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

Vietnam‘s trade-in-goods in the first 8 months of 2024 totaled US dollars 512.31 billion in value terms, climbed up by 17% (USD 74.28 billion equally) as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 8 months of 2024 reached USD 347.04 billion, up by 15.3% (USD 46.16 billion equally) in comparison to the same period of 2023.

Export:

As compared to the first half of August-2024, second half of the month increase in the total export value (22.5% - USD 3.8 billion equally) is reflected by upturn in computer, electrical products, spare-parts and components thereof (up by 24.4% - USD 733 million equally); machine, tools and equipment (up by 29.9% - USD 617 million equally); textiles and garments (up by 18.9% - USD 349 million equally); telephone, mobile phones and part there of ( up by 11.8% - USD 261 million equally); irons and steels (up by 64.8% - USD 232 million equally).

Totally, in the first 8 months of 2024 total export value from Vietnam was USD 265.44 billion, climbed up 15.9% as compared to the same period of 2023 (equivalent to USD 36.48 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of the second half over the first half of August 2024

Source: Vietnam Customs

Import:

The first half to second half of August widen in the total of import value (8,1% - USD 1,29 billion equally) reflected upturn in corn (up by 362.8% - USD 183 million equally); computer, electrical products , spare-parts and components thereof (up by 3.1% - USD 145 million equally); animals and animal fodders (up by 82.8% - USD 132 million equally); coals (up by 39.5% - USD 111 million equally)…

From January to second half of August-2024, total import value into Vietnam was USD 246.87 billion, went up by 18.1% as compared to the same period of 2023 (equivalent to USD 37.8 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of the second half over the first half of August 2024

Source: Vietnam Custom