According to the latest preliminary statistics released by the General Department of Vietnam Customs, the trade turnover of goods exported and imported in Vietnam in the first half of November 2024 (from November 1st to November 15th, 2024) reached $33.44 billion, a decrease of 9.7% (equivalent to a decrease of $3.58 billion) compared to the results achieved in the second half of October 2024.
The results obtained in the first half of November 2024 brought the total trade turnover of the country up to November 15th, 2024, to $681.48 billion, an increase of 15.7%, or $92.28 billion in absolute terms, compared to the same period in 2023.
Of this, the total trade turnover of foreign-invested enterprises (FIEs) reached $461.33 billion, an increase of 14% (equivalent to an increase of $56.74 billion).
Specifically, in terms of exports, in the first half of November 2024, it reached $16.73 billion, a decrease of 13.7% (equivalent to a decrease of $2.66 billion in absolute terms) compared to the second half of October 2024.
Export turnover in the first half of November 2024 decreased compared to the second half of October 2024 in the following groups of goods: machinery, equipment, tools, and parts decreased by $577 million, or 20%; various types of phones and components decreased by $365 million, or 14.4%; computers, electronic products, and components decreased by $261 million, or 7.8%; and so on.
from January 1st to November 15th, 2024, and the same period in 2023.
Source: General Department of Vietnam Customs.
From the beginning of the year until November 15th, 2024, the total export turnover of Vietnam reached $352.38 billion, an increase of 14.8%, or $45.54 billion, compared to the same period in 2023.
Some groups of goods that saw increases include: computers, electronic products, and components, which increased by $12.79 billion, or 26.1%; machinery, equipment, tools, and parts, which increased by $8.08 billion, or 21.7%; textiles and garments, which increased by $3.07 billion, or 10.6%; wood and wooden products, which increased by $2.46 billion, or 21.4%; various types of phones and components, which increased by $2.25 billion, or 4.8%; and so on, compared to the same period in 2023.
Statistics from the General Department of Vietnam Customs also show that the export turnover of FIEs in the first half of November 2024 reached $12.04 billion, a decrease of 12.9%, or $1.79 billion, compared to the second half of October 2024.
As of November 15th, 2024, the total export turnover of the FIE group reached $252.17 billion, an increase of 13%, or $28.94 billion, compared to the same period last year, accounting for 72% of the country’s total export turnover.
On the import side, the value of goods imported into Vietnam in the first half of November 2024 reached $16.7 billion, a decrease of 5.3% (equivalent to a decrease of $928 million in absolute terms) compared to the results achieved in the second half of October 2024.
The value of imports in the first half of November 2024 decreased compared to the second half of October 2024, mainly in the following groups of goods: computers, electronic products, and components decreased by $341 million, or 6.8%; various types of iron and steel decreased by $217 million, or 29%; and so on.
From the beginning of the year until November 15th, 2024, the total import turnover of the country reached $329.1 billion, an increase of 16.6% (equivalent to an increase of $46.74 billion) compared to the same period in 2023.
Some groups of goods that saw significant increases include: computers, electronic products, and components, which increased by $17.21 billion, or 22.7%; machinery, equipment, tools, and parts, which increased by $6.17 billion, or 17.2%; various types of iron and steel, which increased by $2.01 billion, or 22.4%; other base metals, which increased by $1.64 billion, or 18%; various types of phones and components, which increased by $1.37 billion, or 18%; and so on, compared to the same period in 2023.
from January 1st to November 15th, 2024, and the same period in 2023.
Source: General Department of Vietnam Customs.
The import turnover of FIEs in this period reached $10.43 billion, a decrease of 5.8%, or $643 million, compared to the second half of October 2024. As of November 15th, 2024, the total import turnover of the FIE group reached $209.16 billion, an increase of 15.3%, or $27.79 billion, compared to the same period in 2023, accounting for 63.6% of the country’s total import turnover.
Thus, with the above results, in the first half of November 2024, the trade balance of goods surplus was $31 million. From the beginning of the year until November 15th, 2024, the trade balance of goods surplus was $23.28 billion.
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