The United States is Vietnam's largest trade surplus

15/10/2024 10:16

According to the report of the Ministry of Industry and Trade, with the recovery of the world market, export orders have increased, so our country's import and export activities in the first 9 months of 2024 have prospered and achieved positive results.

Source: Internet

In September 2024, the total preliminary import and export turnover of goods reached 65.81 billion USD, although down 8% compared to the previous month, still up to 10.9% over the same period last year.

Generally, in 9 months, the total preliminary import and export turnover of goods reached 578.47 billion USD, up 16.3% over the same period last year (down 11% over the same period), of which exports increased by 15.4% (down 8.2% over the same period); imports increased by 17.3% (down 13.9% over the same period). The trade balance of goods has a trade surplus of 20.79 billion USD.

Notably, exports continued to grow strongly and evenly in all 3 commodity groups. Specifically, the preliminary export turnover of agricultural, forestry and fishery products reached 28.8 billion USD, up 21.9% over the same period in 2023, accounting for 9.6% of the total export turnover of the country.

The export turnover of preliminary processing and manufacturing industrial goods reached 253.9 billion USD, accounting for 84.7% of the total export turnover and increasing by 15.2% over the same period in 2023 (the same period in 2023 decreased by 9.6%). Export turnover of mineral fuels in 9 months is estimated at 3.1 billion USD, up 3% over the same period in 2023.

Regarding the market, in the first 9 months of 2024, export turnover to most of our country's major markets and trading partners has a positive recovery and achieved high growth. In which, the United States is Vietnam's largest export market with an estimated turnover of 89.4 billion USD, accounting for 29.8% of the country's total export turnover and increasing by 27.4% over the same period last year (the same period in 2023 decreased by 17.6%); followed by the Chinese market estimated at 43.56 billion USD, up slightly by 0.1% over the same period last year (the same period in 2023 increased by 2%); the EU market is estimated at 38.1 billion USD, up 17% over the same period last year (the same period in 2023 decreased by 8.2%); South Korea is estimated at 18.9 billion USD, up 7% (the same period in 2023 decreased by 5.1%); Japan is estimated at 18 billion USD, up 4.7% (down 3% in the same period in 2023).

On the other hand, in terms of the import market, China is still Vietnam's largest import market with a preliminary turnover of 105 billion USD, accounting for nearly 38% of the country's total import turnover and increasing by 32.5% over the same period last year (the same period in 2023 decreased by 13.6%); followed by South Korea estimated at 41.46 billion USD, up 8.2% (down 20.1% in the same period in 2023); ASEAN reached 33.8 billion USD, up 12.3% (the same period in 2023 decreased by 14.5%); Japan reached 16 billion USD, up 2.4%; the EU reached 12.2 billion USD, up 9.8%; The United States reached $10.9 billion, up 6.2%.

The trade balance in September 2024 continued to have a surplus of about 2.29 billion USD, bringing our country's total trade surplus in the first 9 months of 2024 to about 20.79 billion USD (the same period last year had a trade surplus of 22.1 billion USD). By market area, the trade surplus to the United States was estimated at 78.5 billion USD, up 31% over the same period last year; trade surplus to the EU was estimated at 25.9 billion USD, up 20.8%; trade surplus to Japan was estimated at 1.9 billion USD, up 28.8%.

Source: congthuong.vn