AsemconnectVietnam - According to the data from the General Statistics Office, in the first 5 months of 2024, the total import-export turnover of goods reached 305.53 billion USD, an increase of 16.6% over the same period last year, of which exports increased by 15.2%; and imports increased by 18.2%.

In the first 5 months of 2024, the trade balance of goods was estimated at a trade surplus of 8.01 billion USD, decreased compared with the trade surplus of 10.2 billion USD in the same period last year.
China was Vietnam's largest import market in the first 5 months of this year.
Vietnam's imports and exports of goods in May of 2024
In May of 2024, Vietnam’s import-export turnover of goods was estimated to reach 66.62 billion USD, up by 9.1% over the previous month and up by 22.6% over the same period last year.
Specifically, the country’s exports of goods in May of 2024 were estimated to reach 32.81 billion USD, an increase of 5.7% compared to the previous month.
In the opposite direction, the import turnover of goods in May of 2024 was estimated to reach 33.81 billion USD, up by 12.8% compared to the previous month.
Vietnam's imports and exports in the first 5 months of 2024
In the first 5 months of 2024, merchandise export turnover was estimated to reach 156.77 billion USD, up by 15.2% over the same period last year. Of which, the export turnover of the domestic economic sector reached 43.69 billion USD, an increase of 20.5%, accounting for 27.9% of total export turnover; while the export turnover of the foreign invested sector (including crude oil) reached 113.08 billion USD, an increase of 13.3%, accounting for 72.1%.
In the first 5 months of 2024, import turnover of goods was estimated to reach 148.76 billion USD, up by 18.2% over the same period last year, of which the exports of the domestic economic sector reached 54.95 billion USD, up by 24.2% over the same period last year, while the exports of the foreign investment sector reached 93.81 billion USD, an increase of 14.9%.
Vietnam's main export and import markets in the first 5 months of 2024
Regarding the export and import market of goods in the first 5 months of 2024, the United States was Vietnam's largest export market with an estimated turnover of 44.0 billion USD. China was Vietnam's largest import market with an estimated turnover of 54.9 billion USD.
In the first 5 months of 2024, trade surplus to the United States was estimated to reach 38.1 billion USD, up by 24.2% over the same period last year; the trade surplus to the EU was estimated at 14.3 billion USD, up by 18.4%; the trade surplus to Japan was 290 million USD, down by 61.8%; the trade deficit from China was 32.3 billion USD, up by 55.9%; the trade deficit from South Korea reached 11.1 billion USD, up by 1.3%; and the trade deficit from ASEAN was 4.2 billion USD, up by 39.1%.
In May 2024, the country’s trade deficit was estimated at 1 billion USD. Overall, for the first 5 months of 2024, the trade balance of goods was estimated to have a trade surplus of 8.01 billion USD (the same period last year we had a trade surplus of 10.2 billion USD). Of which, the domestic economic sector's trade deficit was 11.26 billion USD; and the foreign invested sector (including crude oil) had a trade surplus of 19.27 billion USD.
CK
Source: VITIC/congthuong.vn