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Vietnam's trade surplus is 8.01 billion USD in the first 5 months of 2024

Overall, in the first 5 months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.01 billion USD, while in the same period last year the trade surplus was 10.2 billion USD...


Vietnam's trade surplus

According to data just announced by the General Statistics Office, in May 2024, the total import and export turnover of goods is estimated to reach 66.62 billion USD, up 9.1% over the previous month, up 22.6%. compared to the same period last year.


In the first 5 months of 2024, the total import and export turnover of goods reached 305.53 billion USD, an increase of 16.6% over the same period last year. Of which exports increased by 15.2%, imports increased by 18.2%. The trade balance of goods had a surplus of 8.01 billion USD.


Export and import of goods in the first 5 months of 2024

Regarding exports, preliminary turnover in April 2024 reached 31.1 billion USD, 113 million USD higher than the estimate.


Merchandise export turnover in May 2024 is estimated to reach 32.81 billion USD, up 5.7% compared to the previous month. Of which, the domestic economic sector reached 9.37 billion USD (up 2.7%), the foreign invested sector (including crude oil) reached 23.44 billion USD (up 6.9%).


Compared to the same period last year, export turnover in May 2024 increased by 15.8%. Of which, the domestic economic sector increased by 13%, the foreign invested sector (including crude oil) increased by 17%.


In the first 5 months of 2024, merchandise export turnover is estimated to reach 156.77 billion USD, up 15.2% over the same period last year. The domestic economic sector reached 43.69 billion USD, an increase of 20.5%, accounting for 27.9% of total export turnover. The foreign investment sector (including crude oil) reached 113.08 billion USD, an increase of 13.3%, accounting for 72.1%.


Vietnam has 26 items with export turnover of over 1 billion USD, accounting for 90% of total export turnover (there are 7 export items with export turnover of over 5 billion USD, accounting for 65.3%).


Specifically, the structure of fuel and mineral products is estimated at 2.06 billion USD, accounting for 1.3%; The group of processed industrial goods is estimated at 137.39 billion USD, accounting for 87.7%; Agricultural and forestry products are estimated at 13.82 billion USD, accounting for 8.8%; The seafood group is estimated to reach 3.5 billion USD, accounting for 2.2%.


Regarding imports, the preliminary turnover in April 2024 reached 29.99 billion USD, 273 million USD lower than the estimate.


Import turnover of goods in May 2024 is estimated at 33.81 billion USD, up 12.8% compared to the previous month. Of which, the domestic economic sector reached 12.81 billion USD, an increase of 11.2%; The foreign investment sector reached 21.0 billion USD, an increase of 13.7%.


Compared to the same period last year, import turnover increased by 29.9%. The domestic economic sector increased by 38.2%, the foreign invested sector increased by 25.3%.


In the first 5 months of 2024, import turnover is estimated at 148.76 billion USD, up 18.2% over the same period last year. The domestic economic sector reached 54.95 billion USD, an increase of 24.2%; The foreign investment sector reached 93.81 billion USD, an increase of 14.9%.


Of these, there are 27 imported items worth over 1 billion USD, accounting for 84.5% of total import turnover (there are 4 imported items worth over 5 billion USD, accounting for 47.0%).


Accordingly, the structure of the capital goods group is estimated at 139.89 billion USD, accounting for 94%, of which the group of machinery, equipment, tools and spare parts accounts for 45.7%; The group of raw materials, fuel, and materials accounts for 48.3%. The consumer goods group is estimated to reach 8.87 billion USD, accounting for 6%.


Regarding export and import markets, the United States is Vietnam's largest export market with an estimated turnover of 44 billion USD. China is Vietnam's largest import market with an estimated turnover of 54.9 billion USD.


Vietnam's trade surplus

In the first 5 months of 2024, trade surplus to the United States is estimated to reach 38.1 billion USD, up 24.2% over the same period last year; Trade surplus to the EU is estimated at 14.3 billion USD, up 18.4%; Trade surplus to Japan was 290 million USD, down 61.8%; Trade deficit from China is 32.3 billion USD, up 55.9%; Trade deficit from Korea 11.1 billion USD, up 1.3%; Trade deficit from ASEAN was 4.2 billion USD, up 39.1%.

(thuonggiaonline.vn)


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