April 2024 trade surplus decreased sharply

According to data just released by the General Statistics Office, the export turnover of goods in April 2024 is estimated at 30.94 billion USD; the import turnover of goods is estimated at 30.26 billion USD, so the estimated trade surplus in April is only 0.68 billion USD.

Import and export of goods in the first 4 months of 2024

In April, the total import and export turnover of goods was estimated at 61.20 billion USD, down 5.2% compared to the previous month and up 15% compared to the same period last year. In the first four months of 2024, the total import and export turnover of goods reached 238.88 billion USD, up 15.2% over the same period last year, of which exports increased by 15%; imports increased by 15.4%. The trade balance of goods had a surplus of 8.4 billion USD.

Specifically, regarding goods exports, the preliminary export turnover in March 2024 reached 33.66 billion USD, 351 million USD lower than the estimated number.

The export turnover of goods in April 2024 is estimated at 30.94 billion USD, down 8.1% compared to the previous month. Compared to the same period last year, the export turnover of goods in April increased by 10.6%, of which the domestic economic sector increased by 11.8%, the foreign-invested sector (including crude oil) increased by 10.1%.

In the first four months of 2024, the total export turnover of goods is estimated at 123.64 billion USD, up 15% over the same period last year. Of which, 21 items achieved an export turnover of over 1 billion USD, accounting for 86.4% of the total export turnover. The group of processed industrial goods contributed the most to the export structure, estimated at 108.27 billion USD and accounting for 87.5%.

Regarding goods imports, the preliminary import turnover of goods in March 2024 reached 30.88 billion USD, 199 million USD lower than the estimated figure. The import turnover of goods in April 2024 is estimated at 30.26 billion USD, down 2% compared to the previous month. Compared to the same period last year, the import turnover of goods in April increased by 19.9%.

In the first four months of 2024, the total import turnover of goods is estimated at 115.24 billion USD, up 15.4% over the same period last year, of which the domestic economic sector reached 41.86 billion USD, up 19.7%; the foreign-invested sector reached 73.38 billion USD, up 13.1%.

Main import and export markets of goods in the first 4 months of 2024

Regarding the import and export market of goods in the first four months of 2024, the United States is Vietnam's largest export market with an estimated turnover of 34.1 billion USD. China is Vietnam's largest import market with an estimated turnover of 41.6 billion USD. In the first four months of 2024, the trade surplus with the United States is estimated at 29.6 billion USD, up 21.6% over the same period last year; the trade surplus with the EU is estimated at 11.4 billion USD, up 16.7%; the trade surplus with Japan is 209 million USD, down 41.8%; the trade deficit with China is 23.6 billion USD, up 41.4%; the trade deficit with South Korea is 8.7 billion USD, up 2.3%; the trade deficit with ASEAN is 3.6 billion USD, up 47.1%.

The preliminary trade balance of goods in March showed a trade surplus of 2.78 billion USD (previously estimated trade surplus in March was 2.93 billion USD); the first quarter had a trade surplus of 7.72 billion USD; April had an estimated trade surplus of 0.68 billion USD. In the first four months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.4 billion USD (in the same period last year, there was a trade surplus of 7.66 billion USD). Of which, the domestic economic sector had a trade deficit of 8.24 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 16.64 billion USD.

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