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

Source: Vietnam Customs

15:18 | 19/12/2024 Customs Statistics Follow english.haiquanonline.com.vn on

The Vietnam Customs Statistics announced that in the second half of November, 2024 the total Vietnam’s exports of US dollars 16.9 billion and imports of nearly US dollars 15.73 billion resulted in a trade surplus of US dollars 1.17 billion.

Accordingly, the total value of export and import turnover of Vietnam in the second half of November was over US dollars 32.63 billion, down by 2.4% as compared to the first half of November-2024. Furthermore, in the first 11 months of 2024, Vietnam was in trade surplus of USD 24.31 billion.

Vietnam‘s trade-in-goods in the first 11 months of 2024 totaled US dollars 715.56 billion in value terms, climbed up by 15.4% (USD 95.32 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 11 months of 2024 reached USD 484 billion, up by 13.7% (USD 58.41 billion equally) in comparison to the same period of 2023.

Export:

As compared to the first half of November-2024, second half of the month increase in the total export value (1% - USD 165 million equally) is reflected by upturn in textiles and garments (up by 10% - USD 145 million equally); irons and steels (up by 61.6% - USD 141 millionn equally); coffee (up by 86.3% - USD 105 million equally); rice ( up by 37.8% - USD 70.6 million equally).

Totally, in the first 11 months of 2024 total export value from Vietnam was USD 369.94 billion, climbed up 14.4% as compared to the same period of 2023 (equivalent to USD 46.7 billion in absolute value terms).

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

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

Source: Vietnam Customs

Import:

The first half to second half of November shrunk in the total of import value (5.8% - USD 970 million equally) reflected downturn in computer, electrical products (down by 4.6% - USD 214 million equally); crude oil (down by 55% - USD 183 million equally); machine, tools and equipment (down by 4.6% - USD 103 million equally); coal (down by 39.4% - USD 100 million equally)…

From January to second half of November-2024, total import value into Vietnam was USD 345.62 billion, went up by 16.4% as compared to the same period of 2023 (equivalent to USD 48.62 billion in absolute value terms).

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

Source: Vietnam Customs

Source: Vietnam Customs

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