According to the latest preliminary statistics released by the General Department of Vietnam Customs, the total trade value of goods imported and exported by Vietnam in the second period of July 2024 (from July 16 to July 31, 2024) reached USD 37.17 billion, an increase of 13.7% (equivalent to an increase of USD 4.48 billion) compared to the first period of July 2024 (from July 1 to July 15, 2024).
The results achieved in the second half of July 2024 brought the total trade value of the country in the first seven months of 2024 to USD 440.45 billion, a rise of 17.2%, equivalent to an increase of USD 64.66 billion compared to the same period in 2023.
During this seven-month period, the total trade value of foreign-invested enterprises reached USD 298.6 billion, a 15.6% increase (equivalent to an increase of USD 40.19 billion) compared to the previous year. On the other hand, the total trade value of domestic enterprises was USD 141.85 billion, a 20.8% rise (equivalent to an increase of USD 24.47 billion) compared to the same period last year.
In terms of exports, the second period of July 2024 witnessed a total value of USD 19.89 billion, a 22.3% surge (equivalent to an increase of USD 3.62 billion) compared to the previous period.
Export values during this period showed an upward trend compared to the first period of July 2024 for the following commodity groups: computers, electronic products, and components increased by USD 608 million (a 23% rise); telephones and components increased by USD 570 million (a 23.3% rise); machinery, equipment, tools, and other parts increased by USD 463 million (a 21.4% rise); textiles and garments increased by USD 396 million (a 23.9% hike); footwear of all kinds increased by USD 182 million (an 18.8% jump); and iron and steel of all kinds increased by USD 141 million (a 44.5% leap), among others.
Thus, in the first seven months of 2024, the total export value of Vietnam reached USD 227.49 billion, a 16% increase compared to the same period last year.
Statistics from the General Department of Vietnam Customs also showed that the export value of goods by foreign-invested enterprises (FDI) in the second period of July 2024 reached USD 14.37 billion, a 21.8% rise (equivalent to an increase of USD 2.57 billion) compared to the previous period. This pushed the total export value of this group of enterprises in the first seven months of 2024 to USD 163.21 billion, a 14.2% increase (equivalent to an increase of USD 20.24 billion) compared to the same period last year, accounting for 71.7% of the country’s total export value.
On the import side, the total value of goods imported by Vietnam in the second period of July 2024 reached USD 17.28 billion, a 5.2% increase (equivalent to an increase of USD 852 million) compared to the previous period.
The value of imports during this period increased compared to the previous period, mainly in the following groups: machinery, equipment, tools, and spare parts increased by USD 317 million (a 15.5% rise); crude oil increased by USD 96.8 million (a 28.3% jump); computers, electronic products, and components increased by USD 68 million (a 1.4% rise); coal of all kinds increased by USD 64.8 million (a 16.8% hike); auto parts and accessories increased by USD 29 million (a 14.1% rise); and animal and vegetable oils increased by USD 28.7 million (a 68.4% surge), among others.
Additionally, the value of some imported commodity groups in the second period of July 2024 decreased compared to the previous period, such as corn, which decreased by USD 57.8 million (a 40.2% drop); other ores and minerals, which decreased by USD 37.9 million (a 23.9% fall); and wheat, which decreased by USD 25.7 million (a 43.8% decline), among others.
Thus, in the first seven months of 2024, the total import value of the country reached USD 212.97 billion, an 18.5% increase, equivalent to a rise of USD 33.32 billion compared to the same period last year.
According to the General Department of Vietnam Customs, foreign-invested enterprises continued to play an important role, with an import value of goods in this period of USD 11.07 billion, a 2.5% increase (equivalent to an increase of USD 266 million) compared to the previous period.
In the first seven months of 2024, the total import value of this group of enterprises reached USD 135.38 billion, a 17.3% increase (equivalent to an increase of USD 19.95 billion) compared to the same period last year, accounting for 63.6% of the country’s total import value.
With these results, in the second period of July 2024, the trade balance of goods recorded a surplus of USD 2.6 billion. For the first seven months of 2024, the trade balance of goods showed a surplus of USD 14.52 billion, a decrease of USD 1.98 billion compared to the surplus of USD 16.5 billion in the same period last year.
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