Phones and components led the export turnover in the first 2 months of the year

In the first 2 months of 2024, most products recorded growth; Up to 39/45 items increased compared to the same period last year. Notably, phones of all types and components are the leading items in export turnover, estimated at US$9.58 billion.
Export turnover of all types of phones and components is estimated to reach 9.58 billion USD in the first 2 months of the year. Illustrative photo: Internet
Export turnover of all types of phones and components is estimated to reach 9.58 billion USD in the first 2 months of the year. Illustrative photo: Internet

According to the Ministry of Industry and Trade, import and export activities of goods are a highlight in the first two months of 2024 with total export and import turnover estimated at 113.96 billion USD, an increase of 18.6% over the same period last year (same period last year decreased by 13.3%), of which exports increased by 19.2%; Imports increased by 18% and the trade balance of goods had a trade surplus of 4.72 billion USD.

In export activities, export turnover of goods is estimated at 59.3 billion USD. Of which, the domestic economic sector is estimated to reach 16.14 billion USD, an increase of 33.3%, accounting for 27.2% of total export turnover; The foreign invested sector (including crude oil) reached 43.2 billion USD, an increase of 14.7%, accounting for 72.8%.

The Ministry of Industry and Trade assessed that the export of the domestic economic sector increased impressively, more than twice the increase of the foreign-invested economic sector (33.3% compared to 14.7%) showing the efforts of the domestic economic sector in maintaining and expanding export markets.

In the first 2 months of 2024, there are 11 items with export turnover of over 1 billion USD, accounting for 75.1% of total export turnover, of which 4 export items with export turnover of over 5 billion USD, accounting for 52.5%.

Regarding the structure of export goods, the fuel and minerals group is estimated at 0.57 billion USD, accounting for 0.95%; The group of processed industrial goods is estimated at 50.59 billion USD, accounting for 85.26%; The group of agricultural, forestry and aquatic products is estimated to reach 5.5 billion USD, accounting for 9.3%. In particular, exports grew strongly and evenly in both the agricultural, forestry and fishery products group (up 38.8%) and the processing industry group (up 18.3%).

The Ministry of Industry and Trade said that in the first 2 months of the year, most products recorded growth; Up to 39/45 items increased compared to the same period last year.

The export turnover of many groups of processed industrial products achieved high growth rates, even double-digit increases, in which key export items such as wood and wood products increased by 43.8%; iron and steel increased by 45.4%; footwear increased by 18.3%; computers, electronic products and components increased by 33.9%; textiles and garments increased by 15%, etc.

Notably, phones of all types and components are the leading items in export turnover, estimated at 9.58 billion USD, up 4.1% over the same period last year; Next is computers, electronic products and components, estimated at 9.54 billion USD, up 33.9% over the same period last year.

Exports to major markets recovered well and achieved high growth. In particular, the United States is still our country's largest export market, estimated at 17.4 billion USD, up 33.7% over the same period last year; followed by Japan which is estimated to increase by 19.6%; EU is estimated to increase by 14.2%, China is estimated to increase by 7.7%, etc.

The favorable start in the first two months of the year with increased orders and businesses speeding up production to keep up with export schedules has opened a positive signal and brought expectations for exporting Vietnamese goods in 2024.

On the contrary, due to the strong recovery of production and exports in the first two months of the year, the demand for imported machinery, equipment and raw materials for production increased.

In the first 2 months of 2024, the import turnover of goods is estimated to reach 54.62 billion USD, up 18% over the same period last year, of which the domestic economic sector reached 19.67 billion USD, up 27.4% over the same period last year; The foreign investment sector reached 34.95 billion USD, an increase of 13.3%.

Notably, importing the group of production materials accounted for 94% and increased by 22.2%, of which imports of machinery, equipment, tools and spare parts accounted for 47%; increased by nearly 25%, showing positive signs of the recovery of production and exports.

Of these, computers, electronic products and components continue to be the items with the largest import turnover, estimated at 15.56 billion USD, up 24.4% over the same period last year and accounting for 28% of the total import turnover of the country. Next, the import turnover of machinery, equipment, tools and spare parts also increased by 24.8%, reaching nearly 7 billion USD; Fabric imports increased by 15.4%, reaching 1.98 billion USD; Iron and steel increased by 62.7%, reaching 1.95 billion USD; crude oil increased by 27.5%; Plastic raw materials increased by 13.2%; All kinds of phones and accessories increased by 17.7%, etc.

By Ngọc Linh/Phuong Linh

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