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Import and export in year-end months gained many positive developments. In the photo, import and export goods at Hai Phong port area. Photo: T.Binh.

11 months reached 19.36 billion USD

On the afternoon of December 15, the General Department of Customs announced the main developments of import and export activities in the second period of November 2023 (from November 16 to November 30, 2023). Accordingly, turnover in the second period reached 30.96 billion USD, an increase of 5.2% (equivalent to an increase of 1.53 billion USD) compared to the results in the first half of November 2023.

The results achieved in the second half of November 2023 have brought the country's total import-export turnover in the past 11 months to 619.36 billion USD. However, this result still decreased by 8.2% (equivalent to a decrease of 55.56 billion USD) compared to the same period last year. In 11 months, the total import-export turnover of enterprises with foreign direct investment (FDI) reached 425.27 billion USD, down 9.3% (corresponding to a decrease of 43.5 billion USD); Import-export of domestic businesses was 194.09 billion USD, down 5.8% (corresponding to a decrease of 12.06 billion USD).

Accordingly, in the second period of November, the trade balance of goods had a surplus of 1.78 billion USD. Overall, in 11 months, the trade balance of goods had a surplus of 25.86 billion USD, 2.5 times higher than the surplus of 10.32 billion USD in the same period last year.

If the turnover scale is maintained at over 60 billion USD/month as in recent months, by the end of 2023, the country's import-export turnover will reach or exceed 680 billion USD, down about 50 billion USD compared to 2022 (more than 730 billion USD). Despite sharp decrease compared to 2022, the turnover achieved this year is still the second highest figure in Vietnam's foreign trade history and is a positive result in a chaotic year of the global and domestic economy.

Exports decreased less than imports

Regarding exports, the total turnover in the second period of November reached 16.37 billion USD, an increase of 11.7% (equivalent to an increase of 1.72 billion USD) compared to the first period of November 2023. Exports in the second period of November increased compared to the first period of November 2023, mainly in some key commodity groups such as: Computers, electronic products and components surged by 257 million USD (corresponding to an increase of 10.6%). Machinery, equipment, tools and spare parts went up 184 million USD (corresponding to an increase of 10%). Textiles and garments soared by 166 million USD (equivalent to an increase of 12.8%).

Phones of all types and components witnessed an upward trend by 152 million USD (corresponding to an increase of 7.2%). Coffee shop up by 120 million USD (corresponding to an increase of 103%). Petroleum of all kinds increased by 91 million USD (corresponding to an increase of 184%). Footwear of all kinds increased by 89 million USD (corresponding to an increase of 9.7%). Iron and steel of all kinds ascended to 87 million USD (equivalent to an increase of 31.2%)...

Accumulated by the end of November, Vietnam's total export turnover reached 322.61 billion USD, down 5.8% (equivalent to a decrease of 20.01 billion USD) compared to the same period in 2022. On the contrary, Vietnam's imports in the second period of November reached 14.59 billion USD, down 1.2% (equivalent to a decrease of 184 million USD) compared to the results in the first half of November 2023. Import turnover of goods in the second period of November decreased compared to the previous period, mainly in commodity groups such as: Crude oil decreased by 221 million USD (corresponding to a decrease of 54%).

Computers, electronic products and components decreased by 137 million USD (down 3.2%). Corn decreased by 83 million USD (corresponding to a decrease of 66.9%). Phones of all types and components decreased by 80.8 million USD (corresponding to a decrease of 16.4%). Pharmaceutical products decreased by 55 million USD (equivalent to a decrease of 27.7%)... However, the second period of November also recorded an increase in import turnover compared to the previous period, such as: Coal of all kinds increased by 249 million USD (corresponding to an increase of 115.8%).

Iron and steel of all kinds increased by 75 million USD (equivalent to an increase of 15.2%). Petroleum of all kinds increased by 74.9 million USD (equal to an increase of 34.2%). Cashew nuts increased by 28.3 million USD (approximate with an increase of 64.2%)...

By the end of November, the country's total import turnover reached 296.75 billion USD, down 10.7% (equivalent to a decrease of 35.55 billion USD) compared to the same period in 2022. Thus, over the past 11 months, exports have recorded a downtrend more slowly than imports.