The total import-export value of the whole country as of the first half of November reached over 681 billion USD, an increase of 15.7% over the same period last year.
According to information from the General Department of Customs, the latest preliminary statistics of the General Department of Customs show that the total value of Vietnam’s import and export of goods in the first period of November 2024 (from November 1 to November 15, 2024) reached 33.44 billion USD, down 9.7% (equivalent to a decrease of 3.58 billion USD) compared to the results in the second half of October 2024.
The results achieved in the first half of November 2024 brought the total import-export value of the whole country up to November 15, 2024 to 681.48 billion USD, an increase of 15.7%, equivalent to an increase of 92.28 billion USD in absolute terms compared to the same period in 2023.
Of which, the total import-export value of enterprises with foreign direct investment (FDI) reached 461.33 billion USD, up 14% (equivalent to an increase of 56.74 billion USD).
In the first period of November 2024, the trade balance of goods had a surplus of 31 million USD. From the beginning of the year to November 15, 2024, the trade balance of goods had a surplus of 23.28 billion USD.
Regarding exports, the total value of Vietnam’s exported goods in the first period of November 2024 reached 16.73 billion USD. The export value in the first period of November 2024 decreased compared to the second period of October 2024 in the following commodity groups: Machinery, equipment, tools and spare parts decreased by 577 million USD, equivalent to a decrease of 20%; phones of all kinds and components decreased by 365 million USD, equivalent to a decrease of 14.4%; computers, electronic products and components decreased by 261 million USD, equivalent to a decrease of 7.8%;…
Thus, by November 15, 2024, Vietnam’s total export value will reach 352.38 billion USD, an increase of 14.8%, equivalent to an increase of 45.54 billion USD over the same period in 2023.
Of which, some commodity groups increased such as: Computers, electronic products and components increased by 12.79 billion USD, equivalent to an increase of 26.1%; machinery, equipment, tools and spare parts increased by 8.08 billion USD, equivalent to an increase of 21.7%; textiles increased by 3.07 billion USD, equivalent to an increase of 10.6%; wood and wood products increased by 2.46 billion USD, equivalent to an increase of 21.4%; phones of all kinds and components increased by 2.25 billion USD, equivalent to an increase of 4.8%… compared to the same period in 2023.
Statistics from the General Department of Customs also show that the export value of goods of foreign direct investment (FDI) enterprises in the first period of November 2024 reached 12.04 billion USD, down 12.9%, equivalent to a decrease of 1.79 billion USD compared to the second period of October 2024. As of November 15, 2024, the total export value of goods of this group of enterprises reached 252.17 billion USD, up 13%, equivalent to an increase of 28.94 billion USD compared to the same period last year, accounting for 72% of the total export value of the country.
Regarding imports, the total value of Vietnam’s imported goods in the first period of November 2024 reached 16.7 billion USD, down 5.3%. By the end of November 15, 2024, the total import value of the whole country reached 329.1 billion USD, up 16.6% (equivalent to an increase of 46.74 billion USD) compared to the same period in 2023.
Of which, some commodity groups increased sharply such as: computers, electronic products & components increased by 17.21 billion USD, equivalent to an increase of 22.7%; machinery, equipment, tools and spare parts increased by 6.17 billion USD, equivalent to an increase of 17.2%; iron and steel of all kinds increased by 2.01 billion USD, equivalent to an increase of 22.4%; other base metals increased by 1.64 billion USD, equivalent to an increase of 1.64 billion USD; phones of all kinds and components increased by 1.37 billion USD, equivalent to an increase of 18%… compared to the same period in 2023.
The import value of goods of FDI enterprises in this period reached 10.43 billion USD, down 5.8% (equivalent to a decrease of 643 million USD) compared to the second period of October 2024. As of November 15, 2024, the total import value of this group of enterprises reached 209.16 billion USD, up 15.3% (equivalent to an increase of 27.79 billion USD) compared to the same period in 2023, accounting for 63.6% of the total import value of the whole country.
To produce orders in time for the last quarter of the year, especially before New Year’s Eve, Lunar New Year and orders in early 2025, many businesses are accelerating production, recruiting more workers, and arranging overtime.
Although risks in the global market are still unpredictable, geopolitical conflicts directly affect the supply chain, and shipping rates remain high, there is still room for growth in year-end exports.
Year-end consumption demand in major markets such as the US and EU will be an important driving force for exports, especially in the fields of electronics, consumer goods, textiles, etc. From there, import-export turnover is forecast to reach 800 billion USD, far exceeding the record import-export level of 732 billion USD in 2023.