The newly released data from the General Department of Customs shows that the total value of the country’s import and export goods reached 65.43 billion USD, an increase of 7.5% compared to December 2023. Of which, the export value reached 34.53 billion USD, an increase of 9.7% (equivalent to an increase of 3.07 billion USD); the import value reached 30.9 billion USD, an increase of 5.1% (equivalent to an increase of 1.49 billion USD). The trade balance of goods in January 2024 had a surplus of 3.63 billion USD.
Compared to January 2023, the total value of the country’s import and export goods in January 2024 increased by 40.3%; of which, exports increased by 46%, equivalent to an increase of 10.89 billion USD, and imports increased by 34.4%, equivalent to an increase of 7.91 billion USD.
The General Department of Customs recorded the total import and export value of foreign direct investment (FDI) enterprises in the month at 44.52 billion USD, an increase of 9.4% compared to the previous month and an increase of 32.9% compared to the same period last year. Of which, exports reached 24.87 billion USD, an increase of 11.7% compared to the previous month and an increase of 38.6% compared to the same period last year; imports reached 19.65 billion USD, an increase of 6.6% compared to the previous month and an increase of 26.4% compared to the same period last year. With this result, the trade balance of goods of FDI enterprises in January 2023 had a surplus of 5.22 billion USD.
Regarding the export and import market, the General Department of Customs also announced that in the first month of 2024, there were 6 markets and groups of markets with the export value reaching over 1 billion USD, of which the export value to the US market reached over 10 billion USD. It is noteworthy that the value of Vietnam’s exports to all markets/regions with export value exceeding 1 billion USD increased compared to the same period last year.
Specifically, exports to the US reached 10.05 billion USD, an increase of 64% (equivalent to an increase of 3.91 billion USD); the EU (27 countries) reached 4.6 billion USD, an increase of 40% (equivalent to an increase of 1.32 billion USD); China reached 4.56 billion USD, an increase of 19% (equivalent to an increase of 714 million USD); ASEAN reached 3.2 billion USD, an increase of 47% (equivalent to an increase of 1.02 billion USD); South Korea reached 2.34 billion USD, an increase of 38% (equivalent to an increase of 646 million USD) and Japan reached 2.23 billion USD, an increase of 45% (equivalent to an increase of 690 million USD) compared to the same period last year.
Meanwhile, imports from 7 markets and groups of markets reached over 1 billion USD, with China alone contributing 60% to the increase in the country’s import value compared to January 2023.
In January 2024, China continued to be the largest market for supplying goods to our country. Imports from the Chinese market reached 11.88 billion USD, a sharp increase of 65%, equivalent to an increase of 4.66 billion USD compared to the same period last year. Thus, out of the 7.9 billion USD increase in the country’s import value compared to January 2023, the increase in imports from China accounted for 60%, mainly due to the increase in imports of machinery, equipment, spare parts; computers, electronic products and components; various types of iron and steel and products (these three groups of goods increased by 2.81 billion USD).
Next is imports from the South Korean market, reaching 4.19 billion USD, an increase of 7.3% (equivalent to an increase of 285 million USD); ASEAN reached 3.62 billion USD, an increase of 20.2% (equivalent to an increase of 609 million USD); Japan reached 1.95 billion USD, an increase of 16.4% (equivalent to an increase of 275 million USD); Taiwan reached 1.94 billion USD, an increase of 32% (equivalent to an increase of 470 million USD); the EU reached 1.31 billion USD, an increase of 28.3% (equivalent to an increase of 289 million USD); the US reached 1.24 billion USD, an increase of 33% (equivalent to an increase of 310 million USD) compared to the same period last year.
Regarding the export market for goods, the General Department of Customs also stated that the total export value of goods from Vietnam in January 2024 reached 34.53 billion USD, the highest level since August 2022, an increase of 9.7% compared to the previous month and an increase of 46% compared to the same period last year. The scale of the country’s export goods in January 2024 increased by 3.07 billion USD compared to the previous month and increased by 10.89 billion USD compared to the same period last year.
Compared to the previous month, the increase in the value of exported goods in January 2024 was mainly due to a 50.4% increase in the mobile phone and component group, equivalent to an increase of 1.87 billion USD. Compared to the same period last year, in January 2024, exports across the country increased in 44 out of 45 main groups of goods (except for crude oil, which decreased by 15.9%). Among them, the absolute increase recorded significant growth for industrial goods such as computers, electronic products and components, which increased by 68.3%, equivalent to an increase of 2.17 billion USD; machinery, equipment, tools, spare parts increased by 38.7%, equivalent to an increase of 1.21 billion USD; textile and garment increased by 39%, equivalent to an increase of 877 million USD; wood and wood products increased by 83.1%, equivalent to an increase of 667 million USD; all kinds of footwear increased by 43.8%, equivalent to an increase of 600 million USD; …
