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

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 6 months of 2024 reached USD 250.09 billion, up by 13.9% (USD 30.49 billion equally) in comparison to the same period of 2023.

Export:

As compared to the first half of June-2024, second half of the month increase in the total export value (14.1% - USD 2.22 billion equally) is reflected by upturn in computer, electrical products, spare-parts and components thereof (up by 28.6% - USD 820 million equally); telephone, mobile phones and part there of ( up by 32.8% - USD 669 million equally); machine, tools and equipment ( up by 9.3% - USD 190 million equally); irons and steels (up by 55.5% - 161 million equally); textiles and garments (up by 7.5% - USD 114 million equally).

Totally, in the first 6 months of 2024 total export value from Vietnam was USD 190.73 billion, climbed up 14.9% as compared to the same period of 2023 (equivalent to USD 24.74 billion in absolute value terms).

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

Source: Vietnam Customs

Import:

The first half to second half of June shrunk in the total of import value reflected downturn in crude oil (down by 60.7% - USD 265 million equally); computer, electrical products , spare-parts and components thereof (down by 5.4% - USD 246 million equally); petroleum products (down by 28.4% - USD 97 million equally); animal fodder and animal fodder materials (down by 28.8% - USD 71 million equally).

From January to second half of June-2024, total import value into Vietnam was USD 178.89 billion, went up by 17.3% as compared to the same period of 2023 (equivalent to USD 26.34 billion in absolute value terms).

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

Source: Vietnam Customs