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

Source: Vietnam Customs

13:44 | 21/06/2024 Customs Statistics Follow english.haiquanonline.com.vn on

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.

Vietnam‘s trade-in-goods from January to the first half of May of 2024 totaled US dollars 270.82 billion in value terms. It posted an increase of 16.8% (equivalent to USD 38.87 billion) from the same period of previous year. In which, the total merchandise exports value was up 16.1% to nearly US dollars 138.59 billion and the total merchandise imports value was up 17.5%, to US dollars 132.23 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of May of 2024 reached USD 182.8 billion, up by 13.9% as compared to the same period of last year.

Export:

When compared with the second half of April-2024, export of first half of May decreased by 8%, mostly as a result of the climb-down registered in irons and steels (down by 48.9% - USD 256 million); machine, equipment, tools and instruments (down by 10.9% - USD 218 million equally); telephones, mobile phones and parts thereof (down by 9.5% - USD 187 million equally); wood and wooden products (down by 15.7% - USD 108 million equally)…

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

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

Import:

In the first half of May 2024, import increased by 26% when compared with the second half of April, mainly reflecting the evolution of computer, electrical products (up by 25.5% - USD 915 million); machine, equipment, tools and instruments (up by 32.2% - USD 542 million); fabrics (up by 33.2% - USD 203 million).

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

Attached files

Source: Vietnam Customs

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