Strong Export Growth Continues
Vietnam’s exports maintained their impressive growth trajectory in the first half of May 2024, reaching US$14.64 billion. This marks a 16% increase compared to the same period in 2023.
Key Export Sectors
Four product groups accounted for over US$1 billion in exports during this period:
- Computers, electronic products, and components
- Telephones and components
- Machinery, equipment, tools, and spare parts
- Garments and textiles
Cumulative Export Growth
From the beginning of the year to May 15th, Vietnam’s total export turnover reached US$138.59 billion, representing a 16% increase compared to the same period in 2023. This translates to an additional US$19.17 billion in exports.
Strong Performance Across Markets
Notably, all 10 of Vietnam’s largest export markets experienced positive growth, including the US, EU, China, ASEAN, Korea, Japan, Hong Kong (China), India, Canada, and Australia.
Top 5 Export Markets
The five markets with the most impressive growth rates were:
- US
- China
- EU
- ASEAN
- Hong Kong (China)
Import Situation
Imports during the first half of May totaled US$17.26 billion, with two product groups surpassing US$1 billion:
- Computers, electronic products, and components
- Machinery, equipment, tools, and spare parts
Cumulative Import Growth
Year-to-date import turnover reached US$132.23 billion, up 17.5% from the same period in 2023. This represents an additional US$19.7 billion in imports.
Overall Trade Balance
By mid-May, Vietnam’s total import-export turnover reached US$270.82 billion, resulting in a trade surplus of US$6.36 billion.
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