Trade turnover outstrips US$440 billion mark

With US$37.17 billion earned in the second half of July, total trade value rose to US$440.45 billion in the first seven months of 2024, up 17.2 percent against the same period last year, according to the General Department of Customs.

The export turnover in the second half of July (from July 16 to July 31) went up 13.7 percent, equivalent to US$4.48 billion in comparison with that in the same period in the first half of July (from July 1 to July 15).

Specifically, the FDI sector reported the earnings of US$298.6 billion, up 15.6 percent or US$40.19 billion, against the same period last year. Meanwhile, the domestic sector confirmed US$141.85 billion of trade turnover, representing a year-on-year increase of 20.8 percent, equivalent to US$24.47 billion.

Some product groups, including computers, electronic products, and components increased by US$608 million or 23 percent; phones and spare parts, US$570 million or 23.3 percent; machinery, equipment, tools, and spare parts, US$463 million or 21.4 percent; textiles and garments, US$396 million or 23.9 percent; footwear, US$182 million or 18.8 percent; and various types of steel, US$141 million or 44.5 percent.

In contrast, the import value of some product groups decreased in the second half of July compared to the first half, such as corn, down US$57.8 million or 40.2 percent; ores and other minerals, US$37.9 million or 23.9 percent; and wheat, US$25.7 million or 43.8 percent.

In the first seven months of 2024, the total import value of FDI enterprises reached US$135.38 billion, up 17.3 percent (equivalent to US$19.95 billion) compared to the same period last year, accounting for 63.6 percent of the country's total import value.

With these results, Viet Nam enjoyed a trade surplus of US$2.6 billion in the second half of July and US$14.52 billion in the first seven months this year, down by US$1.98 billion against the same period last year.