularly the aromatic Pho, drew crowds of eager Sri Lankans and international friends, creating a bustling and lively atmosphere. One of the standout moments was the performances by Sri Lankan children who surprised and delighted the audience with their love for Vietnamese culture and dances.

Vietnamese Ambassador Trinh Thi Tam affirmed that Vietnam is a close and traditional friend of Sri Lanka. Through engaging activities, Vietnam aims to join the international community in conveying a strong message about a peaceful and stable Sri Lanka, with friendly and hospitable people. This, in turn, will help Sri Lanka boost international tourism and foreign investments – key priorities of the Sri Lankan Government.

Vietnam-China trade turnover reaches nearly US$200 billion

Two-way trade turnover between Vietnam and China during the past months of the year reached US$185.4 billion, according to the latest report released by the General Statistics Office (GSO).

Breaking down the figure, the country's exports to China grossed US$55.2 billion, down 0.9%, while imports from the market reached US$130.2 billion, up 29.7%. Overall, the average two-way trade turnover between the two sides hit US$16.8 billion per month.

If the level of export growth momentum is maintained, then two-way trade turnover is likely to reach a record of US$200 billion this year, equivalent to nearly a quarter of the country's total import-export turnover.

At present, agricultural products represent the nation’s main export item to the Chinese market with farm produce exports of nearly US$10 billion during the 10-month period, representing an increase of 11.6% on-year.

To date, the country has had 14 agricultural products be officially exported to the Chinese market, including durian, bird's nest, sweet potato, dragon fruit, longan, rambutan, mango, jackfruit, watermelon, banana, black jelly, mangosteen, lychee, and passion fruit.

Mango is one of 14 agricultural exports to Chinese market.

Among them, several farm produce such as durian and dragon fruit have become popular to Chinese consumers, with the import volume of these items from the Vietnamese market accounting for one-fifth of the total agricultural products imported from the ASEAN region.

Most notably, during the state visit of Party General Secretary and President To Lam to China, the Ministry of Agriculture and Rural Development, and the General Administration of Customs of China signed three important protocols on August 19, thereby paving the way for the official export of frozen durian, fresh coconut, and crocodiles to the Chinese market.

Furthermore, the recent Vietnam - China International Trade and Tourism Fair in the northern province of Lang Son has served as a bridge for businesses of the two countries to enhance trade exchange, and the friendly cooperative relationship between Lang Son and Guangxi in particular, as well as Vietnam and China in general in the fields of trade, tourism, and people-to-people exchange.

Despite the robust growth of two-way trade, Vietnam posted a trade deficit of US$75 billion with China during the 11-month period, up 67.7%.

According to GSO, total import-export turnover between both sides reached US$171.9 billion last year.

Vietnam remains cheapest country for expats in 2024

For the fourth consecutive year, Vietnam is the cheapest nation for expats, according to a 2024 InterNations study.

The media outlet quoted an American expat as saying that Vietnamese people are very friendly and the cost of living locally is very low.

It said that four in five expats (86 percent) living in Vietnam are happy with the country's cost of living while 68 percent say that their disposable household income is more than enough to lead a comfortable life.

Generally, 65 percent of expats are satisfied with their financial situation in the country and this isn't just due to the relative low cost of living.

Just under one in five expats in the nation say they earn US$150,000, equal to EUR118,000, a year.

Photo: VGP

Rounding off the list of the top cheapest countries to be an expat in 2024 is Panama, the Philippines, India, Mexico, Thailand, Brazil, China, Malaysia, and Oman.

Meanwhile, Canada was named as the priciest countries for expats, followed by Finland, the UK, Ireland, Norway, Singapore, and New Zealand.

The ranking is based on an expat survey in which respondents were asked about satisfaction with their financial situation, as well as whether a disposable household income is enough to lead a comfortable life or not.

In November 2024, Vietnam welcomed an estimated 1.7 million international visitors, up 38.8 percent compared to the same period in 2023.

Vietnam is well-positioned to achieve further milestones and consolidate its reputation as a premier destination in the region and the world.

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