Data from the General Statistics Office shows that the total import-export turnover of goods in the first 4 months of the year reached 238.88 billion USD, up 15.2% over the same period last year. Notably, merchandise exports reached 123.64 billion USD, up 15% over the same period, with trade surplus to some key markets such as the US and EU increasing.
In April 2024 alone, merchandise export turnover is estimated to reach 30.94 billion USD, up 10.6% over the same period last year.
The whole country recorded 21 items with export turnover of over 1 billion USD, accounting for 86.4% of total export turnover, of which, there were 5 export items with export turnover of over 5 billion USD, accounting for 57.8%. Regarding the structure of export goods group, in the first 4 months of 2024, the group of processed industrial goods is estimated to reach 108.27 billion USD, accounting for 87.5%.
The agricultural sector stands out. According to estimates by the Ministry of Agriculture and Rural Development, by the end of April, exports of fruits and vegetables alone were estimated to reach 520 million USD, bringing the total export value of fruits and vegetables in the first 4 months of Vietnam to reach 1.8 billion USD, an increase of more than 32% over the same period last year. Fruit and vegetable exports maintain high growth rates and have many positive changes in the market, while improving processing capacity. The fruit and vegetable industry is expected to set a new export record this year.
Exports to major markets such as the US, EU, and China all grew by double digits. Of which, the United States is Vietnam’s largest export market with an estimated turnover of 34.1 billion USD, an increase of 19.1% over the same period in 2023. Exports to China reached 18 billion USD, an increase of 14.1% over the same period in 2023. 4%; Exports to the EU market reached 16.4 billion USD, up 15%; Exports to the Korean market reached 8.4 billion USD, an increase of 10.2%.
In the opposite direction, the import turnover of goods in April 2024 is estimated at 30.26 billion USD, down 2% over the previous month and up 19.9% over the same period last year. In the first 4 months of 2024, import turnover is estimated to reach 115.24 billion USD, up 15.4% over the same period last year.
In the past 4 months, there were 20 imported items worth over 1 billion USD, accounting for 78.9% of total import turnover, of which, there were 2 imported items worth over 5 billion USD, accounting for 39.4%. . Regarding the structure of imported goods in the first 4 months of 2024, the group of capital goods is estimated to reach 108.33 billion USD, accounting for 94%. China is Vietnam’s largest import market for goods with an estimated turnover of 41.6 billion USD.
Overall, in the first 4 months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.4 billion USD (the same period last year had a trade surplus of 7.66 billion USD).