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

Source: Vietnam Customs

09:37 | 21/08/2024 Customs Statistics Follow english.haiquanonline.com.vn on

The Vietnam Customs Statistics announced that in the first half (01-15/7/2024) of July-2024, Vietnam’s total exports of US dollars 16.26 billion and imports of US dollars 16.43 billion resulted in a trade deficit of nearly US dollars 170 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of July was US dollars 32.69 billion, down by 0.3% as compared to the second half of June-2024.

Vietnam‘s trade-in-goods from January to the first half of July of 2024 totaled US dollars 402.62 billion in value terms. It posted an increase of 16.4% (equivalent to USD 56.63 billion) from the same period of previous year. In which, the total merchandise exports value was up 15.2% to nearly US dollars 207.25 billion and the total merchandise imports value was up by 17.6%, to US dollars 195.37 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of July of 2024 reached USD 272.87 billion, up by 14.8% as compared to the same period of last year.

Export:

When compared with the second half of June-2024, export of first half of July decreased by 9.4%, mostly as a result of the downturn registered in computer electrical products and part thereof (down by 28.4% - USD 1.05 billion); telephone, mobile phones and part thereof (down by 9.9% - 268 million); irons and steels (down by 29.8% - USD 135 million)…

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to July 15th 2024 as compared to the same period of 2023.

Import:

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

In the first half of July 2024, import increased by 10.6% when compared with the second half of June, mainly reflecting the upturm in computer electrical products and part thereofs (up by 16.1% - USD 688 million); crude oil (up by 98.9% - USD 170 million) …

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to July 15th 2024 as compared to the same period of 2023.

Source: Vietnam Customs

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