According to preliminary statistics released by the General Department of Customs on February 20, 2024, during the Lunar New Year of the Year of the Serpent 2024 (from February 8-14, 2024), there were over 1,000 Vietnamese enterprises participating in import and export activities across the country. During this period, a total of nearly 10,000 import and export declarations were registered at 116 Customs Departments and equivalent to 32 Provincial Customs Departments, respectively.
During the period from February 8-14, 2024, the total value of import and export goods of the whole country reached 1.41 billion USD, of which the total export value of goods reached 0.73 billion USD, and the total import value of goods reached 0.68 billion USD. Therefore, during this Lunar New Year, Vietnamese enterprises exported more goods than imported goods.
Preliminary cumulative statistics from January 1 to February 14, 2024, the total value of import and export goods of the whole country reached 82.56 billion USD, an increase of 17.1% compared to the same period in 2023; of which the export value of goods reached nearly 43.83 billion USD, an increase of 21.6% compared to the same period in 2023, and the import value of goods reached 38.73 billion USD, an increase of 12.4%.
Therefore, from the beginning of 2024 to February 14, 2024, Vietnam’s trade balance had a surplus of 5.1 billion USD.
during the Lunar New Year holiday.
During the Lunar New Year of the Year of the Serpent 2024, the main export items of Vietnam included phones of all kinds and components, with the highest value of 282.8 million USD, accounting for 38.7% of the total export value during the holiday season. The second largest export item was computers, electronic products, and components with a value of 263.6 million USD, accounting for 36.1%; the third was machinery and equipment with a value of 54.4 million USD, accounting for 7.5%… Therefore, the total value of exports of these 3 largest groups accounted for 82.3% of the total export value.
In contrast, the main imported goods included computers, electronic products, and components as the largest imported item with a value of 428.7 million USD, accounting for 63% of the total import value; followed by machinery, equipment, tools, and spare parts with a value of 41.3 million USD, accounting for 6%; and petroleum products of all kinds with a value of 41.3 million USD, accounting for 6%… Therefore, these 3 largest groups of goods accounted for 75% of the total import value.
During the Lunar New Year holiday this year, goods from Vietnam were exported to a total of 77 countries and territories. Among them, the United States was the largest market for Vietnamese goods with a value of 220.7 million USD, accounting for more than 30% of the total export value during the holiday season; followed by markets such as China with 186.9 million USD (accounting for 25.6%), South Korea with 71.2 million USD (accounting for nearly 10%),…
In the same holiday period, Vietnamese enterprises imported goods from 59 countries and territories, of which the largest imported goods originated from South Korea with a value of nearly 239 million USD, accounting for 35.2% of the total import value during the holiday season; followed by goods from China with 196.7 million USD (accounting for 29%), and Cambodia with 41.3 million USD (accounting for 6%).
With these results, it can be seen that import and export activities have flourished from the beginning of the year, and the target of increasing exports by 6% compared to 2023 is feasible.
In order to achieve this target, the Ministry of Industry and Trade stated that it will continue to promote commercialization, support enterprises in diversifying markets, and seek potential new markets for Vietnam’s export goods. At the same time, it will focus on completing procedures to soon sign the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE); focus on ensuring the progress and negotiations to upgrade the ASEAN Trade in Goods Agreement (ATIGA), negotiate the ASEAN-Canada Free Trade Agreement (ACAFTA), and the Free Trade Agreement between Vietnam and the EFTA bloc (including Switzerland, Norway, Iceland, Liechtenstein) based on the principles of ensuring the highest national and ethnic interests according to the plan approved by the Prime Minister.
