According to the latest preliminary statistics from the General Department of Vietnam Customs, the total import and export turnover of goods in Vietnam in the first half of August 2024 (from August 1 to August 15, 2024) reached USD 32.93 billion, a decrease of 11.4% (equivalent to a decrease of USD 4.24 billion) compared to the result in the second half of July 2024.
The results achieved in the first half of August 2024 brought the country’s total import and export turnover to USD 473.33 billion as of August 15, 2024, an increase of 16.9%, equivalent to an increase of USD 68.58 billion in absolute terms compared to the same period last year.
Of this, the total import and export turnover of foreign-invested enterprises (FIEs) reached USD 321.04 billion, up 15.4% (equivalent to an increase of USD 42.73 billion).
In particular, exports in the first half of August 2024 reached USD 16.93 billion, down 14.9% (equivalent to a decrease of USD 2.96 billion in absolute terms) compared to the second half of July 2024.
Export turnover in the first half of August 2024 decreased compared to the second half of July 2024 in the following groups of goods: telephones and parts thereof decreased by USD 791 million, equivalent to a decrease of 26.3%; machinery, equipment, tools, and parts thereof decreased by USD 562 million, equivalent to a decrease of 21.4%; textiles and garments decreased by USD 211 million, equivalent to a decrease of 10.3%…
Thus, as of August 15, 2024, the total export turnover of Vietnam reached USD 244.41 billion, an increase of 16% or USD 33.7 billion compared to the same period last year.
Among these, some groups of goods increased, such as: computers, electronic products, and components increased by USD 9.55 billion, or 28.9%; machinery, equipment, tools, and parts thereof increased by USD 5.27 billion, or 21.3%; telephones and parts thereof increased by USD 3.48 billion, or 11.1%; wood and wooden products increased by USD 1.79 billion, or 23.2%… compared to the same period last year.
Statistics from the General Department of Vietnam Customs also show that the export turnover of FIEs in the first half of August 2024 reached USD 12.14 billion, a decrease of 15.5% or USD 2.23 billion compared to the second half of July 2024. As of August 15, 2024, the total export turnover of this group of enterprises reached USD 175.36 billion, an increase of 14.2%, equivalent to an increase of USD 21.79 billion compared to the same period last year, accounting for 72% of the country’s total export turnover.
On the import side, Vietnam’s import turnover in the first half of August 2024 reached USD 16 billion, a decrease of 7.4% (equivalent to a decrease of USD 1.29 billion in absolute terms) compared to the result in the second half of July 2024.
Import turnover in the first half of August 2024 decreased compared to the second half of July 2024 mainly in the following groups of goods: computers, electronic products, and components decreased by USD 307 million, or 6.1%; machinery, equipment, tools, and parts thereof decreased by USD 142 million, or 6%.
Thus, as of August 15, 2024, the country’s total import turnover reached USD 228.92 billion, an increase of 18% (equivalent to an increase of USD 34.88 billion) compared to the same period last year.
Some groups of goods with strong increases include: computers, electronic products, and components increased by USD 14.11 billion, or 28.2%; machinery, equipment, tools, and parts thereof increased by USD 4.11 billion, or 16.5%; iron and steel of all kinds increased by USD 1.36 billion, or 22.5% compared to the same period last year.
According to the General Department of Vietnam Customs’ data, FIEs’ import turnover in the first half of August 2024 reached USD 10.33 billion, a decrease of 6.7% (equivalent to a decrease of USD 745 million) compared to the second half of July 2024. As of August 15, 2024, the total import turnover of FIEs reached USD 145.68 billion, an increase of 16.8% (equivalent to an increase of USD 20.94 billion) compared to the same period last year, accounting for 63.6% of the country’s total import turnover.
With the above results, in the first half of August 2024, the trade balance of goods surplus was USD 933 million. For the period from the beginning of the year to August 15, 2024, the trade balance of goods surplus was USD 15.49 billion.
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