11 months, exports recorded high growth compared to many countries in the ASEAN region

Export turnover of goods in 11 months reached 369.93 billion USD, up 14.4% over the same period last year, a high increase compared to many countries in ASEAN and Asia.

According to the report of the Ministry of Industry and Trade on the implementation of Resolution No. 01/NQ-CP, the situation of industrial production and trade activities in November and 11 months of 2024, the preliminary export turnover of goods in November 2024 reached 33.73 billion USD, down 5.3% compared to the previous month.

In the first 11 months of 2024, the total import-export turnover of goods reached 715.55 billion USD, an increase of 15.4%. (Photo: MH)

In the first 11 months of 2024, the preliminary export turnover of goods reached 369.93 billion USD, up 14.4% over the same period last year, a high increase compared to many countries in the ASEAN region and Asia.

Of which, the domestic economic sector reached 103.88 billion USD, up 20%, accounting for 28.1% of total export turnover; the foreign-invested sector (including crude oil) reached 266.05 billion USD, up 12.4%, accounting for 71.9%. This shows that the export of the domestic economic sector continued to grow higher than the FDI sector (20% compared to 12.4%) and the proportion of export turnover of this sector in the total export turnover of the whole country was higher than the same period last year (28% compared to 26.8%), continuing to show positive signals in the export activities of this sector.

In the 11 months of 2024, there were 36 items with export turnover of over 1 billion USD (in the same period last year, there were only 33 items), accounting for 94.1% of total export turnover (there were 7 items with export turnover of over 10 billion USD, accounting for 66.5%).

In the first 11 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 export turnover of the agricultural, forestry and fishery group is estimated at 35.5 billion USD, up 20.6% 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 46.2%; coffee increased by 35.4%; rice increased by 22.3%; tea of ​​all kinds increased by 26.9%; vegetables and fruits increased by 27.4%; rice increased by 22.3%; cashew nuts increased by 20.6%; rubber increased by 17.8% ...

Export turnover of processed industrial products also recovered strongly in the first 11 months of 2024, up 14.3% over the same period last year, initially reaching 313.6 billion USD, accounting for nearly 85% of the country's 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 65.2 billion USD, up 26.3%; phones of all kinds and components reached 50.2 billion USD, up 3.2%; machinery, equipment, tools and other spare parts reached 47.8 billion USD, up 21.6%; textiles and garments reached 33.65 billion USD, up 10.6%; footwear of all kinds reached 20.76 billion USD, up 12.9%; wood and wood products reached 14.7 billion USD, up 21.2%; iron and steel increased 12.7%, reaching 8.5 billion USD...

The export turnover of mineral fuel products is estimated at 3.7 billion USD, down 4.9% over the same period in 2023. This is also the only product group with export turnover decreasing compared to the same period last year.

In the first 11 months of 2024, export turnover to most markets and major trading partners of our country has recovered positively and achieved high growth. In particular, the United States 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 13%); followed by the Chinese market estimated at 55.1 billion USD, down 0.9% over the same period last year (the same period increased by 6%); the EU market is estimated at 47.3 billion USD, up 18.1% over the same period last year (the same period in 2023 decreased by 8%); Korea is estimated at 23.3 billion USD, up 8.7% (the same period in 2023 decreased by 4%); Japan is estimated at 22.3 billion USD, up 4.8% (same period in 2023 decreased 4.3%).

On the other hand, the preliminary import turnover of goods in November 2024 reached 32.67 billion USD, down 2.8% compared to the previous month. In the first 11 months of 2024, the preliminary import turnover of goods reached 345.62 billion USD, up 16.4% over the same period last year, of which the domestic economic sector reached 126.05 billion USD, up 18.5%; the foreign-invested sector reached 219.57 billion USD, up 15.2%.

In the 11 months of 2024, there were 44 imported items with a value of over 1 billion USD, accounting for 92.6% of total import turnover. (There are 5 imported items over 10 billion USD, accounting for 51.4%).

The preliminary trade balance of goods in November had a trade surplus of 1.06 billion USD. In the first 11 months of 2024, the preliminary trade balance of goods had a trade surplus of 24.31 billion USD (the same period last year had a trade surplus of 26.2 billion USD).

Source: https://congthuong.vn/11-thang-xuat-khau-ghi-nhan-muc-tang-cao-so-voi-nhieu-nuoc-trong-khu-vuc-asean-363921.html