Crude oil was the export item that saw the largest decline.

According to data released on September 11th by the General Department of Customs, in the second half of August 2024 (August 16th - August 31st), Vietnam's total merchandise export turnover was US$20.7 billion, an increase of 13.1% compared to the same period last year.

In the latter half of August, Vietnam recorded an additional export value of footwear worth over one billion USD, reaching $1.08 billion, a 21.2% increase compared to the same period last year.

In addition, computers, electronic products and components continued to be the highest-value export item with $3.73 billion, a 28.6% increase compared to the same period last year; followed by machinery, equipment, tools and other spare parts with $2.68 billion, a 28.8% increase compared to the same period last year.

Crude oil was the export commodity that experienced the largest decline in the second half of August 2024. Photo: Trang Nhi

Vietnam also exported telephones and components worth $2.47 billion, down 9.1% year-on-year, and was the only item in the billion-dollar group to experience a decline in export value during the period. Textile and garment exports also brought in $2.19 billion, up 15.4% year-on-year.

Of the 45 main export items in the second half of August 2024, Vietnam saw a decrease in export value for 13 items compared to the same period last year, while 32 items increased in value. Crude oil experienced the largest decrease, down 73% compared to the same period last year, reaching $28 million; coal also saw a significant drop of 66.8%, to $5 million.

Conversely, fruit and vegetable exports increased by 72% compared to the same period last year, making it the fastest-growing item, reaching $492 million.

In the agricultural and aquatic products group, Vietnam also recorded a 42.3% increase in coffee exports compared to the same period last year, reaching US$201 million. This was followed by tea, up 39.6% year-on-year, reaching US$16.2 million; pepper, up 26.2% year-on-year, reaching US$57.2 million; and cashew exports, up 13.3% year-on-year, reaching US$218 million. Aquatic product exports also increased by 10.1% year-on-year, reaching US$540 million.

In contrast to the growth trend, rice exports decreased by 6% compared to the same period last year, reaching only $263 million; exports of cassava and cassava products decreased by 31% compared to the same period last year, reaching only $44 million.

Total exports of agricultural and aquatic products reached US$1.83 billion, an increase of 21.1% compared to US$1.51 billion in the same period last year, and accounted for 8.8% of Vietnam's total merchandise exports in the second half of August.

Conversely, in the second half of August 2024, Vietnam spent $17.2 billion importing goods from other countries, an increase of 14.5% compared to the same period last year.

Two items with billion-dollar import values ​​were computers, electronic products and components, reaching $4.87 billion, a 14.3% increase compared to the same period last year; and machinery, equipment, tools, and other spare parts, reaching $2.27 billion, a 23.9% increase compared to the same period last year. The total import value of these two items reached $7.14 billion, accounting for 41.5% of Vietnam's total merchandise imports in the second half of August 2024 (August 16 - August 31).

In the raw materials and fuel group, Vietnam spent $256 million to import crude oil, an increase of 80% compared to the same period; conversely, gasoline and diesel imports decreased by 52%, to $215 million.

Vietnam imported fabrics worth $646 million, a 10% increase compared to the same period last year; textile and footwear raw materials and accessories worth $323 million, a 17% increase compared to the same period last year; and textile fibers worth $144 million, a 52% increase compared to the same period last year.

Vietnam also spent $539 million importing raw plastic materials, an increase of 14.7% compared to the same period; and imported plastic products worth $394 million, an increase of 8.5% compared to the previous year.

In the second half of August 2024, Vietnam spent $731 million importing agricultural and aquatic products, a decrease of 4.8% compared to the same period last year. Corn was the highest-valued import item at $233 million, a 38% increase year-on-year. This was followed by cashew nuts at $141 million, a 16.7% decrease year-on-year; fruits and vegetables at $118 million, a 14.3% increase year-on-year; and seafood at $116 million, a 12.6% decrease year-on-year.

Wheat imports recorded a sharp decline of 43.3% compared to the same period last year, reaching $52 million; soybean imports decreased by as much as 66.8% compared to the same period last year, reaching $17.2 million. However, imports of milk and dairy products increased by 7.6% compared to the same period last year, reaching $52 million.

Of the 53 main imported items in the second half of August 2024, 12 items recorded a decrease in value compared to the same period last year, while 41 items increased in value. Liquefied petroleum gas (LPG) was the item with the highest growth rate, at 255% compared to the same period last year...

Source: https://congthuong.vn/dau-tho-la-mat-hang-xuat-khau-co-muc-giam-lon-nhat-345417.html