Vietnam has become the first Southeast Asian nation to earn over 1 billion USD from exporting goods to Hungary and the European country’s leading exporter from this region since 2000, according to the Ministry of Industry and Trade.

Although much of the economy was impacted by the fourth wave of COVID-19 in 2021, Viet Nam’s imports and exports reached a record of nearly US$670 billion, an increase of almost 23 per cent from 2020.

Despite a negative impact caused by the COVID-19 pandemic, the country's exports have scored a success this year with 11-month export revenues reaching approximately US$300 billion.

Despite COVID-19 impacts, Vietnam has seen an impressive reversal in import-export activities in the last months of the year, securing trade surplus for the sixth consecutive year.

The Ministry of Industry and Trade (MoIT) has forecast that total import-export revenue this year may reach a new record, at between 640 - 645 billion USD, with a slight trade deficit.

Though exports remain strong, several sectors face difficulties due to the COVID-19 pandemic and require support from the Government if they are to sustain the growth, experts said.