Import and export of goods in 10 months exceeds 550 billion USD

According to statistics, Vietnam's import and export turnover of goods after 10 months of 2023 has exceeded the 550 billion USD mark. Specifically, the export turnover of goods in October 2023 is estimated at 32.31 billion USD, up 5.3% over the previous month.

Of which, the domestic economic sector reached 8.49 billion USD, up 5.7%; the foreign-invested sector (including crude oil) reached 23.82 billion USD, up 5.2%. Compared to the same period last year, the export turnover of goods in October 2023 increased by 5.9%, of which the domestic economic sector increased by 15.1%, the foreign-invested sector (including crude oil) increased by 3%.

In the first 10 months of 2023, the total export turnover of goods is estimated at 291.28 billion USD, down 7.1% over the same period last year.

In the first 10 months of 2023, there were 33 items with export turnover of over 1 billion USD, accounting for 92.9% of total export turnover (there were 07 items with export turnover of over 10 billion USD, accounting for 66.2%). Regarding the structure of export groups in the first 10 months of 2023, the group of fuel and minerals is estimated at 3.44 billion USD, accounting for 1.2%; the group of processed industrial products is estimated at 257.42 billion USD, accounting for 88.3%; the group of agricultural and forestry products is estimated at 22.97 billion USD, accounting for 7.9%; the group of aquatic products is estimated at 7.45 billion USD, accounting for 2.6%.

On the other hand, the import turnover of goods in October 2023 is estimated at 29.31 billion USD, up 2.9% over the previous month. Of which, the domestic economic sector reached 10.36 billion USD, up 3.7%; the foreign-invested sector reached 18.95 billion USD, up 2.4%. Compared to the same period last year, the import turnover of goods in October 2023 increased by 5.2%, of which the domestic economic sector increased by 8.5%; the foreign-invested sector increased by 3.5%.

In the first 10 months of 2023, the total import turnover of goods is estimated at 266.67 billion USD, down 12.3% over the same period last year, of which the domestic economic sector reached 95.08 billion USD, down 10.3%; the foreign-invested sector reached 171.59 billion USD, down 13.3%.

In the first 10 months of 2023, there were 41 imported items with a value of over 1 billion USD, accounting for 91.4% of total import turnover (there were 03 imported items with a value of over 10 billion USD, accounting for 43.4%).

Regarding the structure of imported goods in the first 10 months of 2023, the group of production materials is estimated at 250.12 billion USD, accounting for 93.8%, of which the group of machinery, equipment, tools and spare parts accounts for 45.5%; the group of raw materials, fuels and materials accounts for 48.3%. The group of consumer goods is estimated at 16.55 billion USD, accounting for 6.2%.

Regarding the import and export market of goods in the first 10 months of 2023, the United States is Vietnam's largest export market with an estimated turnover of 78.6 billion USD. China is Vietnam's largest import market with an estimated turnover of 89.8 billion USD.

In the first 10 months of 2023, the trade surplus with the US is estimated at 67.1 billion USD, down 17.2% over the same period last year; the trade surplus with the EU is estimated at 23.7 billion USD, down 12.4%; the trade surplus with Japan is 1.6 billion USD (in the same period last year, the trade surplus was 317 million USD); the trade deficit with China is 40.5 billion USD, down 23.4%; the trade deficit with South Korea is 23.4 billion USD, down 27.6%; the trade deficit with ASEAN is 6.5 billion USD, down 38.2%.

The trade balance of goods in October 2023 is estimated to have a trade surplus of 3 billion USD. In the first 10 months of 2023, the trade balance of goods is estimated to have a trade surplus of 24.61 billion USD (the same period last year had a trade surplus of 9.56 billion USD). Of which, the domestic economic sector had a trade deficit of 17.99 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 42.6 billion USD./.

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