The foreign direct investment (FDI) sector continued to bolster Vietnam's economy in January and February, with revenue of $43.2 billion, a 14.7% rise, and making up 72.8% of the country's total export value.

Robust growth was recorded in the export of computers, phones, machinery, equipment and garments-textiles, between 4.1% and 33.9%, according to Dau Tu Newspaper. 

In addition, electronic items, clothing and textiles, and footwear, among other goods, contributed to an increase in the importation of materials for production purposes, resulting in 18% year-on-year growth.

During the first two months of the year, Vietnam registered a trade surplus of $4.72 billion, with the foreign direct investment sector, including crude oil, posting a trade surplus of $8.25 billion, Vietnam Plus reports.

Furthermore, the US imported $17.4 billion worth of goods from Vietnam, representing a year-on-year rise of 33.7%. Vietnam recorded a trade surplus of $15.2 billion with the United States, a 36.3% increase from the same time last year.

The majority of frequently purchased items were provided by FDI businesses, encompassing computers, phones, electronics and their components, machinery, equipment, spare parts, clothing, textiles, and footwear.

According to the Trade Counsellor and head of the Vietnam Trade Office in the US Do Ngoc Hung, the US market would offer more than $100 billion in export revenue to Vietnam in 2025.

Moreover, Vietnam shipped $7.7 billion worth of goods to the European Union during the first two months of the year, a 14.2% year-on-year increase, which is forecast to continue thanks to the EU-Vietnam Free Trade Agreement (EVFTA).

Since the agreement came into effect in August 2020, two-way trade has witnessed double-digit growth, in contrast to a 5%-7% increase in Vietnam's exports to the EU and a 3%-5% rise in imports during the preceding period.