EXPORTS AND IMPORTS OF GOODS EXCEED $550 BILLION

Apr 25, 2024

Việt Nam's export and import turnover of goods exceeded the mark of US$550 billion after 10 months of this year.

Data newly released by the General Statistics Office showed that Việt Nam's export and import turnover of goods surpassed the mark of US$550 billion after 10 months of this year.

 

Specifically, merchandise export turnover in the past month was estimated to reach $32.31 billion, up 5.3 percent compared to the previous month.

 

Of this, the domestic economic sector reached $8.49 billion, an increase of 5.7 percent; the foreign-invested sector (including crude oil) reached $23.82 billion, up 5.2 percent.

 

Compared to the same period last year, the export turnover of goods for this month rose by 5.9 percent, of which the domestic economic sector increased by 15.1 percent, and the foreign-invested sector (including crude oil) grew by 3 percent.

 

In the first 10 months of 2023, merchandise export turnover was estimated to reach $291.28 billion, down 7.1 percent over the same period last year.

 

Of this, the domestic economic sector reached $77.09 billion, down 4.1 percent, accounting for 26.5 percent of the total export turnover; the foreign-invested sector (including crude oil) reached $214.19 billion, down 8.1 percent, accounting for 73.5 percent.

 

Conversely, the import turnover of goods in October was estimated to reach $29.31 billion, up 2.9 percent compared to the previous month.

 

Of this, the domestic economic sector reached $10.36 billion, up 3.7 percent; the foreign investment sector reached $18.95 billion, up 2.4 percent.

 

Compared to the same period last year, import turnover for the month rose by 5.2 percent, of which the domestic economic sector increased by 8.5 percent; the foreign-invested sector grew by 3.5 percent.

 

In the first 10 months of this year, the import turnover of goods was estimated to reach $266.67 billion, down 12.3 percent over the same period last year.

 

Of this, the domestic economic sector reached $95.08 billion, down 10.3 percent; the foreign-invested sector reached $171.59 billion, down 13.3 percent.

 

Regarding the export and import market of goods over the 10 months, the US was Việt Nam's largest export market with an estimated turnover of $78.6 billion. China was Việt Nam's largest import market with an estimated turnover of $89.8 billion.

 

The trade balance of goods in October was estimated to have a surplus of $3 billion. Overall, the trade balance of goods was estimated to have a surplus of $24.61 billion for the first 10 months of this year, whereas the same period last year saw a trade surplus of $9.56 billion.

 

Of this, the domestic economic sector's trade deficit was $17.99 billion; the foreign-invested sector (including crude oil) had a trade surplus of $42.6 billion. 

 

Source: VietnamNews

 

 

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