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

09:40 | 12/12/2024

The Vietnam Customs Statistics announced that in the second half of October, 2024 the total Vietnam’s exports of US dollars 19.39 billion and imports of nearly US dollars 17.63 billion resulted in a trade surplus of US dollars 1.76 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of October was over US dollars 37.02 billion, up by 16% as compared to the first half of October-2024. Furthermore, in the first 10 months of 2024, Vietnam was in trade surplus of USD 23.35 billion.

Vietnam‘s trade-in-goods in the first 10 months of 2024 totaled US dollars 647.91 billion in value terms, climbed up by 15.8% (USD 88.61 billion equally) as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 10 months of 2024 reached USD 438.83 billion, up by 14.2% (USD 54.55 billion equally) in comparison to the same period of 2023.

Export:

As compared to the first half of October-2024, second half of the month increase in the total export value (20% - USD 3.24 billion equally) is reflected by upturn in computer, electrical products, spare-parts and components thereof (up by 31.7% - USD 806 million equally); machine, tools and equipment (up by 22.1% - USD 521 billion equally); telephone, mobile phones and part there of ( up by 24.1% - USD 494 million equally); textiles and garments (up by 14.5% - USD 217 million equally); footwears (up by 21.1% - USD 194 million equally); wood and wooden products (up by 16.7% - USD 118 million euqually).

Totally, in the first 10 months of 2024 total export value from Vietnam was USD 335.63 billion, climbed up 14.9% as compared to the same period of 2023 (equivalent to USD 43.58 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of the second half over the first half of October 2024

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

Source: Vietnam Customs

Import:

The first half to second half of October widen in the total of import value (11.8% - USD 1.86 billion equally) reflected upturn in computer, electrical products, spare-parts and components thereof (up by 16.1% - USD 696 million equally); machine, tools and equipment (up by 11.6% - USD 235 billion equally); means of transports (up by 140% - USD 92.2 million equally); fabrics (up by 14.4% - USD 88.5 million equally).

From January to second half of October-2024, total import value into Vietnam was USD 312.28 billion, went up by 16.8% as compared to the same period of 2023 (equivalent to USD 45.03 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of the second half over the first half of October 2024

Source: Vietnam Customs

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