Import-export turnover reaches $113,9 billion in the first 2 months of 2024

This marks an 18,6% increase from the previous year, with exports rising by 19.2%; and imports by 18%, representing significant growth in the country’s economy.

The trade balance of goods in the first 2 months is estimated to have a trade surplus of 4,72 billion USD (the same period last year had a trade surplus of 3,5 billion USD).

Particularly, the domestic economic sector has a trade deficit was 3.53 billion USD, the foreign invested sector (including crude oil) had a trade surplus of 8,25 billion USD.

The United States is Vietnam's largest export market with a turnover of approximately 17,4 billion USD. In contrast, China is Vietnam's largest import market with an estimated turnover of 20,9 billion USD.

Import turnover of goods is estimated at 23,72 billion USD, down 23,2% over the previous month and up 1.8% over the same period last year.

The import turnover of goods in the first 2 months of 2024 is estimated to reach 54,62 billion USD, up 18% over the same period last year. Particularly, this growth was driven by the domestic economic sector, which reached 19,67 billion USD, marking a 27,4% increase, while the foreign investment sector reached 34,95 billion USD, representing a 13,3% increase. 

In addition, merchandise export turnover is estimated at 24,82 billion USD, down 28,1% over the previous month and 5% from the same period last year.

The total merchandise export turnover in the first 2 months of 2024 is projected to increase to 59,34 billion USD, up 19.2% over the same period last year. Of which, the domestic economic sector reached 16,14 billion USD, an increase of 33,3%, accounting for 27,2% of total export turnover. The foreign invested sector (including crude oil) reached 43,2 billion USD, marking a 14,7% increase, accounting for 72,8%.