Import and export make a mark, surpassing 200 billion USD in a quarter for the first time

Import and export have become a bright spot in the economy. By the end of September 2024, there were 31 export groups reaching over 1 billion USD, 7 groups reaching over 10 billion USD.

In the report sent to the Prime Minister on the import-export situation in September and the first 9 months of 2024, the General Department of Customs - Ministry of Finance emphasized: "Import-export has the highest value with many product lines and many markets exceeding the record achieved in the same period in 2022, making import-export a bright spot of the economy".

By the end of September 2024, Vietnam's total import-export value reached nearly 578.5 billion USD, an increase of 16.3% over the same period last year.

Import and export have become a bright spot of the economy. Photo: Hoang Ha

Import and export in the first 9 months of this year increased by nearly 2.4 times, with an increase of 335 billion USD compared to the same period 10 years ago; of which, export increased by nearly 180 billion USD, import increased by 155 billion USD. Compared to the same period 5 years ago, the corresponding increase was 49% (190 billion USD); of which, export increased by 97 billion USD, import increased by 93 billion USD.

Exports and imports in the first 9 months both reached the highest value compared to the same period ever, increasing by 19.42 billion USD and 81.11 billion USD respectively compared to the same period in 2022 and 2023.

Notably, the total import-export value in the third quarter of this year exceeded 200 billion USD/quarter for the first time - reaching over 207.6 billion USD, an increase of 29.49 billion USD compared to the first quarter, an increase of 14.87 billion USD compared to the second quarter.

Compared to the third quarter of 2023, import and export this quarter increased by 16.5% (equivalent to 29.4 billion USD).

By the end of September 2024, 31 export groups reached over 1 billion USD; of which, 7 groups reached over 10 billion USD. 10 groups had an increase of over 1 billion USD compared to the same period last year. 34 export markets reached over 1 billion USD; of which, 22 markets increased by double digits, 26 markets exceeded the record achieved in the same period in 2022.

41 groups of imported goods reached over 1 billion USD, of which 3 groups reached over 10 billion USD (the highest was computers, electronic products and components - 79.11 billion USD).

Imports from China were the highest ever compared to the same period at 104.81 billion USD, up 32% (equivalent to 25.63 billion USD) over the same period last year, accounting for 62% of the country's import increase in the first 9 months of this year. The trade deficit with China also increased by 66% compared to the same period in 2023.

Source