From the beginning of the year until June 15, 2024, the total value of Vietnam’s import and export goods reached 336.48 billion USD. Of this, export value reached 172.78 billion USD, and import value reached 163.71 billion USD. With this result, Vietnam had a trade surplus of 9.07 billion USD.
Geographical Location of Vietnam’s Trade
Trade Balance
According to the latest data from the General Department of Customs, in the first half of June 2024 (from June 1 to June 15, 2024), the total value of Vietnam’s import and export goods reached 31.13 billion USD, down 4.9% (equivalent to a decrease of 1.61 billion USD) compared to the second half of May 2024. This result brought the total import-export value for the country until June 15, 2024, to 336.48 billion USD, an increase of 16.2% (equivalent to an increase of 46.81 billion USD) compared to the same period in 2023. Among that, the total import-export value of foreign direct investment (FDI) enterprises reached 227.06 billion USD, up 13.7% (equivalent to an increase of 27.42 billion USD).
Exports
In the first half of June 2024, Vietnam reached 15.73 billion USD in exports, a decrease of 10.4% (equivalent to a decrease of 1.83 billion USD) compared to the second half of May 2024. Some export items that decreased sharply include mobile phones and components (down 18.1%), machinery, equipment, tools, and spare parts (down 12.7%), iron and steel (down 45.2%), and transport vehicles and spare parts (down 21.2%).
Export Performance
From the beginning of the year until June 15, 2024, the total value of Vietnam’s exports reached 172.78 billion USD, an increase of 15.2% (equivalent to an increase of 22.78 billion USD) compared to the same period in 2023. Some export items with significant increases include computers, electronic products, and components (up 30.4%), machinery, tools, and spare parts (up 16.3%), mobile phones and components (up 11.4%), and cameras, camcorders, and components (up 55%).
FDI Exports
According to data from the General Department of Customs, FDI enterprises’ exports in the first half of June 2024 reached 11.31 billion USD, down 10.7% (equivalent to a decrease of 1.35 billion USD) compared to the second half of May 2024. From the beginning of the year to June 15, 2024, the total export value of FDI enterprises reached 123.45 billion USD, an increase of 13.2% (equivalent to an increase of 14.42 billion USD) compared to the same period last year, accounting for 72% of the country’s total export value.
Imports
On the other hand, in the first half of June 2024, the import value of goods in Vietnam reached 15.4 billion USD, an increase of 1.5% (equivalent to an increase of 221 million USD) compared to the second half of May 2024. Some import items that increased significantly include computers, electronic products, and components (up 14.1%) and animal feed and ingredients (up 37.1%).
Import Performance
From the beginning of the year until June 15, 2024, the total import value of the country reached 163.71 billion USD, an increase of 17.2% (equivalent to an increase of 24.03 billion USD) compared to the same period in 2023. Some import items that increased sharply include computers, electronic products, and components (up 27%), machinery, equipment, tools, and spare parts (up 14.8%), and iron and steel (up 27.3%).
FDI Imports
According to data from the General Department of Customs, FDI enterprises’ imports in the first half of June 2024 reached 9.93 billion USD, an increase of 2.6% (equivalent to an increase of 249 million USD) compared to the second half of May 2024. From the beginning of the year until June 15, 2024, the total import value of FDI enterprises reached 103.61 billion USD, an increase of 14.3% (equivalent to an increase of 13 billion USD) compared to the same period in 2023, accounting for 63.3% of the country’s total import value.
Trade Balance
With these results, in the first half of June 2024, the trade balance of goods showed a surplus of 327 million USD. From the beginning of the year until June 15, 2024, the trade balance showed a surplus of 9.07 billion USD.
