Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in April of 2024, a 5.4% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of March 2024. Exports went down 7.7 %, to USD 31.05 billion and imports decreased 2.9%, to USD 29.99 billion in terms of month-on-month basis. As a result, there was a USD 1.07 billion surplus in Vietnam’s trade balance in this month.
2. In the first 4 months of 2024, Vietnam‘s trade-in-goods totaled US dollars 238.95 billion in value terms, 15.1% upwards as compared with last year. In which, total merchandise exports value went up 15.1 %, to US dollars 123.98 billion and the total merchandise imports value increased 15.1% to US dollars 114.96 billion. Accordingly, Vietnam’s trade balance of this period was in the surplus of US dollars 9.02 billion.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 40.21 billion in total for April of 2024, down by 7.3% on month-on-month basis. FDI’s export value of USD 21.74 billion and FDI’s import value of USD 18.47 billion led to a trade surplus of USD 3.28 billion.

For Jan-April period, trade-in-goods by FDI traders totaled US dollars 161.64 billion, up by 12.2% on year-on-year basis. Total value of FDI exportation was USD 88.83 billion, increased by 12.2%. On import side, the total value of those companies was USD 72.81 billion, down by 12.2%. As a result, FDI’s trade balance was in surplus of USD 16.02 billion.

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

Main Exports and Imports

4. The March of 2024 to April of 2024 reduction in total merchandise exports was due to the downwards in computers, electrical products, spare-parts and components thereof (down by USD 1.20 billion); telephones, mobile phones and parts thereof (down by USD 730 million); other means of transportation, parts and accessories thereof (down by USD 251 million); machine, equipments, tools and instruments (down by USD 201 million); crude oil (down by USD 116 million).

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

5. On a year-on-year basis, exports was up by USD 16.26 billion, to USD 123.98 billion. The main products, which contributed to the growth, were computers, electrical products, spare-parts and components thereof (up by USD 5.44 billion); machine, equipments, tools and instruments (up by USD 1.42 billion); still image, video cameras and parts thereof (up by USD 1.14 billion); wood and wooden products (up by USD 980 million); telephones, mobile phones and parts thereof (up by USD 870 million); coffee (up by USD 870 million); iron and steel (up by USD 710 million); textiles and garments (up by USD 660 million); fruits and vegetables (up by USD 520 million); rice (up by USD 510 million).

6. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 4 months of 2024 were: computers, electrical products, spare-parts and components thereof; telephones, mobile phones and parts thereof; machine, equipments, tools and instruments; textiles and garments.

Computers, electrical products, spare-parts and components thereof reached USD 21.48 billion in export value; went up 33.9% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 43.8% on year-on-year basis, to USD 6.8 billion); China (up by 23.5% on year-on-year basis, to USD 3.99 billion); Hong Kong (China) (up by 84.7%, to USD 2.56 billion) and Republic of Korea (up by 14.5% on year-on-year basis, to USD 1.86 billion).

Telephones, mobile phones and parts thereof reached USD 18.14 billion in export value and was up by 5% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 21.8% on year-on-year basis, to USD 3.81 billion); China (down by 13.9% on year-on-year basis, to USD 3.47 billion); EU (27) (down by 1.6% on year-on-year basis, to USD 2.55 billion) and Republic of Korea (up by 7.5% on year-on-year basis, to USD 1.16 billion).

Machine, equipments, tools and instruments reached USD 14.64 billion in export value; went up by 10.8% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 5.7% on year-on-year basis, to USD 5.64 billion); EU (27) (up by 16.8% on year-on-year basis, to USD 2.23 billion); Republic of Korea (up by 16% on year-on-year basis, to USD 1.02 billion).

Textiles and garments reached USD 10.42 billion in export value; went up by 6.7% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 5.7% on year-on-year basis, to USD 4.44 billion); Japan (up by 11.3%, to USD 1.26 billion); EU (27) (up by 0.1% on year-on-year basis, to USD 1.14 billion); Republic of Korea (up by 2.4% on year-on-year basis, to USD 1.01 billion).

7. The March of 2024 to April of 2024 decrease in total merchandise imports was due to the downwards of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 796 million); cashew nuts (down by USD 173 million); iron and steel (down by USD 86 million).

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

8. On a year-on-year basis, imports went up USD 15.09 billion, to USD 114.96 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 6.2 billion); machine, equipments, tools and instruments (up by USD 1.67 billion); iron and steel (up by USD 726 million); coal (up by USD 688 million).

9. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first quarter of 2024 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textile, leather and foot-wears materials and auxiliaries group; iron and steel.

Computers, electrical products, spare-parts and components thereof reached USD 31.65 billion in import value; went up by 24.3% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 52% on year-on-year basis, to USD 10.1 billion); Republic of Korea (up by 10.7% on year-on-year basis, to USD 9.22 billion); Taiwan (China) (up by 18.2%, to USD 3.81 billion); Japan (up by 19.8%, to USD 2.63 billion).

Machine, equipments, tools and instruments reached USD 14.13 billion in import value; went up 13.4% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 27.9% on year-on-year basis, to USD 8.10 billion); Republic of Korea (down by 4.8% on year-on-year basis, to USD 1.72 billion); Japan (down by 4.1% on year-on-year basis, to USD 1.28 billion).

Textile, leather and foot-wears materials and auxiliaries group reached USD 8.48 billion in import value; was up by 12.6% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 16.7% on year-on-year basis, to USD 4.66 billion); Republic of Korea (down by 5.1% on year-on-year basis, to USD 660 million).

Iron and steel reached USD 3.88 billion in import value; was up by 23% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 53.1% on year-on-year basis, to USD 2.36 billion); Japan (down by 13.8% on year-on-year basis, to USD 405 million); Republic of Korea (up by 3.9%, to USD 362 million).

Trading Partners

10. In the first 4 months of 2024, Vietnamese merchandise trade with trading partners in Asia was totaled USD 155.26 billion in value terms, which moved up 14.7% as compared to the same period of 2023. Trade-in-goods of Vietnam with America was followed, which reached USD 49.17 billion and increased by 18.1%. The values of other continents were Europe: USD 26.9 billion, up by 15.8%; Oceania: USD 5.04 billion, up by 0.5% and Africa: USD 2.59 billion, up by 10.2% in comparison with the same period of last year.

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

11. For Jan-April period, 4 exporting markets of Vietnam with turnover of over USD 7 billion were: The United States of America (reached USD 34.72 billion); China (reached USD 17.57 billion); Republic of Korea (reached USD 8.24 billion) and Japan (reached USD 7.56 billion).

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

12. On import side, 3 partners exporting goods to Vietnam with turnover of over 7 billion were as follows: China (reached USD 42.0 billion); Republic of Korea (reached USD 16.87 billion); Japan (reached USD 7.24 billion).

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

Source: Vietnam Customs

Related News

Highest determination to remove IUU "yellow card".

Highest determination to remove IUU "yellow card".

VCN - The 5th inspection of the European Commission (EC) is expected in October 2024, which is the decisive time for Vietnam to remove the "Yellow Card" warning in 2024. This is considered an important and urgent and important task because the EU is in the top 5 largest export markets of Vietnamese seafood, after the US and China.
Many seafood enterprises focus on developing the domestic market

Many seafood enterprises focus on developing the domestic market

VCN - In addition to promoting exports, many seafood businesses are expanding their market share in the domestic market to complete their plans.

Latest News

Preliminary assessment of Vietnam international merchandise trade performance in the first half of May, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first half of May, 2024

The Vietnam Customs Statistics announced that in the first half (01-15/5/2024) of May-2024, Vietnam’s total exports of US dollars 14.64 billion and imports of US dollars 17.26 billion resulted in a trade deficit of US dollars 2.63 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of May was US dollars 31.9 billion, went up by 7.7% as compared to the second half of April-2024.

More News

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

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

The Vietnam Customs Statistics announced that in the second half of April, 2024 the total Vietnam’s exports of US dollars 15.91 billion and imports of nearly US dollars 13.70 billion resulted in a trade surplus of US dollars 2.22 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of April was over US dollars 29.61 billion, down by 4.9% as compared to the first half of April-2024. Furthermore, in the first 4 months of 2024, Vietnam was in trade surplus of USD 9.02 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of April, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first half of April, 2024

The Vietnam Customs Statistics announced that in the first half (01-15/4/2024) of April-2024, Vietnam’s total exports of US dollars 15.03 billion and imports of US dollars 16.1 billion resulted in a trade deficit of US dollars 1.08 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of April was US dollars 31.13 billion, went down by 4.8% as compared to the second half of March-2024.
Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2024

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

Highlights 1. According to trade statistics of Vietnam Customs, in March of 2024, a 34.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of February 2024. Exports went up 36.4 %, to USD 33.66 billion and imports increased 32.5%, to USD 30.88 billion in terms of month-on-month basis. As a result, there was a USD 2.78 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of March, 2024

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

The Vietnam Customs Statistics announced that in the second half of March, 2024 the total Vietnam’s exports of US dollars 17.54 billion and imports of nearly US dollars 15.16 billion resulted in a trade surplus of US dollars 2.39 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of March was over US dollars 32.7 billion, up by 3.5% as compared to the first half of March-2024. Furthermore, in the first 3 months of 2024, Vietnam was in trade surplus of USD 7.8 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in February of 2024, a 26.7% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of January 2024. Exports went down 28.5 %, to USD 24.69 billion and imports decreased 24.6%, to USD 23.30 billion in terms of month-on-month basis. As a result, there was a USD 1.38 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2024

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

The Vietnam Customs Statistics announced that in the second half of February, 2024 the total Vietnam’s exports of US dollars 14.73 billion and imports of nearly US dollars 13.68 billion resulted in a trade surplus of US dollars 1.05 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of February was over US dollars 28.41 billion, up by 46.7% as compared to the first half of February-2024. Furthermore, in the first 2 months of 2024, Vietnam was in trade surplus of USD 5 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024

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

The Vietnam Customs Statistics announced that in the second half of January, 2024 the total Vietnam’s exports of US dollars 19.3 billion and imports of nearly US dollars 16.03 billion resulted in a trade surplus of US dollars 3.27 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of January was over US dollars 35.33 billion, up by 18.6% as compared to the first half of January-2024. Furthermore, in the first month of 2024, Vietnam was in trade surplus of USD 3.63 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2024

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

Highlights 1. According to trade statistics of Vietnam Customs, in the first month of 2024, a 7.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of December 2023. Exports went up 9.7 %, to USD 34.53 billion and imports increased 5.1%, to USD 30.90 billion in terms of month-on-month basis. As a result, there was a USD 3.63 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

The Vietnam Customs Statistics announced that in the second half of December, 2023 the total Vietnam’s exports of US dollars 16.31 billion and imports of nearly US dollars 13.66 billion resulted in a trade surplus of US dollars 2.65 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of December was over US dollars 29.98 billion, down by 1.8% as compared to the first half of December-2023. Furthermore, in 2023, Vietnam was in trade surplus of USD 28.3 billion.
Read More

Your care

Latest Most read
Preliminary assessment of Vietnam international merchandise trade performance in the first half of May, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first half of May, 2024

The Vietnam Customs Statistics announced that in the first half (01-15/5/2024) of May-2024, Vietnam’s total exports of US dollars 14.64 billion and imports of US dollars 17.26 billion resulted in a trade deficit of US dollars 2.63 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of May was US dollars 31.9 billion, went up by 7.7% as compared to the second half of April-2024.
Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in April of 2024, a 5.4% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of March 2024. Exports went down 7.7 %, to USD 31.05 billion and imports decreased 2.9%, to USD 29.99 billion in terms of month-on-month basis. As a result, there was a USD 1.07 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of April, 2024

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

The Vietnam Customs Statistics announced that in the second half of April, 2024 the total Vietnam’s exports of US dollars 15.91 billion and imports of nearly US dollars 13.70 billion resulted in a trade surplus of US dollars 2.22 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of April was over US dollars 29.61 billion, down by 4.9% as compared to the first half of April-2024. Furthermore, in the first 4 months of 2024, Vietnam was in trade surplus of USD 9.02 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of April, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first half of April, 2024

The Vietnam Customs Statistics announced that in the first half (01-15/4/2024) of April-2024, Vietnam’s total exports of US dollars 15.03 billion and imports of US dollars 16.1 billion resulted in a trade deficit of US dollars 1.08 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of April was US dollars 31.13 billion, went down by 4.8% as compared to the second half of March-2024.
Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2024

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

Highlights 1. According to trade statistics of Vietnam Customs, in March of 2024, a 34.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of February 2024. Exports went up 36.4 %, to USD 33.66 billion and imports increased 32.5%, to USD 30.88 billion in terms of month-on-month basis. As a result, there was a USD 2.78 billion surplus in Vietnam’s trade balance in this month.
Mobile Version