Total import-export turnover reaches US$715.55 billion in 11 months

VCN - In November, total import-export turnover amounted to US$66.4 billion, down 4.1% compared to the previous month but up 9.0% compared to the same period last year.
Trade in goods of FDI enterprises account for about 68% of the country's import-export turnover Trade in goods of FDI enterprises account for about 68% of the country's import-export turnover
Import-export turnover in September reaches US$ 10.5 billion: Hai Phong Customs Import-export turnover in September reaches US$ 10.5 billion: Hai Phong Customs
Total import-export turnover reaches US$715.55 billion in 11 months
In the first 11 months of 2024, Vietnam's total export turnover of goods reached US$369.93 billion, a 14.4% increase compared to the same period last year. (Illustrative photo: T.L)

According to data from the General Statistics Office, the total import-export turnover for the first 11 months of 2024 reached US$715.55 billion, an increase of 15.4% compared to the same period last year. Exports rose by 14.4%, imports increased by 16.4%, and the trade balance achieved a surplus of US$24.31 billion.

The export turnover in November 2024 reached US$33.73 billion, a decrease of 5.3% compared to the previous month. Of this, the domestic economic sector contributed US$9.85 billion (down 4.3%), while the foreign-invested sector (including crude oil) contributed US$23.88 billion (down 5.7%).

Compared to the same period last year, November's export turnover increased by 8.2%. The domestic economic sector saw a 13.4% rise, while the foreign-invested sector (including crude oil) experienced a 6.1% increase.

For the 11-month period in 2024, export turnover reached US$369.93 billion, up 14.4% year-over-year. The domestic economic sector accounted for US$103.88 billion, an increase of 20.0%, representing 28.1% of total export turnover. The foreign-invested sector (including crude oil) accounted for US$266.05 billion, an increase of 12.4%, representing 71.9%.

In the first 11 months of 2024, 36 product categories achieved export turnovers exceeding US$1 billion, accounting for 94.1% of total export turnover. Among them, seven products recorded export turnovers over US$10 billion, making up 66.5%.

In terms of export structure, the fuels and minerals group reached US$3.89 billion, accounting for 1.1%; the processed industrial goods group achieved US$325.52 billion, accounting for 88%; the agricultural and forestry products group totaled US$31.35 billion, making up 8.4%; and the seafood products group contributed US$9.17 billion, accounting for 2.5%.

Meanwhile, the preliminary import turnover of goods for November 2024 was US$32.67 billion, a decrease of 2.8% compared to the previous month. Of this, the domestic economic sector recorded US$12.38 billion, down 2.4%; and the foreign-invested sector reached US$20.29 billion, down 3%.

Compared to the same period last year, November's import turnover of goods rose by 9.8%, with the domestic economic sector increasing by 15.2% and the foreign-invested sector by 6.8%.

For the first 11 months of 2024, the preliminary total import turnover was US$345.62 billion, an increase of 16.4% compared to the same period last year. Of this, the domestic economic sector contributed US$126.05 billion, up 18.5%; and the foreign-invested sector accounted for US$219.57 billion, up 15.2%.

In the first 11 months of 2024, 44 imported goods categories reached a value of over US$1 billion, accounting for 92.6% of total import turnover. Among these, five categories surpassed US$10 billion, representing 51.4%.

In terms of the structure of imported goods during this period, the capital goods category had a preliminary value of US$323.72 billion, making up 93.7% of total imports. Within this, machinery, equipment, tools, and spare parts accounted for 47.5%; raw materials, fuels, and supplies made up 46.2%. The consumer goods category reached US$21.9 billion, comprising 6.3% of total imports.

Regarding trade markets, the US was Vietnam's largest export destination in the first 11 months of 2024, with export turnover reaching US$108.9 billion. Meanwhile, China was the largest source of imports, with turnover amounting to US$130.2 billion.

During this period, the trade surplus with the US reached US$95.4 billion, an increase of 26.7% year-on-year; the trade surplus with the EU was US$32 billion, up 21.1%; the trade surplus with Japan was US$2.6 billion, up 70.0%; the trade deficit with China was US$75.0 billion, up 67.7%; the trade deficit with South Korea was US$27.7 billion, up 5.2%; and the trade deficit with ASEAN was US$8.6 billion, up 13.3%.

In the first 11 months of 2024, the preliminary trade balance showed a surplus of US$24.31 billion, compared to a surplus of US$26.2 billion in the same period last year. In which, the domestic economic sector experienced a trade deficit of US$22.17 billion; and the foreign-invested sector (including crude oil) recorded a trade surplus of US$46.48 billion.

By Xuan Thao/ Ha Thanh

Related News

Customs sector collects over VND384 trillion in revenue

Customs sector collects over VND384 trillion in revenue

VCN - By the end of November, the Customs revenue exceeded the estimate by 2.6% and increased by 14.8% compared to the same period in 2023, the General Department of Vietnam Customs released on December 11.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2024

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

The Vietnam Customs Statistics announced that in the first half (01-15/11/2024) of November-2024, Vietnam’s total exports of US dollars 16.73 billion and imports of US dollars 16.7 billion resulted in a trade surplus of nearly US dollars 31 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of November was US dollars 33.44 billion, down by 9.7% as compared to the second half of October-2024.
Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2024

1. According to trade statistics of Vietnam Customs, in October of 2024, a 5.2% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of September 2024. Exports went up 4.6 %, to USD 35.64 billion and imports increased 5.8%, to USD 33.60 billion in terms of month-on-month basis. As a result, there was a USD 2.03 billion surplus in Vietnam’s trade balance in this month.

Latest News

Vietnamese fisheries sector navigating headwinds in US market

Vietnamese fisheries sector navigating headwinds in US market

Vietnam's fisheries exporters stand at a critical juncture in the US market, facing a complex landscape of potential opportunities and significant challenges in the coming years.
CPTPP, UKVFTA to boost UK - Vietnam trade relations

CPTPP, UKVFTA to boost UK - Vietnam trade relations

Together with the UK - Vietnam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Vietnam, affirmed British Ambassador to Vietnam Iain Frew.
Hai Phong creates breakthroughs in FDI attraction

Hai Phong creates breakthroughs in FDI attraction

The northern port city of Hai Phong has emerged as a leader in foreign direct investment (FDI) attraction, showcasing a robust portfolio of environmentally friendly projects.
Incentive mechanisms needed for semiconductor industry: PM

Incentive mechanisms needed for semiconductor industry: PM

Prime Minister Pham Minh Chinh, Head of the National Steering Committee for Semiconductor Industry Development, urged the development of incentive mechanisms and policies to promote the development of the semiconductor industry, while chairing the first meeting of the committee in Hanoi on December 14 morning.

More News

Logistics service businesses transform digitally to reduce costs

Logistics service businesses transform digitally to reduce costs

VCN - 4.0 technology application has enabled businesses to lower logistics costs by an average of 23% compared to traditional methods and shorten the order processing time by an average of 35% thanks to automation.
Necessary conditions for operating a "natural flavor" business

Necessary conditions for operating a "natural flavor" business

VCN - Businesses following the sustainable development trend have shown high adaptability and resilience to negative changes from the outside. Preparing to enter 2025, "profit-oriented" business will be gradually replaced by "natural flavor" business.
Garment industry urged to gain self-sufficiency in raw materials for UK expansion

Garment industry urged to gain self-sufficiency in raw materials for UK expansion

Vietnam’s garment and textile industry needs to develop a closed-loop supply chain with a focus on obtaining self-sufficiency in raw materials in order to meet the rules of origin under the UK – Vietnam Free Trade Agreement (UKVFTA) for expanding exports to this market.
Shrimp exports expected to hit 4 billion USD in 2024

Shrimp exports expected to hit 4 billion USD in 2024

With double-digit growth in key markets, Vietnam's shrimp exports are projected to rake in 4 billion USD in 2024, according to insiders.
B2C e-commerce market in bloom

B2C e-commerce market in bloom

Vietnam’s B2C e-commerce market in 2024 has experienced growth of 18-20% in the first ten months of 2024.
Promoting Vietnam - Poland trade through new maritime routes

Promoting Vietnam - Poland trade through new maritime routes

VCN - Vietnam-Poland trade and investment cooperation is expected to develop strongly in the coming time thanks to new maritime connections among the two countries that are about to be launched.
MoIT sets export growth at 6% in 2025

MoIT sets export growth at 6% in 2025

The recovery of major markets such as the US and EU will be an important driving force for exports, especially in electronics, consumer goods and textiles, the MoIT said.
Vietnam's first logistics park opens in Lang Son

Vietnam's first logistics park opens in Lang Son

The Viettel Lang Son Logistics Park, the first of its kind in Vietnam, officially opened in Cao Loc district, the northern mountainous province of Lang Son, on December 11.
Vietnam’s coffee exports possibly top 5 billion USD for first time

Vietnam’s coffee exports possibly top 5 billion USD for first time

Coffee prices have increased by over 50% on average this year, enabling the export revenue to potentially surpass 5 billion USD for the first time.
Read More

Your care

Latest Most read
Vietnamese fisheries sector navigating headwinds in US market

Vietnamese fisheries sector navigating headwinds in US market

Vietnam's fisheries exporters stand at a critical juncture in the US market, facing a complex landscape of potential opportunities and significant challenges in the coming years.
CPTPP, UKVFTA to boost UK - Vietnam trade relations

CPTPP, UKVFTA to boost UK - Vietnam trade relations

Together with the UK - Vietnam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Vietnam, affirmed British Ambassador to Vietnam Iain Frew.
Hai Phong creates breakthroughs in FDI attraction

Hai Phong creates breakthroughs in FDI attraction

The northern port city of Hai Phong has emerged as a leader in foreign direct investment (FDI) attraction, showcasing a robust portfolio of environmentally friendly projects.
Incentive mechanisms needed for semiconductor industry: PM

Incentive mechanisms needed for semiconductor industry: PM

Prime Minister Pham Minh Chinh, Head of the National Steering Committee for Semiconductor Industry Development, urged the development of incentive mechanisms and policies to promote the development of the semiconductor industry, while chairing the first meeting of the committee in Hanoi on December 14 morning.
Logistics service businesses transform digitally to reduce costs

Logistics service businesses transform digitally to reduce costs

4.0 technology application has enabled businesses to lower logistics costs by an average of 23% compared to traditional methods and shorten the order processing time by an average of 35% thanks to automation.
Mobile Version