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

Source: Vietnam Customs

09:08 | 29/08/2024 Customs Statistics Follow english.haiquanonline.com.vn on

The Vietnam Customs Statistics announced that in the second half of July, 2024 the total Vietnam’s exports of US dollars 19.89 billion and imports of nearly US dollars 17.28 billion resulted in a trade surplus of US dollars 2.6 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of July was over US dollars 37.17 billion, up by 13.7% as compared to the first half of July-2024. Furthermore, in the first 7 months of 2024, Vietnam was in trade surplus of USD 14.52 billion.

Vietnam‘s trade-in-goods in the first 7 months of 2024 totaled US dollars 440.45 billion in value terms, climbed up by 17.2% (USD 64.66 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 7 months of 2024 reached USD 298.60 billion, up by 15.6% (USD 40.19 billion equally) in comparison to the same period of 2023.

Export:

As compared to the first half of July-2024, second half of the month increase in the total export value (22.3% - USD 3.62 billion equally) is reflected by upturn in computer, electrical products, spare-parts and components thereof (up by 23% - USD 608 million equally); telephone, mobile phones and part there of ( up by 23.3% - USD 570 million equally); machine, tools and equipment (up by 21.4% - USD 463 million equally); textiles and garments (up by 23.9% - USD 396 million equally); foot-wear (up by 18.8% - USD 182 million equally); irons and steels (up by 44.5% - USD 141 million equally).

Totally, in the first 7 months of 2024 total export value from Vietnam was USD 227.49 billion, climbed up 16% as compared to the same period of 2023 (equivalent to USD 31.34 billion in absolute value terms).

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

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

Source: Vietnam Customs

Import:

The first half to second half of July widen in the total of import value reflected upturn in machine, tools and equipment (up by 15.5% - USD 317 million equally); crude oil (up by 28.3% - USD 96.8 million equally); computer, electrical products , spare-parts and components thereof (up by 1.4% - USD 68 million equally); coals (up by 16.8% - USD 64.8 million equally)…

From January to second half of July-2024, total import value into Vietnam was USD 212.97 billion, went up by 18.5% as compared to the same period of 2023 (equivalent to USD 33.32 billion in absolute value terms).

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

Source: Vietnam Customs

Source: Vietnam Customs

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