According to the data from The General Statistics Office, amidst the complex global situation, Vietnam showed initial signs of improvement in import-export activities in the first quarter of 2024. Below are the main points:
- Export
The export turnover of goods reached $93.06 billion, up 17% over the same period last year. Specifically, the domestic economic sector reached $25.21 billion, up 26.2%, while the foreign-invested sector reached $67.85 billion, up 13.9%.
Export turnover to major markets is showing positive recovery and achieving high growth. Firstly, the United States is the largest export market with an estimated turnover of $26.2 billion, accounting for 28.2% of the country’s total export turnover and increasing by 26% compared to the same period last year. Next is China with an estimated $12.7 billion, up 5.2%; The EU market with an estimated $12.1 billion, up 16.3%; ASEAN with an estimated $8.9 billion, up 9.5%; South Korea with an estimated $6.6 billion, up 12.9%; Japan with an estimated $5.7 billion, up 6.4%.
- Import
The import turnover of goods reached $84.98 billion, up 13.9% compared to the same period last year. Specifically, the domestic economic sector reached $29.7 billion, an increase of 14.4%, while the foreign- investment sector reached $55.28 billion, up 13.6%.
Vietnam’s major import markets all increased in the first quarter of 2024. China is Vietnam’s largest import market with an estimated turnover of $29.4 billion, accounting for 34.6% of the country’s total import turnover and increasing by 24.4% compared to the same period last year. Next is South Korea with an estimated $12.8 billion, up 4.3%; The ASEAN market with an estimated $11.1 billion, up 9.8%; Japan with an estimated $5.6 billion, up 6.8%; EU with an estimated $3.9 billion, up $17.3 billion; The United States with an estimated $3.5 billion, up 14.8%.
- Overview
Overall, the total export-import turnover reached $178.04 billion, up 15.5% compared to the same period last year. Specifically, exports increased by 17%, while imports increased by 13.9%. The trade balance is estimated at a trade surplus of $8.08 billion. According to statistics, in the first quarter of 2024, the results are very positive, but it is still necessary to closely monitor the situation to timely respond to potential difficulties and challenges.
