HANOI: Vietnam's exports in the first quarter rose 16.8 per cent from a year earlier to US$92.88 billion, led by shipments of electronics, with a trade surplus of US$7.8 billion for the quarter, government data showed on Tuesday.
Imports in the January-March period rose 14.0 per cent to US$85.08 billion, the Customs Department said in a report.
The Southeast Asian economy, a regional manufacturing hub that heavily relies on trade, has been impacted by weak global demand, having seen a 4.4 per cent contraction in its shipments last year.
The government is targeting gross domestic product growth of six per cent to 6.5 per cent this year, up from 5.05 per cent recorded in 2023.
In March, exports rose 36.4 per centfrom February to US$33.66 billion, while imports were up 32.5 per cent to US$30.88 billion, the department said.
Shipments of electronics, its largest export earner, rose 35.7 per cent from a year earlier to US$16.33 billion in the first quarter, according to the report.
Vietnam is a major manufacturing centre for firms like Samsung, Intel and Canon, as well as big clothing brands such as Nike and Adidas .
Smartphone exports rose 5.9 per cent to US$14.21 billion, while shipments of garments increased 8.8 per cent to US$7.82 billion, the report said.
The United States remained Vietnam's largest market, accounting for nearly 28 per cent of Vietnam's overall exports in the January-March period, according to the report.
(Reporting by Khanh Vu; Editing by Martin Petty)