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.
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.

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

Source: Vietnam Customs

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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.
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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.
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