AsemconnectVietnam - According to data just released by the General Statistics Office, in August of 2024, the total preliminary export and import turnover of goods reached 70.65 billion USD, up by 0.8% over the previous month and up by 13.5% over the same period last year.

In the first 8 months of 2024, the total export and import turnover of goods reached 511.11 billion USD, up by 16.7% over the same period last year, of which exports increased by 15.8%; imports increased by 17.7%. The trade balance of goods had a trade surplus of 19.07 billion USD.
Specifically, the export turnover of goods in August of 2024 reached 37.59 billion USD, up by 3.7% over the previous month. Of which, the export turnover of the domestic economic sector reached 10.84 billion USD, up by 9.8%; while the export turnover of the foreign-invested sector (including crude oil) reached 26.75 billion USD, up by 1.5%.
Compared to the same period last year, the export turnover of goods in August of 2024 increased by 14.5%. In the first 8 months of 2024, the export turnover of goods reached 265.09 billion USD, up by 15.8% over the same period last year. Of which, the export turnover of the domestic economic sector reached 73.88 billion USD, up by 21%, accounting for 27.9% of the total export turnover; while the export turnover of the foreign-invested sector (including crude oil) reached 191.21 billion USD, up by 13.9%, accounting for 72.1%.
Notably, in the first 8 months of 2024, there were 30 items with export turnover of over 1 billion USD, accounting for 92.3% of total export turnover (there were 6 items with export turnover of over 10 billion USD, accounting for 62.6%).
In terms of export commodity structure, the exports of fuel and mineral group reached 2.92 billion USD, accounting for 1.1%; the processed industrial goods group reached 233.33 billion USD, accounting for 88%; the agricultural and forestry products group reached 22.53 billion USD, accounting for 8.5%; the aquatic products group reached 6.31 billion USD, accounting for 2.4%.
On the contrary, the import turnover of goods in August of 2024 reached 33.06 billion USD, down by 2.4% compared to the previous month. Of which, the export turnover of the domestic economic sector reached 12 billion USD, up by 1.4%; the export turnover of the foreign-invested sector reached 21.06 billion USD, down by 4.5%. Compared to the same period last year, the import turnover of goods in August of 2024 increased by 12.4%.
In the first 8 months of 2024, the import turnover of goods reached 246.02 billion USD, up by 17.7% over the same period last year, of which the domestic economic sector reached 89.58 billion USD, up by 19.7%; the foreign-invested sector reached 156.44 billion USD, up by 16.5%.
In the first 8 months of 2024, there were 38 imported goods with a value of over 1 billion USD, accounting for 90.8% of the total import turnover (there were 2 imported goods with over 10 billion USD, accounting for 40.7%).
Regarding the structure of imported goods, the leading group was the group of production materials, reaching 230.95 billion USD, accounting for 93.9%, of which the group of machinery, equipment, tools and spare parts accounted for 46.9%; the group of raw materials, fuels and materials accounted for 47%. The group of consumer goods reached 15.07 billion USD, accounting for 6.1%.
Regarding the import and export market of goods in the first 8 months of 2024, the United States continued to be Vietnam's largest export market with an estimated turnover of 77.9 billion USD. China is Vietnam's largest import market with an estimated turnover of 92.3 billion USD.
In the first 8 months of 2024, the trade surplus to the United States was estimated at 68.1 billion USD, up by 28.6% over the same period last year; the trade surplus to the EU was estimated at 23.6 billion USD, up by 22%; the trade surplus to Japan reached 1.7 billion USD, up by 30.5%; the trade deficit with China reached 54.4 billion USD, up by 69.6%; the trade deficit with South Korea reached 20 billion USD, up by 12.1%; and the trade deficit with ASEAN reached 5.8 billion USD, up by 14.8%.
In the first 8 months of 2024, the trade balance of goods had a trade surplus of 19.07 billion USD (the same period last year we had a trade surplus of 19.9 billion USD). Of which, the domestic economic sector had a trade deficit of 15.7 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 34.77 billion USD.
CK
Source: VITIC/ haiquanonline.com.vn