AsemconnectVietnam - According to the General Statistics Office, in the 11 months of 2023, the total import-export turnover of goods of Vietnam was estimated to reach 619.17 billion USD; the trade surplus was 25.83 billion USD.

Specifically, in November, the total import-export turnover of goods was estimated at 60.88 billion USD, up by 5.9% over the same period last year. In the first 11 months of 2023, the total import-export turnover of goods was estimated to reach 619.17 billion USD, down by 8.3% over the same period last year. The trade balance of goods in the 11 months of 2023 was estimated to reach the trade surplus of 25.83 billion USD.
Regarding the exports of goods, the export turnover of goods in November of 2023 was estimated to reach 31.08 billion USD, up by 6.7% over the same period last year. The export turnover of the domestic economic sector reached 8.49 billion USD, an increase of 13.5%; while the export turnover of the foreign invested sector (including crude oil) reached 22.59 billion USD, an increase of 4.4%. This was a very positive bright spot when the growth rate of the domestic business sector was 3 times higher than the foreign invested sector.
In the first 11 months of 2023, merchandise export turnover was estimated to reach 322.50 billion USD, down by 5.9% over the same period last year. Although export turnover still decreased compared to the same period last year, the decrease in export growth has narrowed significantly compared to the decrease of 11.6% in the first 6 months of 2023.
In the first 11 months of 2023, there were 33 items with export turnover of over 1 billion USD, accounting for 93.1% of total export turnover (there were 07 export items with export turnover of over 10 billion USD, accounting for 66%). Many key export products had positive growth rates compared to the same period last year.
Notably, agricultural products continued to make impressive contributions, being a bright spot in the country's export activities, in which many agricultural products increased in both value and quantity compared to the previous month, such as rice reached 462 million USD, up by 13.5%; rubber reached 343 million USD, up by 16.6%; coffee reached 252 million USD, an increase of 59.9%. In the first 11 months of 2023, Vietnam exported nearly 7.8 million tonnes of rice; 2.7 million tonnes of cassava and cassava products; 1.9 million tonnes of rubber; 1.4 million tonnes of coffee.
Thus, the export turnover of agricultural and aquatic products in November was estimated to reach 3 billion USD, up by 26.7% over the same period last year. This was also the only product group to record positive growth in the first 11 months of 2023, with export turnover estimated at 29.5 billion USD, an increase of 8.6%.
In the opposite direction, Vietnam’s goods imports in November of 2023 were estimated to reach 29.8 billion USD, up by 1% compared to the previous month. In the first 11 months of 2023, the country’s import turnover was estimated to reach 296.67 billion USD, down by 10.7% over the same period last year. In particular, in the first 11 months of 2023, the group of capital goods still accounted for 93.8% of total import turnover.
Because the imports decreased more strongly than exports (exports decreased by 5.9%, imports decreased by 10.7%), Vietnam's trade balance in 11 months continued to have a trade surplus of 25.83 billion USD. In the same period last year's trade surplus was 10.3 billion USD).
Regarding the import and export market of goods in the 11 months of 2023, the United States was Vietnam's largest export market with an estimated turnover of 88 billion USD. China was Vietnam's largest import market with an estimated turnover of 99.6 billion USD. In the first 11 months of 2023, trade surplus to the United States was estimated to reach 75.5 billion USD, down by 14.1% over the same period last year; trade surplus to the EU was estimated at 26.2 billion USD, down by 11.1%; trade surplus to Japan was 1.5 billion USD, up by 127.2%; trade deficit from China was 43.7 billion USD, down by 23.1%; trade deficit from South Korea was 26.3 billion USD, down by 25.4%; trade deficit from ASEAN was 8.1 billion USD, down by 31.3%.
The Ministry of Industry and Trade will promote negotiations and sign new agreements, commitments, and trade associations, including completing and implementing the FTA Agreement with Israel, signing FTA Agreements, and Trade Agreements with other potential partners (UAE, MERCOSUR, etc.) to diversify markets, products, and supply chains.
At the same time, the ministry will also support businesses to take advantage of commitments in FTA Agreements, especially CPTPP, EVFTA, UKVFTA Agreements to promote exports, through propaganda on rules of origin and issuance of Export Certificates of origin, opportunities and ways to take advantage of opportunities from the Agreements.
CK
Source: VITIC/congthuong.vn