AsemconnectVietnam - In the first 5 months of 2024, Vietnam’s exports of goods were estimated to reach 156.5 billion USD, up by 15% over the same period last year. Notably, the exports to FTA markets have had a positive recovery.

A report from the Import-Export Department (under the Ministry of Industry and Trade) said that in the first 4 months of 2024, Vietnam's total import and export value of goods reached nearly 239 billion USD, an increase of 15.1%, equivalent to an increase of 31. 4 billion USD compared to the same period last year. Of which, exports reached 124 billion USD, an increase of 15.1% and imports reached 115 billion USD, an increase of 15.1%. Overall for 4 months, the trade balance continued to record a surplus of 9 billion USD. The indexes 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.
Some positive points in import-export activities include, first, both the foreign-invested enterprise sector and the 100% domestic-owned enterprise sector recorded good growth in export turnover. Among them, the group of domestic enterprises has a higher growth rate (up by 22.8% over the same period last year, higher than the growth rate of 12.4% of the group of foreign-invested enterprises).
Second, agricultural and aquatic product exports achieved high growth (25.7% over the same period last year). Of which, the exports of seafood reached 2.7 billion USD, an increase of 5.8%; vegetables reached 1.9 billion USD, an increase of 38.1%, coffee reached 2.5 billion USD, an increase of 53.4%, especially rice products, although only increased by 9.5% in volume, the turnover recorded received an increase of 33.6%, reflecting a favorable price level in the market. The exports of agricultural products - which is a strong group of domestic businesses - has contributed to the positive growth of this business sector.
Third, the exports of key industrial products continued to recover well: wood and wood products reached 4.9 billion USD, up by 25%; textiles and garments reached 10.4 billion USD, up by 6.7%; footwear reached 6.6 billion USD, an increase of 7.2%, iron and steel of all kinds reached 3.2 billion USD, an increase of 28.1%; computers, electronic products and components reached 21.5 billion USD, an increase of 33.9%; phones and components reached 18.1 billion USD, an increase of 5%.
Fourth, the exports to most market areas grew well, especially markets that have signed Free Trade Agreements (FTA) with Vietnam, specifically, to ASEAN increased by 10.5%; to Japan increased by 3.3%, Korea increased by 8.6%, EU increased by 15.1%, and to Australia increased by 22.6%. Vietnam upgraded its comprehensive strategic partnership with two major partners, China and the United States. In which trade is considered an important pillar. The exports to China in the first 4 months of the year reached 17 billion USD, up by 12.8%; and to the United States reached 34.7 billion USD, an increase of 21.2%.
Fifth, the imports met production needs. The proportion of imported goods continues to remain high (88.8%) in total import turnover.
CK
Source: VITIC/congthuong.vn