According to the report of the Import-Export Department ( Ministry of Industry and Trade ), in the first 4 months of 2024, the total value of Vietnam's import and export of goods reached nearly 239 billion USD, an increase of 15.1%, equivalent to an increase of 31.4 billion USD over the same period last year.
Of which, exports reached 124 billion USD, up 15.1% and imports reached 115 billion USD, up 15.1%. In the first 4 months, the trade balance continued to record a surplus of 9 billion USD. The indicators can be considered to have had very positive growth in the first 4 months of the year, clearly showing the recovery trend of import and export activities.
In the first 5 months of 2024, exports are estimated to reach 156.5 billion USD, up 15% over the same period last year.
Some positive points in import-export activities can be mentioned as follows: first, both the foreign-invested enterprise sector and the 100% domestic-owned enterprise sector recorded good growth in export turnover.
Of which, the group of domestic enterprises had a higher growth rate (up 22.8% over the same period last year, higher than the growth rate of 12.4% of the group of enterprises with foreign investment capital).
Second, the export of agricultural and aquatic products achieved high growth (25.7% over the same period last year). Of which, aquatic products reached 2.7 billion USD, up 5.8%; vegetables and fruits reached 1.9 billion USD, up 38.1%, coffee reached 2.5 billion USD, up 53.4%; especially rice, although only increased 9.5% in volume, the recorded turnover increased 33.6%, reflecting the favorable price level in the market.
Export of agricultural products - a strength of domestic enterprises - has contributed to the positive growth of this business sector.
Third, key industrial export items continued to recover well: Wood and wood products reached 4.9 billion USD, up 25%; textiles and garments reached 10.4 billion USD, up 6.7%; footwear reached 6.6 billion USD, up 7.2%; iron and steel of all kinds reached 3.2 billion USD, up 28.1%; computers, electronic products and components reached 21.5 billion USD, up 33.9%; phones of all kinds and components reached 18.1 billion USD, up 5%.
Fourth, exports to most market areas grew well, especially markets that have signed Free Trade Agreements (FTAs) with Vietnam.
Specifically, exports to ASEAN increased by 10.5%; to Japan by 3.3%, to South Korea by 8.6%, to the EU by 15.1%, and to Australia by 22.6%. Over the past year, Vietnam has upgraded its comprehensive strategic partnership with two major partners, China and the United States.
Of which, trade is considered an important pillar. Exports to China in the first four months of the year reached 17 billion USD, up 12.8%; to the United States reached 34.7 billion USD, up 21.2%.
Fifth, imports meet production needs. The proportion of imported goods continues to remain high (88.8%) in total import turnover.
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