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Vietnam - Indonesia trade exchange in February and first 2 months of 2024 

 Friday, March 29,2024

AsemconnectVietnam - According to the preliminary statistics figures from the General Department of Customs, the two-way trade between Vietnam and Indonesia in the first 2 months of 2024 reached 2.32 billion USD, an increase of 17.9% over the same period of 2023.

Of which, Vietnam's export of goods to the Indonesian market in the first 2 months of 2024 reached 1.05 billion USD, an increase of 39% over the same period last year, while goods from Indonesia imported into Vietnam reached nearly 1.26 billion USD in the first 2 months of 2024, a slight increase of 4.5% compared to the first 2 months of 2023.
The exports of Vietnam's main products to Singapore in February and the first 2 months of 2024
Vietnam's exports of goods to the Indonesian market in February of 2024 reached 482.2 million USD, down by 14.2% compared to the previous month. Overall, the country’s exports of goods to Indonesia in the first 2 months of 2024 reached 1.05 billion USD, up by 39% over the same period last year.
In the first 2 months of 2024, rice products led the export turnover to the Indonesian market, reaching 141.6 million USD, an increase of 110.5% over the same period last year, accounting for 13.4% of the export proportion. The next was plastic raw materials reaching 93.6 million USD, an increase of 67.6%, accounting for 8.8% of the proportion.
In the first 2 months of 2024, a number of products have increased export turnover compared to the same period last year: coffee increased by 235.4%; chemicals increased by 212.9%; seafood products increased by 82%; rubber increased by 40.3%; machinery, equipment and spare parts increased by 45.9%.
In 2023, the two-way trade turnover between Vietnam and Indonesia reached nearly 3.5 billion USD, of which, Vietnam's exports to Indonesia reached 976 million USD, an increase of 14.6%, and Vietnam's imports from Indonesia reached 2.5 billion USD, down by 38.9% compared to 2022, mainly due to a sharp decrease in our raw material imports from Indonesia.
Imports of goods from Indonesia in February and the first 2 months of 2024
Vietnam’s imports of goods from Indonesia reached nearly 1.26 billion USD in the first 2 months of 2024, a slight increase of 4.5% compared to the first 2 months of 2023. Particularly in February of 2024, the turnover decreased by 22% compared to January of 2024, reaching over 552.31 million USD and down by 13.1% compared to the same month of 2023.
The imports of goods from the Indonesian market accounted for 2.3% of the country's total import turnover of goods. In the first 2 months of 2024, coal product group ranked first in import turnover from Indonesia, reaching over 300.95 million USD, accounting for 23.9% of the total import turnover of all types of goods from this market, a sharp increase of 75% 9% compared to the first 2 months of 2023.
The group of iron and steel products imported from Indonesia ranked second in turnover, reaching 165.26 million USD, accounting for 13.1% of the total turnover, a slight increase of 0.8%. The next was the metal goods group with 117.73 million USD, accounting for 9.3% of the total turnover, an increase of 20.2%; completely built cars of all types reached 99.67 million USD, accounting for 7.9%, down by 34.6%.
CK
Source: VITIC

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