Manufacturing News 08/05/2024, 03:02

Vietnam's trade performance in April 2024: $61.20 billion in turnover

According to the General Statistics Office, the trade turnover of goods in April 2024 was estimated at $61.20 billion, a decrease of 5.2% from the previous month but an increase of 15% compared to the same period last year.

Vietnam's trade performance in April 2024: $61.20 billion in turnover

For the first four months of 2024, the total trade turnover reached $238.88 billion, up 15.2% year-on-year, with exports increasing by 15% and imports by 15.4%.

In April 2024, exports were estimated at $30.94 billion, down 8.1% from the previous month. The domestic sector reached $8.73 billion, a decrease of 6%, while the foreign-invested sector (including crude oil) reached $22.21 billion, down 8.9%.

Compared to the same period last year, April's export turnover increased by 10.6%, with the domestic sector up 11.8% and the foreign-invested sector up 10.1%.

For the first four months of 2024, export turnover was estimated at $123.64 billion, up 15% year-on-year. The domestic sector accounted for $33.62 billion, up 21%, making up 27.2% of the total export turnover; the foreign-invested sector reached $90.02 billion, up 12.9%, accounting for 72.8%.

There were 21 export commodities with a turnover exceeding $1 billion, accounting for 86.4% of the total export turnover (with 5 items exceeding $5 billion, accounting for 57.8%).

In terms of export commodity groups in the first four months of 2024, the fuel and minerals group reached $1.73 billion, accounting for 1.4%; the processed industrial group reached $108.27 billion, accounting for 87.5%; the agriculture and forestry group reached $10.96 billion, accounting for 8.9%; and the seafood group reached $2.68 billion, accounting for 2.2%.

On the import side, goods in April 2024 were estimated at $30.26 billion, down 2% from the previous month. The domestic sector reached $11.21 billion, down 3.1%; the foreign-invested sector reached $19.05 billion, down 1.4%.

Compared to the same period last year, import turnover in April 2024 increased by 19.9%, with the domestic sector up 24.2% and the foreign-invested sector up 17.5%.

For the first four months of 2024, import turnover was estimated at $115.24 billion, up 15.4% year-on-year. The domestic sector accounted for $41.86 billion, up 19.7%; the foreign-invested sector reached $73.38 billion, up 13.1%.

There were 20 import commodities with a value exceeding $1 billion, accounting for 78.9% of the total import turnover (with 2 items over $5 billion, accounting for 39.4%).

Regarding the import and export markets in the first four months of 2024, the USA was Vietnam's largest export market with an estimated turnover of $34.1 billion. China was the largest import market with an estimated turnover of $41.6 billion.

In the first four months of 2024, the trade surplus with the USA was estimated at $29.6 billion, up 21.6% year-on-year; with the EU at $11.4 billion, up 16.7%; with Japan at $209 million, down 41.8%; the trade deficit with China was $23.6 billion, up 41.4%; with South Korea at $8.7 billion, up 2.3%; and with ASEAN at $3.6 billion, up 47.1%.

Overall, the trade balance for goods in April 2024 was estimated at a surplus of $0.68 billion. For the first four months of 2024, the trade surplus was estimated at $8.4 billion (compared to a surplus of $7.66 billion in the same period last year). The domestic sector had a trade deficit of $8.24 billion; the foreign-invested sector (including crude oil) had a surplus of $16.64 billion.

VnEconomy / Translator: Hoàng Giang
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