3 imported groups see a rise of US$16 billion in trade turnover

VCN - Computers, electronic products and components; machinery, equipment, tools and spare parts; Iron and steel of all kinds are the 3 product groups recording the highest rise in import turnover.
Leverage to increase the scale of Vietnam - Laos trade turnover Leverage to increase the scale of Vietnam - Laos trade turnover
Four export groups rise by more than US$17 billion in trade turnover Four export groups rise by more than US$17 billion in trade turnover
FDI sector accounts for nearly 68% of country's trade turnover FDI sector accounts for nearly 68% of country's trade turnover
Chart: T. Binh
Chart: T. Binh

According to the latest preliminary statistics of the General Department of Customs, Vietnam's total import turnover in the first period of July (July 1-15) reached US$16.43 billion, an increase of 10.6% or US$1.57 billion compared to the results in the second half of June 2024.

Imports in the first period of July increased compared to the second period of June 2024, mainly in some groups such as: computers, electronic products and components rose by 16.1%; crude oil rose 98.9%.

Thus, from the beginning of the year to the end of July 15, the country's total import turnover grew 17.6% or US$29.31 billion year-on-year to US$195.37 billion. Among them, the three groups have the highest increase in turnover including: computers, electronic products and components; machinery, equipment, tools and spare parts; steels.

Specifically, computers, electronic products and components increased US$12.01 billion to reached US$54.3 billion. The main import markets are China, South Korea, Taiwan (China), Japan...

Machinery, equipment, tools and spare parts increased US$3.27 billion to US$24.46 billion. China, South Korea, Japan... are also the main import markets of this group.

Iron and steel of all kinds reached increased US$1.27 billion to US$6.42 billion. China is the largest market, accounting for over 61% of our country's iron and steel import turnover.

Thus, the three product groups mentioned above alone have an increased turnover of US$16.55 billion, accounting for 56.46% of the country's increased import turnover.

By Thai Binh/ Huyen Trang

Related News

Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in September of 2024, a 8.0% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of August 2024. Exports went down 9.8 %, to USD 34.08 billion and imports decreased 5.9%, to USD 31.76 billion in terms of month-on-month basis. As a result, there was a USD 2.32 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of September, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of September, 2024

The Vietnam Customs Statistics announced that in the second half of September, 2024 the total Vietnam’s exports of US dollars 19.71 billion and imports of nearly US dollars 16.74 billion resulted in a trade surplus of US dollars 2.97 billion.
Top 500 Largest Enterprises in Vietnam in 2024: Affirming the ability to overcome "headwinds"

Top 500 Largest Enterprises in Vietnam in 2024: Affirming the ability to overcome "headwinds"

VCN - On November 8, 2024, Vietnam Report in collaboration with VietNamNet Newspaper announced the VNR500 Ranking - Top 500 Largest Enterprises in Vietnam in 2024. The indicators under the VNR500 Ranking show that the business performance has been positive although there are still "headwinds".
"Explosion" of aviation retail with new services

"Explosion" of aviation retail with new services

VCN - With many large investment projects, Vietnam is considered a potential destination for the aviation trade industry in the Asian region, in which aviation retail will "explode".

Latest News

VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Approach strategy of the seafood industry when implementing UKVFTA

Approach strategy of the seafood industry when implementing UKVFTA

VCN - As one of Vietnam's strong export industries to the UK, especially when the Vietnam - United Kingdom of Great Britain and Northern Ireland Free Trade Agreement (UKVFTA) comes into effect, with a detailed information approach strategy, it has created a great driving force to promote the export of Vietnamese seafood products to this market.
Mid-November: Vietnam

Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth

VCN - By mid-November 2024, Vietnam's total import-export turnover reached an impressive US$681.48 billion, equaling the full-year trade figure for 2023
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN – In recent years, with the rapid development of cross-border e-commerce (CBEC) platforms, domestic enterprises in Vietnam have been facing numerous difficulties and challenges.

More News

Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Shrimp exports surge in 10 months, generating 3.2 billion USD

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached US$394 million, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

VCN - By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.
From the “abnormal” coffee price, worries about the new crop

From the “abnormal” coffee price, worries about the new crop

VCN - The Vietnamese coffee industry enters the new crop with the question of what is a reasonable price to ensure benefits for coffee growers while still retaining international consumers.
What obstacles limit the market share of Vietnamese goods in the UK?

What obstacles limit the market share of Vietnamese goods in the UK?

VCN - Vietnamese goods account for only about 1% of total imports into the UK market. One of the reasons is that they have not yet built their own brands and have not focused on effective strategies and approaches to market information.
Why seafood exports to some Middle Eastern Countries are stalled

Why seafood exports to some Middle Eastern Countries are stalled

VCN - Several shipments of seafood exported to certain Middle Eastern countries have been delayed due to legal challenges related to consular legalization procedures. This has created significant bottlenecks in accessing these markets.
Storm No. 3 destroys profits of many insurance companies

Storm No. 3 destroys profits of many insurance companies

VCN - Due to the impact of storm No. 3, the business results of the third quarter and the first 9 months of 2024 of the insurance sector have been significantly affected. This requires more efforts from businesses for the results of the whole year 2024.
Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Cooperation in the Halal industry can help Vietnamese products reach nearly 2 billion Muslim consumers worldwide, representing over 24% of the global population, according to Malaysia’s Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.
Tra fish sector aiming for production, processing greening for sustainable development

Tra fish sector aiming for production, processing greening for sustainable development

Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.
Read More

Your care

Latest Most read
VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Approach strategy of the seafood industry when implementing UKVFTA

Approach strategy of the seafood industry when implementing UKVFTA

VCN - Mr. Nguyen Hoai Nam, Deputy General Secretary, Vietnam Association of Seafood Exporters and Producers (VASEP), said that the advantage that UKVFTA brings is that the main products of the seafood industry enjoy 0% import tax to the UK, especially key
Mid-November: Vietnam

Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth

By mid-November 2024, Vietnam's total import-export turnover reached an impressive US$681.48 billion, equaling the full-year trade figure for 2023
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN - E-commerce platforms have emerged as crucial distribution channels, enabling goods to reach consumers quickly and conveniently.
Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Mobile Version