Goods exports in 9 months increased by 15.4% while the same period last year decreased by 8.2%.

According to Mr. Bui Huy Son, Director of the Department of Planning and Finance, Ministry of Industry and Trade at the regular press conference held on the afternoon of October 23, our country's import and export activities in the first 9 months of 2024 have improved and achieved positive results thanks to the recovery of the world market and increased export orders.

Specifically, regarding exports, 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, it still increased by 10.9% over the same period last year.

The Ministry of Industry and Trade held a regular press conference on the afternoon of October 23. Photo: Can Dung

In the first 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 had a surplus of 20.79 billion USD.

The 9-month results also showed positive signs in the export activities of the 100% domestic-owned enterprise sector, when the export turnover growth rate of this sector (up 20.7%) was nearly twice as high as that of the foreign-invested enterprise sector (up 13.4%).

In the first 9 months of 2024, there were 30 items with export turnover of over 1 billion USD, accounting for 92.3% of total export turnover, of which there were 7 items with export turnover of over 10 billion USD, accounting for 66.4%.

Regarding exports, there was strong and even growth in all three groups of goods, specifically: Preliminary export turnover of the agricultural, forestry and fishery group reached 28.8 billion USD, an increase of 21.9% over the same period in 2023, accounting for 9.6% of the total export turnover of the country. In this group, some items had high export turnover compared to the same period last year such as: Pepper increased by 45%; coffee increased by 37.8%; rice increased by 23%; tea of ​​all kinds increased by 31.9%; vegetables and fruits increased by 33.9%; cashew nuts increased by 21.7%.

Export turnover of the processed and manufactured industrial products group reached 253.9 billion USD, accounting for 84.7% of total export turnover and increasing by 15.2% over the same period in 2023. Export turnover of many processed industrial product groups achieved high double-digit growth, including key export items such as: Plastic products increased by 30.8%; wood and wood products increased by 21.5%; textiles and garments increased by 8.9%; footwear of all kinds increased by 12.5%; iron and steel of all kinds increased by 14.7%; computers, electronic products and components increased by 27.4%; cameras, camcorders and components increased by 30%; machinery, equipment, tools, and other spare parts increased by 22%; phones of all kinds and components increased by 7.2%...

Export turnover of mineral fuel products in 9 months is estimated at 3.1 billion USD, up 3% over the same period in 2023.

Regarding the export market of goods in the first 9 months of 2024: Export turnover to most markets and major trading partners of our country has had a positive recovery and achieved high growth.

"In particular, 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. This is a very positive signal, because this is a large market with high requirements" - Mr. Bui Huy Son - Director of the Department of Planning and Finance, Ministry of Industry and Trade emphasized and said: The Chinese market is estimated at 43.56 billion USD, a slight increase of 0.1% over the same period last year; the EU market is estimated at 38.1 billion USD, an increase of 17% over the same period last year; South Korea is estimated at 18.9 billion USD, an increase of 7%; Japan is estimated at 18 billion USD, an increase of 4.7%.

In the first 9 months of 2024, the total import turnover of goods reached 278.84 billion USD, an increase of 17.3% over the same period last year. Photo: ST

Import of goods in 9 months reached 278.84 billion USD, up 17.3%

Regarding goods imports, according to data released by the Ministry of Industry and Trade at the press conference, the import turnover of goods in September 2024 reached 31.76 billion USD, down 5.9% compared to the previous month but up 11.1% compared to the same period last year. Of which, the domestic economic sector reached 10.94 billion USD, down 10%; the foreign-invested sector reached 20.82 billion USD, down 3.6%.

In the first 9 months of 2024, the total import turnover of goods reached 278.84 billion USD, up 17.3% over the same period last year, of which the domestic economic sector reached 100.85 billion USD, up 18.8%; the foreign-invested sector reached 177.99 billion USD, up 16.5%.

In the first 9 months of 2024, there were 40 imported items with a value of over 1 billion USD, accounting for 91.5% of total import turnover, of which there were 3 imported items with a value of over 10 billion USD, accounting for 45%.

Regarding the structure of imported goods: Along with the recovery of production and export in the first 9 months of 2024, the structure of imported goods also changed when accounting for 89% of the total import turnover of goods is the group of goods that need to be imported, with a preliminary turnover of 248 billion USD, an increase of 18.1% over the same period in 2023. Of which, the import turnover of computers, electronic products and components reached 79.1 billion USD, an increase of 25.8% over the same period last year; followed by the import turnover of machinery, equipment, tools and spare parts reaching 35.4 billion USD, an increase of 16.6%. Similarly, the import turnover of most other items also recorded a fairly high increase such as: Steel of all kinds increased by 18.9%; plastic raw materials increased by 18.1%; textile and garment raw materials, leather and footwear increased by 18.3%; fabrics of all kinds increased by 14.3%.

The import turnover of the group of goods subject to import restrictions in the first 9 months initially reached nearly 15 billion USD, up 10.4% over the same period last year. Of which, the highest increase was in the import turnover of household electrical appliances and components, up 19.6%; aromatics, cosmetics and cleaning products up 17.1% and vegetables and fruits up 14%.

Regarding the goods import market, Mr. Bui Huy Son said: China is still Vietnam's largest import market with a 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; followed by South Korea with an estimated turnover of 41.46 billion USD, up 8.2%; ASEAN with 33.8 billion USD, up 12.3%; Japan with 16 billion USD, up 2.4%; EU with 12.2 billion USD, up 9.8%; the United States with 10.9 billion USD, up 6.2%.