Import-export turnover surpass the $440 billion mark

According to the latest preliminary statistics released by the General Department of Customs on August 15 , Vietnam's total import-export value in the second half of July 2024 reached $37.17 billion, up 13.7 per cent (equivalent to an increase of $4.48 billion) compared to the first half of the month..

As a result, the country's total import-export value in the first seven months of 2024 reached $440.45 billion, up 17.2 per cent, equivalent to an increase of $64.66 billion compared to the same period in 2023.

Of this, the total import-export turnover from FDI enterprises stood at $298.60 billion, up 15.6 per cent (equivalent to an increase of $40.19 billion) year on year.

In terms of exports, the value in the second half of July reached $19.89 billion, up 22.3 per cent (equivalent to an increase of $3.62 billion) compared to the first half.

Some  product groups, including computers, electronic products, and components increased by $608 million or 23 per cent;  phones and components, $570 million or 23.3 per cent; machinery, equipment, tools, and spare parts, $463 million or 21.4 per cent; textiles and garments, $396 million or 23.9 per cent; footwear, $182 million or 18.8 per cent; and various types of steel, $141 million or 44.5 per cent. 

Thus, in the first seven months of 2024, Vietnam's total export value reached $227.49 billion, up 16 per cent year on year, equivalent to an increase of $31.34 billion.

Customs statistics also showed that the export value from FDI enterprises in the second half of July reached $14.37 billion, up 21.8 per cent (equivalent to an increase of $2.57 billion) compared to the first half, raising their total export value in the first seven months of 2024 to $163.21 billion, up 14.2 per cent year on year (equivalent to an increase of $20.24 billion), accounting for 71.7 per cent of the country's total export value.

On the other hand, Vietnam's total import value in the second half of July reached $17.28 billion, up 5.2 per cent (equivalent to an increase of $852 million) compared to the first half.

Several product groups, including machinery, equipment, tools, and spare parts increased by $317 million or 15.5 per cent;  crude oil, $96.8 million or 28.3 per cent; computers, electronic products, and components, $68 million or 1.4 per cent; various types of coal, $64.8 million or 16.8 per cent; auto parts, $29 million or 14.1 per cent; and animal and vegetable oils, $28.7 million or 68.4 per cent.

In contrast, the import value of some product groups decreased in the second half of July compared to the first half, such as corn, down $57.8 million or 40.2 per cent; ores and other minerals, $37.9 million or 23.9 per cent; and wheat,  $25.7 million or 43.8 per cent.

Thus, in the first seven months of 2024, the country's total import value reached $212.97 billion, up 18.5 per cent, equivalent to an increase of $33.32 billion, compared to the same period last year.

In the first seven months of 2024, the total import value of FDI enterprises reached $135.38 billion, up 17.3 per cent (equivalent to an increase of $19.95 billion) compared to the same period last year, accounting for 63.6 per cent of the country's total import value.

With these results, the trade balance of goods in the second half of July 2024 had a surplus of $2.6 billion. The figure in the first seven months of 2024 stood at $14.52 billion, decreased by $1.98 billion, compared to the same period last year.