Import and export set a record of over 786 billion USD

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Import and export set a record of over 786 billion USD

The result of 50.53 billion USD achieved in December brought Vietnam’s total import-export turnover for the whole year of 2024 to a record 786.29 billion USD, up 15.4% over the same period in 2023; of which exports reached 405.53 billion USD, up 14.3%, imports 380.76 billion USD, up 16.7% …

According to data released by the General Statistics Office on January 6, in December 2024, the total import and export turnover of goods reached 70.53 billion USD, up 6.2% over the previous month and up 15.9% over the same period last year.

In the whole year of 2024, the total import and export turnover of goods reached 786.29 billion USD, up 15.4% over the previous year, of which exports increased by 14.3%; imports increased by 16.7%. The trade balance of goods had a surplus of 24.77 billion USD.

Specifically, the export turnover of goods in December 2024 reached 35.53 billion USD, up 5.3% over the previous month. Of which, the domestic economic sector reached 10.68 billion USD, up 8.5%; the foreign-invested sector (including crude oil) reached 24.85 billion USD, up 4.0%.

Compared to the same period last year, the export turnover of goods in December 2024 increased by 12.8%, of which the domestic economic sector increased by 17.6%, the foreign-invested sector (including crude oil) increased by 10.9%.

In the fourth quarter of 2024, the export turnover reached 105.9 billion USD, up 11.5% over the same period last year and down 2.5% compared to the third quarter of 2024.

In 2024, the total export turnover of goods reached 405.53 billion USD, an increase of 14.3% over the previous year. Of which, the domestic economic sector reached 114.59 billion USD, an increase of 19.8%, accounting for 28.3% of total export turnover; the foreign-invested sector (including crude oil) reached 290.94 billion USD, an increase of 12.3%, accounting for 71.7%.

In 2024, there were 37 items with an export turnover of over 1 billion USD, accounting for 94.3% of total export turnover (there were 8 items with an export turnover of over 10 billion USD, accounting for 69.0%).

Regarding the structure of export goods in 2024, the preliminary group of fuel and mineral goods reached 4.24 billion USD, accounting for 1.0%; the group of processed industrial goods reached 356.74 billion USD, accounting for 88.0%; Agricultural and forestry products reached 34.51 billion USD, accounting for 8.5%; aquatic products reached 10.04 billion USD, accounting for 2.5%.

On the other hand, the import turnover of goods in December 2024 reached 35.01 billion USD, up 7.2% over the previous month. Of which, the domestic economic sector reached 14.0 billion USD, up 13.1%; the foreign-invested sector reached 21.01 billion USD, up 3.5%.

Compared to the same period last year, the import turnover of goods in December 2024 increased by 19.2%, of which the domestic economic sector increased by 27.7%; the foreign-invested sector increased by 14.2%.

In the fourth quarter of 2024, the import turnover reached 101.9 billion USD, up 14.9% over the same period last year and up 2.2% over the third quarter of 2024.

In 2024, the total import turnover of goods reached 380.76 billion USD, up 16.7% over the previous year, of which the domestic economic sector reached 140.11 billion USD, up 19.5%; the foreign-invested sector reached 240.65 billion USD, up 15.1%.

In 2024, there were 46 imported goods with a value of over 1 billion USD, accounting for 93.1% of the total import turnover (there were 6 imported goods with a value of over 10 billion USD, accounting for 54.0%).

Regarding the structure of imported goods in 2024, the preliminary import value of production materials reached 356.43 billion USD, accounting for 93.6%, of which the group of machinery, equipment, tools and spare parts accounted for 47.4%; the group of raw materials, fuels and materials accounted for 46.2%. Consumer goods group reached 24.33 billion USD, accounting for 6.4%.

Regarding the import and export market of goods in 2024, the United States is Vietnam’s largest export market with a turnover of 119.6 billion USD. China is Vietnam’s largest import market with a turnover of 144.3 billion USD.

In 2024, the trade surplus with the United States will reach 104.6 billion USD, up 25.6% over the previous year; the trade surplus with the EU will be 35.4 billion USD, up 23.2%; the trade surplus with Japan will be 3.2 billion USD, up 91.9%; the trade deficit with China will be 83.7 billion USD, up 69.5%; the trade deficit with South Korea will be 30.7 billion USD, up 5.9%; the trade deficit with ASEAN will be 9.9 billion USD, up 18.9%.

With the above results, the trade balance of goods in December had a trade surplus of 0.52 billion USD. For the whole year of 2024, the trade balance of goods had a trade surplus of 24.77 billion USD (the previous year had a trade surplus of 28.4 billion USD). Of which, the domestic economic sector had a trade deficit of 25.52 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 50.29 billion USD.