With a turnover of 335.59 billion USD, goods exports in the first 10 months of 2024 recorded a fairly high growth rate compared to some leading economies in the Asian region.
This is the information emphasized in the Report on the implementation of Resolution No. 01/NQ-CP, industrial production situation, and trade activities in October and 10 months of 2024 by Ministry of Industry and Trade just announced.
Specifically, according to the report of the Ministry of Industry and Trade, in October, the total turnover import and export of goods Preliminary import-export turnover reached 69.19 billion USD, up 5.1% over the previous month and up 11.8% over the same period last year. In the first 10 months of 2024, the total preliminary import-export turnover of goods reached 647.87 billion USD, up 15.8% over the same period last year, of which exports increased by 14.9%; imports increased by 16.8%. The trade balance of goods had a surplus of 23.31 billion USD.
In which, in 10 months of 2024, the turnover export goods Preliminary reached 335.59 billion USD, up 14.9% over the same period last year. This is a fairly high growth rate compared to some leading economies in the Asia region such as: China increased by 4.3%; South Korea increased by 9.6%; Thailand increased by 3.9% (in the first 9 months of 2024)...
In the first 10 months of 2024, the domestic economic sector reached 93.97 billion USD, up 20.7%, accounting for 28.0% of total export turnover; the foreign-invested sector (including crude oil) reached 241.62 billion USD, up 12.8%, accounting for 72.0%. Thus, the export growth of the domestic economic sector was much higher than that of the foreign-invested sector.
In the first 10 months of 2024, there were 31 items with export turnover of over 1 billion USD, accounting for 92.6% of total export turnover, of which there were 7 items with export turnover of over 10 billion USD, accounting for 66.5% (in the first 10 months of 2023, there were 33 items with export turnover of over 1 billion USD; 07 items with export turnover of over 10 billion USD).
Notably, in the first 10 months of 2024, export turnover of most major commodities achieved positive growth compared to the same period last year due to recovery in demand and the relatively low base level of the same period in 2023.
Of which, the preliminary export turnover of the agricultural, forestry and fishery group in the first 10 months reached 32.2 billion USD, up 21.4% over the same period in 2023, accounting for 9.6% of the country's total export turnover.
In this group, due to the benefit of high prices, the export turnover of some items increased by double digits compared to the same period last year. Of which, the export turnover of pepper increased by 47%; coffee increased by 39%; rice increased by 23%; tea of all kinds increased by 30.3%; vegetables and fruits increased by 27.8%; rice increased by 23.5%; cashew nuts increased by 21.4%; rubber increased by 16.4% ...
Export turnover of processed and manufactured industrial products also recovered strongly in the first 10 months of 2024, up 14.7% over the same period last year, initially reaching 284.4 billion USD, accounting for 84.7% of total export turnover.
In particular, the export turnover of many key products achieved high double-digit growth rates such as: Computers, electronic products and components reached 58.7 billion USD, up 26.1%; phones of all kinds and components reached 46.5 billion USD, up 4.9%; machinery, equipment, tools and spare parts reached 43 billion USD, up 21.5%; textiles and garments reached 30.6 billion USD, up 10.5%; footwear of all kinds reached 18.6 billion USD, up 12.9%; wood and wood products reached 13.2 billion USD, up 21.2%; iron and steel increased 15.1%, reaching nearly 8 billion USD, up 14.7%...
The export turnover of mineral fuel products in the first 10 months is estimated at 3.4 billion USD, down 0.7% over the same period in 2023. This is also the only product group with export turnover decreasing compared to the same period last year.
Regarding the export market of goods in the first 10 months of 2024, export turnover to most markets and major trading partners of our country has had a positive recovery and achieved high growth.
In there, USA is Vietnam's largest export market with an estimated turnover of 98.4 billion USD, accounting for 29.3% of the country's total export turnover and increasing by 24.2% over the same period last year (the same period in 2023 decreased by 15.8%); followed by the Chinese market estimated at 50.8 billion USD, a slight increase of 2.1% over the same period last year; the EU market is estimated at 42.3 billion USD, an increase of 16.4% over the same period last year (the same period in 2023 decreased by 8.9%); South Korea is estimated at 21 billion USD, an increase of 6.9% (the same period in 2023 decreased by 3.6%); Japan is estimated at 20.1 billion USD, an increase of 4.6% (the same period in 2023 decreased by 3%).
Also according to the Ministry of Industry and Trade, with active and synchronous measures to remove difficulties to support domestic production, promote trade, and expand export markets continuing to be strongly implemented, our country's import and export activities in recent times have continued to recover positively, becoming a bright spot of the economy.
Source
Comment (0)