Import and export of goods increased by 17.37 billion USD

According to the latest data from the General Department of Customs, the total import-export value of the whole country in the first two months of the year reached 113.43 billion USD, an increase of 18.1%, equivalent to an increase of 17.37 billion USD over the same period in 2023.

Xuất nhập khẩu hàng hóa tăng 17,37 tỷ USD

Trade balance of goods in the first two months of the year had a surplus of 5 billion USD

Specifically, the total value of Vietnam's import and export of goods in the second period of February 2024 (from February 16 to February 29, 2024) reached 28.41 billion USD, an increase of 46.7% (equivalent to an increase of 9.05 billion USD) compared to the results in the first period of February 2024 (from February 1 to February 15, 2024). With the above results, in the second period of February 2024, the trade balance of goods had a surplus of 1.05 billion USD.

The results achieved in the second half of February 2024 brought the total import-export value of the whole country in the first two months of the year to 113.43 billion USD, an increase of 18.1%, equivalent to an increase of 17.37 billion USD over the same period in 2023. Of which, the total import-export value of FDI enterprises in the first two months of the year reached 78.08 billion USD, an increase of 14.5% (equivalent to an increase of 9.88 billion USD) over the same period last year; the total import-export value of domestic enterprises was 35.35 billion USD, an increase of 26.9% (equivalent to an increase of 7.49 billion USD) over the same period last year. The trade balance of goods in the first two months of the year had a surplus of 5 billion USD.

Regarding exports: The total value of Vietnam's export goods in the second period of February 2024 reached 14.73 billion USD, an increase of 48.2% (equivalent to an increase of 4.79 billion USD in absolute terms) compared to the first period of February 2024.

Export value in the second period of February 2024 increased compared to the first period of February 2024 in some commodity groups: Computers, electronic products and components increased by 934 million USD (equivalent to an increase of 50.2%); phones of all kinds and components increased by 768 million USD (equivalent to an increase of 48.4%); machinery, equipment, tools and other spare parts increased by 588 million USD (equivalent to an increase of 49.8%); textiles and garments increased by 104 million USD (equivalent to an increase of 10.9%); footwear of all kinds increased by 178 million USD (equivalent to an increase of 35.5%); means of transport and spare parts increased by 219 million USD (equivalent to an increase of 61.4%); iron and steel of all kinds increased by 238 million USD (equivalent to an increase of 93.3%); coffee increased by 125 million USD (equivalent to an increase of 62%)...

Chart 1: Export value of some major commodity groups in the first period of February 2024 and the second period of February 2024

Source: General Department of Customs

Thus, in the first two months of the year, Vietnam's total export value reached 59.21 billion USD, up 19% over the same period last year, equivalent to an increase of 9.45 billion USD over the same period last year.

Statistics from the General Department of Customs also show that the export value of goods of foreign direct investment (FDI) enterprises in the second period of February 2024 reached 10.85 billion USD, an increase of 48.1%, equivalent to an increase of 3.53 billion USD compared to the first period of the month, thereby raising the total export value of goods in the first 2 months of the year of this group of enterprises to 43.04 billion USD, an increase of 15.3% (equivalent to an increase of 5.7 billion USD) compared to the same period last year, accounting for 72.7% of the total export value of the whole country.

Regarding imports: The total value of imported goods of Vietnam in the second period of February 2024 reached 13.68 billion USD, an increase of 45.2% (equivalent to an increase of 4.26 billion USD in absolute numbers) compared to the results in the first period of February 2024.

The import value of goods in the second period of February 2024 increased compared to the first period of February 2023, mainly in some commodity groups: Computers, electronic products and components increased by 1.37 billion USD (equivalent to an increase of 49.3%); machinery, equipment, tools and spare parts increased by 522 million USD (equivalent to an increase of 51%); iron and steel of all kinds increased by 203 million USD (equivalent to an increase of 65.4%); fabrics of all kinds increased by 183 million USD (equivalent to an increase of 60.5%); plastic raw materials increased by 231 million USD (equivalent to an increase of 116.7%)...

Chart 2: Import value of some major commodity groups in the first period of February 2024 compared to the second period of February 2024

Source: General Department of Customs

Thus, in the first two months of the year, the total import value of the whole country reached 54.21 billion USD, up 17.1%, equivalent to an increase of 7.59 billion USD over the same period last year. Of which, the import value of goods of FDI enterprises in this period was 9.02 billion USD, up 45.9% (equivalent to an increase of 2.84 billion USD) compared to the first period of February 2024. In the first two months of the year, the total import value of this group of enterprises reached 35.03 billion USD, up 13.5% (equivalent to an increase of 4.18 billion USD) over the same period last year, accounting for 64.6% of the total import value of the whole country.

Source link