In the first 11 months of 2024, Vietnam's total export turnover of goods reached US$369.93 billion, a 14.4% increase compared to the same period last year. (Illustrative photo: T.L)

According to data from the General Statistics Office, the total import-export turnover for the first 11 months of 2024 reached US$715.55 billion, an increase of 15.4% compared to the same period last year. Exports rose by 14.4%, imports increased by 16.4%, and the trade balance achieved a surplus of US$24.31 billion.

The export turnover in November 2024 reached US$33.73 billion, a decrease of 5.3% compared to the previous month. Of this, the domestic economic sector contributed US$9.85 billion (down 4.3%), while the foreign-invested sector (including crude oil) contributed US$23.88 billion (down 5.7%).

Compared to the same period last year, November's export turnover increased by 8.2%. The domestic economic sector saw a 13.4% rise, while the foreign-invested sector (including crude oil) experienced a 6.1% increase.

For the 11-month period in 2024, export turnover reached US$369.93 billion, up 14.4% year-over-year. The domestic economic sector accounted for US$103.88 billion, an increase of 20.0%, representing 28.1% of total export turnover. The foreign-invested sector (including crude oil) accounted for US$266.05 billion, an increase of 12.4%, representing 71.9%.

In the first 11 months of 2024, 36 product categories achieved export turnovers exceeding US$1 billion, accounting for 94.1% of total export turnover. Among them, seven products recorded export turnovers over US$10 billion, making up 66.5%.

In terms of export structure, the fuels and minerals group reached US$3.89 billion, accounting for 1.1%; the processed industrial goods group achieved US$325.52 billion, accounting for 88%; the agricultural and forestry products group totaled US$31.35 billion, making up 8.4%; and the seafood products group contributed US$9.17 billion, accounting for 2.5%.

Meanwhile, the preliminary import turnover of goods for November 2024 was US$32.67 billion, a decrease of 2.8% compared to the previous month. Of this, the domestic economic sector recorded US$12.38 billion, down 2.4%; and the foreign-invested sector reached US$20.29 billion, down 3%.

Compared to the same period last year, November's import turnover of goods rose by 9.8%, with the domestic economic sector increasing by 15.2% and the foreign-invested sector by 6.8%.

For the first 11 months of 2024, the preliminary total import turnover was US$345.62 billion, an increase of 16.4% compared to the same period last year. Of this, the domestic economic sector contributed US$126.05 billion, up 18.5%; and the foreign-invested sector accounted for US$219.57 billion, up 15.2%.

In the first 11 months of 2024, 44 imported goods categories reached a value of over US$1 billion, accounting for 92.6% of total import turnover. Among these, five categories surpassed US$10 billion, representing 51.4%.

In terms of the structure of imported goods during this period, the capital goods category had a preliminary value of US$323.72 billion, making up 93.7% of total imports. Within this, machinery, equipment, tools, and spare parts accounted for 47.5%; raw materials, fuels, and supplies made up 46.2%. The consumer goods category reached US$21.9 billion, comprising 6.3% of total imports.

Regarding trade markets, the US was Vietnam's largest export destination in the first 11 months of 2024, with export turnover reaching US$108.9 billion. Meanwhile, China was the largest source of imports, with turnover amounting to US$130.2 billion.

During this period, the trade surplus with the US reached US$95.4 billion, an increase of 26.7% year-on-year; the trade surplus with the EU was US$32 billion, up 21.1%; the trade surplus with Japan was US$2.6 billion, up 70.0%; the trade deficit with China was US$75.0 billion, up 67.7%; the trade deficit with South Korea was US$27.7 billion, up 5.2%; and the trade deficit with ASEAN was US$8.6 billion, up 13.3%.

In the first 11 months of 2024, the preliminary trade balance showed a surplus of US$24.31 billion, compared to a surplus of US$26.2 billion in the same period last year. In which, the domestic economic sector experienced a trade deficit of US$22.17 billion; and the foreign-invested sector (including crude oil) recorded a trade surplus of US$46.48 billion.