Asia - Africa continues to be a strategic market in import and export activities.

On the morning of December 27, the Asia - Africa Market Department, Ministry of Industry and Trade held a conference to review the work in 2024 and deploy tasks for 2025.

On the morning of December 27, at the headquarters of the Ministry of Industry and Trade, the Asia - Africa Market Department, the Ministry of Industry and Trade held a conference to review the work in 2024 and deploy tasks for 2025. Deputy Minister of Industry and Trade Phan Thi Thang attended and directed the conference.

The Asia - Africa Market Department, Ministry of Industry and Trade held a conference to review work in 2024 and deploy tasks for 2025.

The report of the Asia-Africa Market Department said that in 2024, the world economy as well as the domestic economy regained growth momentum as in the period before the Covid-19 pandemic, but unevenly among economic groups. Global inflation continued to decrease to the set target level. Financial conditions are still limited but are being loosened and global trade in goods also recovered strongly compared to 2023.

Also according to the leader of the Asia - Africa Market Department, the Asia - Africa market region continues to hold a strategic position with a total two-way import-export turnover estimated at 519.7 billion USD, an increase of 13.7% compared to 2023, accounting for 66.3% of Vietnam's total import-export turnover with the world .

Export turnover to all market areas increased. Exports to Vietnam's key markets in the region also recovered strongly.

Regarding export products, the structure of Vietnam's goods exports is being positively improved, with a reduction in the export of raw materials and an increase in the export of processed products and industrial products. The agricultural and aquatic products group grew impressively by 30.4%. Notably, Vietnamese fruits and vegetables are increasingly asserting their position in demanding markets such as China, Korea and Japan.

According to the leader of the Asia - Africa Market Department, the Asia - Africa market region continues to hold a strategic position in Vietnam's goods export activities.

Import turnover of goods increased sharply in most input items for production and export, contributing to promoting the recovery of domestic production. Vietnam continued to have a trade deficit of 123.9 billion USD from Asia and Africa in 2024, focusing on production materials such as machinery, petroleum, raw materials (raw cashew nuts) ... to meet production needs for domestic consumption and export.

In 2024, the total import-export turnover between Vietnam and the Asian and African market region will reach 519 billion USD, an increase of 13.7% compared to 2023.

Of which, import and export with the Asian region is estimated to reach nearly 497.3 billion USD in 2024 , of which export will reach 187.1 billion USD and import will reach 310.3 billion USD.

For the African region: Total import-export turnover reached 6.9 billion USD, an increase of 19.4% compared to 2023, of which exports reached 3.1 billion USD and imports reached 3.8 billion USD.

For the Oceania region: It is estimated that in 2024 , the total import-export turnover will reach 15.4 billion USD, an increase of 2.2% over the same period in 2023, of which exports will reach 7.2 billion USD and imports will reach 8.2 billion USD.

Industry and Trade Newspaper will continue to inform about the conference...

Source: https://congthuong.vn/chau-a-chau-phi-tiep-tuc-la-thi-truong-chien-luoc-trong-hoat-dong-xuat-nhap-khau-366474.html