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Vietnam spent 380 billion USD on importing goods in 2024 

 Friday, January 24,2025

AsemconnectVietnam - In 2024, the total import turnover of goods of the whole country reached 380.76 billion USD, an increase of 16.7% (equivalent to an increase of 54.41 billion USD), according to statistics of the General Department of Customs.

Notably, in terms of import markets, China has a huge advantage. In 2024, the import turnover of goods from this country alone reached 144.02 billion USD, a sharp increase of 30.2% (equivalent to an increase of 33.39 billion USD) compared to the previous year.
The Chinese market alone accounted for 38% of the total import turnover of the whole country. In 2024, all 5 largest groups of goods imported from China increased very strongly.
Specifically, computers, electronic products and components reached 34.59 billion USD, up by 47.7% (equivalent to an increase of 11.17 billion USD); machinery, equipment, tools and spare parts reached 28.96 billion USD, up by 28.7%; raw materials for the textile, garment and footwear industry reached 15.59 billion USD, up by 22.3%; phones of all kinds and components reached 9.05 billion USD, up by 24%; iron and steel of all kinds reached 7.49 billion USD, up by 32.5%.
Thus, the above 5 groups of goods alone had a turnover of up to 95.67 billion USD, accounting for 66% of Vietnam's total import turnover from the Chinese market.
South Korea was the second largest import market for Vietnam with 55.93 billion USD, up by 6.6% (equivalent to an increase of 3.46 billion USD) compared to the previous year.
The largest import group from the South Korea was computers, electronic products and components with 31.89 billion USD, up by 10.9%.
The ASEAN bloc was the third largest import market with 47.06 billion USD, up by 15% (equivalent to an increase of 6.15 billion USD) compared to the previous year.
Of which, imports of computers, electronic products and components reached 8.01 billion USD, up by 0.8%; petroleum of all kinds reached 4.75 billion USD, up by 11.4); machinery, equipment, tools and other spare parts reached 2.94 billion USD, up by 13.3%.
The other big import markets were Taiwan (China) reaching 22.74 billion USD, up by 23.5%; Japan reaching 21.59 billion USD, down by 0.2%; EU reached 16.73 billion USD, up by 12%; and the US reached 15.1 billion USD, up by 9.3%.
For the first time, spending more than 100 billion USD to import computers
Regarding imported goods, the group of computers, electronic products and components continued to maintain its leading position.
In particular, in 2024, the imports of this group of goods exceeded 100 billion USD for the first time (reaching 107.05 billion USD), up by 21.7% (equivalent to an increase of 19.09 billion USD) compared to the previous year.
In which, the import turnover of FDI was 97.49 billion USD, up by 21.3% (equivalent to an increase of 17.09 billion USD) and domestic enterprises was 9.6 billion USD, up by 26.3% (equivalent to an increase of nearly 2 billion USD).
Vietnam mainly imports this group of goods from the following markets: China with 34.59 billion USD, up by 47.7%; South Korea with 31.89 billion USD, up by 10.9%; Taiwan (China) with 13.86 billion USD, up by 36.1%.
The group of machinery, equipment, tools and spare parts ranked second with 48.89 billion USD, up by 17.6% over the previous year (equivalent to an increase of 7.31 billion USD). This is also the year that recorded a record import turnover of this group of goods.
China was the largest market supplying machinery, equipment, tools and spare parts to Vietnam with 28.96 billion USD, up 28.7%; followed by South Korea with 5.26 billion USD, down by 3.2%; Japan with 4.01 billion USD approximately in 2023.
Other major import groups were fabric reached 26.37 billion USD; iron and steel reached 19.65 billion USD; plastic raw materials reached 17.58 billion USD.
In general, import groups all had high growth compared to 2023, especially key groups.
CK
Source: VITIC/haiquanonline.com.vn

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