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EXPORTS - IMPORTS

On shaky ground

Vietnam’s trade performance headed upwards in the opening four
months of 2024 but continued growth is likely to be tempered by
local and global events.

By MANH DUC

ietnam’s total export and import sector (including crude oil) $90.02 billion, cent against March but up 19.9 per cent
value reached $238.88 billion in the up 12.9 per cent and accounting for 72.8 against April last year.
V first four months of 2024, a year- per cent of the total. Imports were estimated at $115.24
on-year increase of 15.2 per cent, figures Twenty-one items posted export value billion in the first four months, a 15.4
from the General Statistics Office reveal. in excess of $1 billion, or 86.4 per cent of per cent increase year-on-year, of which
Both export and import growth are the total, with five items earning over $5 the domestic economic sector contributed
forecast to be unsustainable, however, billion, or 57.8 per cent. Processed indus- $41.86 billion, up 19.7 per cent, and the
due to a host of ongoing difficulties both trial products were $108.27 billion in foreign-invested sector $73.38 billion, up
internal and external. total, for 13.6 per cent growth year-on- 13.1 per cent.
year and representing 87.5 per cent of all Twenty products posted import value
exports, while agricultural and forestry of over $1 billion, or 78.9 per cent of the
Impressive exports to key markets
April’s export value was estimated products were estimated at $10.96 billion, total, with two posting value above $5
at $30.94 billion, down 8.1 per cent up 32 per cent and accounting for 8.9 per billion, or 39.4 per cent. Raw materials
against March but up 10.6 per cent cent of the total, and fisheries products and materials for production were esti-
against April 2023. $2.68 billion, up 2.2 per cent and repre- mated at $108.33 billion, accounting for
The four-month figure came in at senting 2.2 per cent. Energy and mineral 94 per cent of the total, while consumer
some $123.64 billion, a 15 per cent increase products were estimated at $1.73 billion, goods were estimated at $6.91 billion, or
year-on-year. Of this, the domestic eco- an increase of 27.2 per cent and accounting 6 per cent.
nomic sector recorded $33.62 billion, up for 1.4 per cent of the total. The US remained Vietnam’s largest
21 per cent and accounting for 27.2 per April imports, meanwhile, reached export market, with an estimated value
cent of the total, and the foreign-invested an estimated $30.26 billion, down 2 per of $34.1 billion, while China was again

34 Vietnam Economic Times May 15, 2024 en.vneconomy.vn