According to preliminary statistics from the General Department of Vietnam Customs, the total import and export turnover of goods in Vietnam in the second period of August 2024 (from August 16 to August 31, 2024) reached USD 38.02 billion, an increase of 15.5% (equivalent to an increase of USD 5.09 billion) compared to the result of the first period of August 2024 (from August 01 to August 15, 2024).
The results achieved in the second half of August 2024 brought the total import and export turnover of the country in the first eight months of 2024 to USD 512.31 billion, up 17%, corresponding to an increase of USD 74.28 billion compared to the same period last year.
In particular, the total import and export turnover of foreign-invested enterprises (FDI) in the first eight months of 2024 reached USD 347.04 billion, up 15.3% (equivalent to an increase of USD 46.16 billion) over the same period last year; the total import and export turnover of domestic enterprises was USD 165.26 billion, up 20.5% (equivalent to an increase of USD 28.12 billion) over the same period last year.
Specifically, in terms of exports, the total export turnover of goods of Vietnam in the second period of August 2024 reached USD 20.73 billion, an increase of 22.5% (equivalent to an increase of USD 3.8 billion in absolute terms) compared to the previous period.
Export turnover in the second period of August 2024 increased compared to the first period of August 2024 in the following groups of goods: computers, electronic products, and components increased by USD 733 million (up 24.4%); machinery, equipment, tools, and other spare parts increased by USD 617 million (up 29.9%); textiles and garments increased by USD 349 million (up 18.9%); telephones and components increased by USD 261 million (up 11.8%); iron and steel of all kinds increased by USD 232 million (up 64.8%); etc.
Thus, in the first eight months of 2024, the total export turnover of Vietnam reached USD 265.44 billion, up 15.9%, equivalent to an increase of USD 36.48 billion compared to the same period last year.
Statistics from the General Department of Vietnam Customs also showed that the export turnover of goods of foreign-invested enterprises (FDI) in the second period of August 2024 reached USD 14.6 billion, an increase of 20.3% (equivalent to an increase of USD 2.46 billion) compared to the previous period, thereby bringing the total export turnover of this group in the first eight months of 2024 to USD 190.08 billion, up 14.1% (equivalent to an increase of 23.45 billion USD) over the same period last year, accounting for 71.6% of the country’s total export turnover.
In the opposite direction, the total import turnover of goods of Vietnam in the second period of August 2024 reached USD 17.29 billion, an increase of 8.1% (equivalent to an increase of USD 1.29 billion in absolute terms) compared to the previous period.
The import turnover of goods in the second period of August 2024 increased compared to the previous period mainly in the following groups of goods: corn increased by USD 183 million (up 362.8%); computers, electronic products, and components increased by USD 145 million (up 3.1%); animal feed and raw materials increased by USD 132 million (up 82.8%); coal of all kinds increased by USD 111 million (up 39.5%)…
In addition, the import value of some groups of goods in the second period of August 2024 decreased compared to the previous period, such as crude oil down USD 171 million (down 40%); gasoline down USD 91 million (down 29.7%); soybeans down USD 30.5 million (down 63.8%); iron and steel scrap down USD 30.1 million (down 31%)…
Thus, in the first eight months of 2024, the total import turnover of the whole country reached USD 246.87 billion, up 18.1%, equivalent to an increase of USD 37.8 billion compared to the same period last year.
The import turnover of goods of FDI enterprises in the second period of August 2024 was USD 10.95 billion, up 6% (equivalent to an increase of USD 616 million) compared to the previous period. In the first eight months of 2024, the total import turnover of this group of enterprises reached USD 156.97 billion, up 16.9% (equivalent to an increase of USD 22.72 billion) over the same period last year, accounting for 63.6% of the country’s total import turnover.
With the above results, in the second period of August 2024, the trade balance of goods surplus was USD 3.45 billion. In the first eight months of 2024, the trade balance of goods surplus was USD 18.57 billion, down 6.7% compared to the surplus of USD 19.9 billion in the same period last year.
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