In the first quarter of 2024, computer and electronic component exports continue to lead

At the end of the first quarter of 2024, computers and electronic components continued to overtake phones, leading the industry with the largest export turnover, with 15.7 billion USD, an increase of 30.3% over the same period.

Computer and electronic component exports grew by more than 30%, bringing in 15.7 billion USD in the first quarter of 2024.

The data on import and export of goods in the first quarter of 2024 that the General Statistics Office just announced on the morning of March 29 continued to record bright spots in trade activities.

In March 2024 alone, the export turnover of goods is estimated at 65.09 billion USD, up 35.6% over the previous month and up 12% over the same period last year.

In the first quarter of 2024, the total export turnover of goods is estimated at 93.06 billion USD, up 17% over the same period last year. Of which, the domestic economic sector reached 25.21 billion USD, up 26.2%, export; the foreign-invested sector (including crude oil) reached 67.85 billion USD, up 13.9%, accounting for 72.9%.

Thus, compared to the same period last year, exports in the first quarter of 2024 increased by 13.46 billion USD. (In the first quarter of last year, exports reached 79.6 billion USD, down 11.6% compared to the first quarter of 2022)

In the first quarter of 2024, the country had 16 items with export turnover of over 1 billion USD, accounting for 82.1% of total export turnover, of which 3 items reached over 10 billion USD, including electronics, computers and components; phones and components; machinery, equipment and spare parts.

Export orders recovered, electronics, computers and components continued to lead the industry with large export turnover, with nearly 15.7 billion USD.

Last year, this item brought in a turnover of 57.34 billion USD, an increase of 3.3%, while phones ranked second with 53.2 billion USD, a decrease of 8% compared to the previous year.

Value of some export items in the first quarter of 2024

	Estimate (Million USD)	Speed increase compared to Same period last year (%)
Items worth over 5 billion USD
Electronics, computers and components	15,693	30.3
Phones and accessories	14,713	9.7
Machinery, equipment, tools and other spare parts	10,876	10.2
Textile, sewing	7,757	7.9

Regarding the import and export market of goods in the first quarter of 2024, the United States is Vietnam's largest export market with an estimated turnover of 26.2 billion USD, up 26%, the EU 12.1 billion USD, up 16.3%, China 12.7 billion USD, up 5.2%, ASEAN 8.9 billion USD, up 9.5%, Japan 5.7 billion USD, up 6.4%, South Korea 6.6 billion USD, up 12.9% over the same period last year.

In terms of imports, China is Vietnam's largest import market with an estimated turnover of 29.4 billion USD, up 24.4%, South Korea 12.8 billion USD, up 4.3%, ASEAN 11.1 billion USD, up 9.8% over the same period.

The trade balance with some markets recorded a large trade surplus in the first quarter of 2024, with the United States estimated at 22.7 billion USD, up 27.9%, and the trade surplus with the EU estimated at 8.2 billion USD, up 15.8%.

However, the trade surplus with Japan was 50 million USD, down 27.7%; while the trade deficit with China was 16.7 billion USD, up 44.4%; the trade deficit with South Korea was 6.2 billion USD, down 3.5%; and the trade deficit with ASEAN was 2.2 billion USD, up 10.9%.

Exports increased more strongly than imports in the first quarter of the year, helping the trade balance of goods to reach an estimated trade surplus of 8.08 billion USD (in the same period last year, the trade surplus was 4.93 billion USD). Of which, the domestic economic sector had a trade deficit of 4.49 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 12.57 billion USD.

Source