The General Statistics Office pointed out that, in the total export turnover of goods, the domestic economic sector reached 53.39 billion USD, up 20.6%, accounting for 28.1% of the total export turnover; the foreign-invested sector (including crude oil) reached 136.69 billion USD, up 12.3%, accounting for 71.9%.
In June 2024 alone, the export turnover of goods is estimated at 33.09 billion USD, up 2.6% over the previous month and 10.5% over the same period last year. In the second quarter of 2024, the export turnover is estimated at 97.2 billion USD, up 12.5% over the same period last year and 4.6% over the first quarter of 2024.
Regarding the structure of export goods in the first six months of 2024, the processed industrial goods group is estimated to reach 166.79 billion USD, accounting for 87.7%.
Regarding goods imports, the import turnover of goods in June 2024 is estimated at 30.15 billion USD, down 7.9% compared to the previous month and up 13.1% compared to the same period last year. In the second quarter of 2024, the import turnover is estimated at 93.4 billion USD, up 19.8% compared to the same period last year and up 9.7% compared to the first quarter of 2024.
In the first six months of 2024, the total import turnover of goods is estimated at 178.45 billion USD, up 17.0% over the same period last year, of which the domestic economic sector reached 65.74 billion USD, up 22.3%; the foreign-invested sector reached 112.71 billion USD, up 14.1%.
Regarding the structure of imported goods in the first six months of 2024, the group of production materials is estimated at 167.73 billion USD, accounting for 94%.
Regarding the import and export market of goods in the first six months of 2024, the United States is Vietnam's largest export market with an estimated turnover of 54.3 billion USD. China is Vietnam's largest import market with an estimated turnover of 67 billion USD.
The trade balance of goods in June is estimated to have a trade surplus of 2.94 billion USD. In the first six months of 2024, the trade balance of goods is estimated to have a trade surplus of 11.63 billion USD (the same period last year had a trade surplus of 13.44 billion USD); of which, the domestic economic sector had a trade deficit of 12.35 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 23.98 billion USD.
The General Statistics Office also pointed out that in the second quarter of 2024, service export turnover is estimated at 5.5 billion USD, up 17.1% over the same period in 2023 and down 4.6% over the previous quarter; service import turnover is estimated at 8.3 billion USD, up 20.1% and up 6.5%.
In general, in the first 6 months of 2024, service export turnover is estimated at 11.25 billion USD, up 20% over the same period in 2023; of which, tourism services reached 6 billion USD (accounting for 53.1% of total turnover), up 40.1% over the same period last year; transportation services reached 3 billion USD (accounting for 26.8%), up 2%.
In the first 6 months of 2024, service import turnover is estimated at 16.11 billion USD, up 22% over the same period last year, of which transportation services reached 6.9 billion USD (accounting for 42.7% of total turnover), up 18.6%; tourism services reached 4.9 billion USD (accounting for 30.4%), up 52.9%. The service trade deficit in the first 6 months of 2024 was 4.86 billion USD.
To achieve the goals set by the National Assembly for Vietnam's international trade, the General Statistics Office proposes that the Ministry of Industry and Trade continue to improve mechanisms and policies, create a favorable macro environment for goods export; build, amend and supplement economic and trade mechanisms and policies that need to be implemented synchronously and regularly; create a favorable, open and transparent business environment.
In addition, the industry and trade sector develops sustainable exports along with market diversification towards a healthy and reasonable trade balance with partners. In reality, Vietnam is mainly dependent on a number of large export markets. Therefore, when these countries fall into crisis, Vietnam's export activities face major shocks and are interrupted.
Along with that, the industry and trade sector needs to minimize risks caused by trade defense investigations towards sustainable export growth; promote forecasting and early warning for businesses of goods that may be at risk of being investigated; at the same time, implement solutions to prove that Vietnamese goods are not being dumped...
Ms. Dinh Thi Thuy Phuong, Director of the Department of Trade and Service Statistics, General Statistics Office, proposed that it is necessary to diversify solutions to accompany industrial production and export enterprises, stimulate consumption; ensure growth in industrial and trade indicators...; at the same time, enterprises need to take advantage of opportunities brought by FTAs.
At the same time, localities, enterprises, individuals and organizations need to clearly understand market information, consumer demand and taste, import policy mechanisms in markets, especially markets with FTAs. From there, develop a plan to organize the production of goods to meet the requirements of the markets, choose markets suitable to the advantages of the locality, contributing to promoting sustainable export of goods.
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