According to the Thai Binh Statistics Office, the province's export value for the first nine months of 2024 was estimated at 2.2964 billion USD, up 14.22% (equivalent to 286 million USD) compared to the same period last year. The garment industry continues to lead the province’s exports, accounting for 47.9% of the total export value.

There are 318 businesses in Thai Binh participating in export activities, an increase of 12.76% compared to the same period last year, equivalent to 35 additional businesses, mainly focusing on electronics and footwear industries.

Based on export value by product categories, Asia remains the largest export market, estimated at 1.2699 billion USD, an increase of 16.89% compared to the same period last year, accounting for 55.3% of the total export value.

Several key export markets include South Korea, estimated at 350.7 million USD, up 4.36% year-on-year; and Japan at 321.4 million USD, up 10.06%. Additionally, some markets saw significant growth, such as Hong Kong (China), estimated at 194.6 million USD, up 26.28%, and Laos at 417,000 USD, up 17.69%. Meanwhile, the European market was estimated at 245 million USD, and the Americas at 676 million USD.

As for the province’s import value, it was estimated at 1.3862 billion USD for the first nine months of 2024, an increase of 5.49% (equivalent to 72 million USD) compared to the same period last year. Some of the factors driving the rise in import value include the fact that imports are mainly raw materials for production, which are entirely dependent on export orders.

Certain categories experienced increases in import value compared to the same period last year, such as seafood, estimated at 2.8 million USD, up 17.51%; fibers and yarns of all kinds, estimated at 95 million USD, up 14.84%; fabrics, estimated at 433.9 million USD, up 6.44%; raw materials for textiles, garments, and footwear, estimated at 288 million USD, up 11.43%; and other goods, estimated at 212.5 million USD, up 33.26%. Asia remains the largest import market, estimated at 1.169 billion USD, up 10.3% compared to the same period last year, accounting for 84.34% of the total import value; the European market was estimated at 57.7 million USD, and the Americas at 53 million USD.

Building on the growth momentum of the first nine months of 2024, from now until the end of the year, the Thai Binh Department of Industry and Trade will continue to coordinate and support businesses with market information, export promotion, and effectively leverage the free trade agreements signed to explore and expand markets, reduce product inventory. Additionally, the department will intensify support for the application of e-commerce in businesses, and the main export sectors, expand consumption of domestic goods, and promote e-commerce for key products from each locality.