Top 7 Import Markets Exceeding $1 Billion USD in the First Month of 2024

  
                            

According to the General Department of Customs, in January 2024, Vietnam’s import value reached $30.9 billion, an increase of $7.9 billion compared to the same period last year due to more working days. In particular, Vietnam’s imports increased the most in the group of computers, electronic products, and components, reaching $8.56 billion, an increase of $2 billion.

In addition, the amount of imports in the fuel group (coal, crude oil, various types of gasoline and diesel, and liquefied petroleum gas) reached 7.51 million tons, valued at $2.28 billion, an increase of 90% in volume and 11.7% in value.

In terms of markets, among the seven markets and groups of markets with import turnover over $1 billion in January 2024, China continues to be the largest market.

Specifically, goods imported from China reached $11.88 billion, a strong increase of 65% compared to the same period last year.

Imports from this market increased mainly in groups of goods such as Machinery, equipment, spare parts; computers, electronic products and components; iron and steel and products (these three groups of goods increased by $2.81 billion).

Notably, the Chinese market alone accounted for 60% of the total increase in the country’s imports in January 2024.

The remaining billion-dollar import markets in Vietnam are: South Korea reached $4.19 billion, an increase of 7.3%; ASEAN reached $3.62 billion, an increase of 20.2%; Japan reached $1.95 billion, an increase of 16.4%; Taiwan (China) reached $1.94 billion, an increase of 32%; EU reached $1.31 billion, an increase of 28.3%; the United States reached $1.24 billion, an increase of 33% compared to the same period last year.