AsemconnectVietnam - In the first 9 months of 2024, Vietnam's trade balance of goods reached a trade surplus of 20.79 billion USD, down by 0.53% compared to the trade surplus of 20.9 billion USD in the same period of 2023; of which the domestic economic sector had a trade deficit of 17.38 billion USD; the foreign-invested sector had a trade surplus of 38.17 billion USD.

In the first 9 months of 2024, service exports were estimated at 17.4 billion USD, up by 18.8% over the same period last year; service imports were estimated at 26.6 billion USD, up by 26.8% over the same period last year, and the service trade deficit in the first 9 months of 2024 was 9.2 billion USD.
In 2023, the trade balance of goods had a trade surplus of 27.78 billion USD, contributing significantly to GDP growth of 5.05%. For import and export activities in 2024 to contribute to GDP growth higher than the previous year's increase, the trade balance for the whole year of 2024 must have a trade surplus exceeding the previous year's level of 27.78 billion USD.
Vietnam's largest trade surplus markets in the first 9 months of 2024
In the first 9 months of 2024, Vietnam's trade surplus with the US market reached the highest level, followed by the EU and Japanese markets.
According to the report of the Ministry of Industry and Trade, with the recovery of the world market and increased export orders, our country's import and export activities in the first 9 months of 2024 have improved and achieved positive results.
In September of 2024, the total preliminary import and export turnover of goods reached 65.81 billion USD, although down by 8% compared to the previous month, it still increased by 10.9% compared to the same period last year.
In the first 9 months, the total preliminary import-export turnover of goods reached 578.47 billion USD, up by 16.3% over the same period last year (down by 11% over the same period last year), of which exports increased by 15.4% (down by 8.2% over the same period last year); while imports increased by 17.3% (down by 13.9% over the same period last year). The trade balance of goods had a surplus of 20.79 billion USD.
Notably, exports continued to grow strongly and evenly in all 3 groups of goods. Specifically, the preliminary export turnover of the agricultural, forestry and fishery group reached 28.8 billion USD, up by 21.9% over the same period of 2023, accounting for 9.6% of the total export turnover of the country.
The preliminary export turnover of the processed and manufactured industrial goods group reached 253.9 billion USD, accounting for 84.7% of the total export turnover and increasing by 15.2% over the same period of 2023 (in the same period in 2023 it decreased by 9.6%). The export turnover of the mineral fuel group in the first 9 months was estimated at 3.1 billion USD, an increase of 3% over the same period of 2023. Regarding the market, in the first 9 months of 2024, the export turnover to most markets and major trading partners of our country has recovered positively and achieved high growth. In particular, the United States was Vietnam's largest export market with an estimated turnover of 89.4 billion USD, accounting for 29.8% of the total export turnover of the country and increasing by 27.4% over the same period last year (in the same period of 2023 it decreased by 17.6%). The next was the Chinese market, estimated at 43.56 billion USD, a slight increase of 0.1% over the same period last year (in the same period of 2023 it increased by 2%); the EU market was estimated at 38.1 billion USD, an increase of 17% over the same period last year (in same period of 2023 it decreased by 8.2%); South Korea was estimated at 18.9 billion USD, an increase of 7% (in same period of 2023 it decreased by 5.1%); Japan was estimated at 18 billion USD, an increase of 4.7% (in same period of 2023 it decreased by 3%).
On the other hand, in terms of the goods import market, China was still Vietnam's largest import market with a preliminary turnover of 105 billion USD, accounting for nearly 38% of the total import turnover of the country and increasing by 32.5% over the same period last year (in same period of 2023 it decreased by 13.6%); followed by South Korea with an estimated 41.46 billion USD, up by 8.2% (down by 20.1% in the same period in 2023); ASEAN with 33.8 billion USD, up by 12.3% (down by 14.5% in the same period in 2023); Japan with 16 billion USD, up by 2.4%; EU with 12.2 billion USD, up by 9.8%; US with 10.9 billion USD, up by 6.2%.
The trade balance in September of 2024 continued to have a surplus of about 2.29 billion USD, bringing our country's total trade surplus in the first 9 months of 2024 to about 20.79 billion USD (in the same period last year, the trade surplus was 22.1 billion USD). By market region, the trade surplus to the US was estimated at 78.5 billion USD, up be 31% over the same period last year; the trade surplus to the EU was estimated at 25.9 billion USD, up by 20.8%; the trade surplus with Japan was estimated at 1.9 billion USD, up by 28.8%.
CK
Source: VITIC/congthuong.vn