Exports week from May 27 to June 2: Many products showed impressive growth; Exports in 2024 will reach the mark of 370 billion USD?

Agricultural, forestry and fishery exports reached more than 24 billion USD

According to the Ministry of Agriculture and Rural Development, in the first 5 months of 2024, the total export turnover of agriculture, forestry and fishery products is estimated at 24.14 billion USD, up 21% over the same period last year.

Specifically, in May 2024 alone, the value of agricultural, forestry and fishery exports reached 5.06 billion USD, an increase of 11.2% over the same period in 2023.

In the first 5 months of 2024, total agricultural, forestry and fishery export turnover is estimated to reach 24.14 billion USD

Of which, agricultural products reached 2.73 billion USD, an increase of 14.3%; forest products 1.35 billion USD, up 17.9%; livestock 45.8 million USD, up 10.2%; seafood alone is 780 million USD, down 3.5%...

In the first 5 months of the year, the total export turnover of agriculture, forestry and fishery products is estimated at 24.14 billion USD, up 21% over the same period last year. Contributing to this result, the export value of agricultural products is estimated at 13.11 billion USD, an increase of 27.7%; Forest products reached 6.58 billion USD, an increase of 22.7%; seafood reached 3.5 billion USD, up 3.6%; livestock reached 199 million USD, an increase of 5.6%...

Most key products have higher export value than the same period in 2023 such as: Wood and wood products increased by 23.6%; coffee increased by 44.1%; rice increased by 38.2%; Cashew nuts increased by 19.3%; vegetables increased by 28.1%, shrimp increased by 7.5%...

In addition, the export price of some items also increased, such as the export price of rice at 638 USD/ton, an increase of 20.5%; Coffee is 3,482 USD/ton, an increase of 49.9%; pepper is 4,308 USD/ton, an increase of 39.3%...

The export value of agriculture, forestry and fishery products to all markets increased. Specifically, Asia increased by 17.5%; Americas increased by 23.1%; Europe increased by 39.4%; Africa increased by 26.1% and Oceania increased by 24.8%. In particular, the US, China and Japan continue to be the three largest import markets with growth rates of 23.9% respectively; 8.6% and 6.6%.

Will exports in 2024 reach the mark of 370 billion USD?

According to the latest information from the General Department of Customs, the country's exports in the first period of May (May 1-15, 2024) reached 14.64 billion USD, down 8% (corresponding to a decrease of 1.28 billion USD). compared to the second period of April 2024.

However, in general from the beginning of the year to May 15, exports still had positive growth.

Exports in 2024 will reach around the 370 billion USD mark

Specifically, accumulated by the end of May 15, 2024, Vietnam's total export turnover reached 138.59 billion USD, an increase of 16.1% (equivalent to an increase of 19.17 billion USD) compared to the same period in 2023.

Some product groups increased sharply such as: computers, electronic products and components increased by 6.16 billion USD, equivalent to an increase of 34.3%; machinery, equipment, tools and spare parts increased by 1.87 billion USD, equivalent to an increase of 12.8%; Phones of all types and components increased by 1.45 billion USD, equivalent to an increase of 7.9%; cameras, camcorders and components increased by 1.27 billion USD, equivalent to an increase of 64.6%...

With the above results, on average in the first 4.5 months of the year, the country's exports reached an average of 30.8 billion USD/month.

If this level is maintained throughout 2024, this year our country's exports will reach around the 370 billion USD mark (second highest in history).

Rice exports are nearly 4.2 million tons

In the first 5 months of 2024, the country has exported nearly 4.2 million tons of rice, reaching a turnover of nearly 2.7 billion USD, an increase of nearly 15% in volume and an increase of more than 38% in value. This year, it is expected that our country will export 7.5 - 8 million tons of rice. Currently, in the Mekong Delta, rice export activities are continuously growing at a high level.

In the first 5 months of 2024, the country exported nearly 4.2 million tons of rice

In the context of a volatile world economy and a sharp increase in food demand in many countries, Vietnam has effectively exploited the rice industry economically. Rice exports continuously increase, not only in output but also in value at a high level.

The opportunity to grow rice exports for Vietnam is primarily due to good exploitation of the Philippine import market. In the Southeast Asian country, Vietnam's rice imports account for more than 80% of this market share. At the beginning of this year, our country's rice consumption increased to 1 million tons and this year it is likely to exceed 4 million tons.

7 export products achieved a turnover of over 5 billion USD

7 export products with a turnover of over 5 billion USD include: Electronics, computers and components; Phones and components; Machinery, equipment, tools and spare parts; Textile; Footwear; Wood and wood products; Transport vehicles and spare parts

Regarding the export and import market of goods in the first 5 months of 2024, the United States is Vietnam's largest export market with an estimated turnover of 44 billion USD. China is Vietnam's largest import market with an estimated turnover of 54.9 billion USD.

Electronics, computers and components are one of seven export products with a turnover of over 5 billion USD

In the first 5 months of 2024, trade surplus to the United States is estimated to reach 38.1 billion USD, up 24.2% over the same period last year; Trade surplus to the EU is estimated at 14.3 billion USD, up 18.4%; Trade surplus to Japan was 290 million USD, down 61.8%; Trade deficit from China is 32.3 billion USD, up 55.9%; Trade deficit from Korea 11.1 billion USD, up 1.3%; Trade deficit from ASEAN was 4.2 billion USD, an increase of 39.1%.

The preliminary trade balance of goods in May 2024 is estimated at a trade deficit of 1.0 billion USD. Calculating the first five months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.01 billion USD (same period last year, trade surplus of 10.2 billion USD). Of which, the domestic economic sector's trade deficit was 11.26 billion USD; The foreign invested sector (including crude oil) had a trade surplus of 19.27 billion USD.

First 5 months of the year: Vietnam's trade surplus is more than 8 billion USD

According to data just announced by the General Statistics Office, in May, total import and export turnover of goods was estimated at 66.62 billion USD, up 9.1% over the previous month and up 22.6% over the year. in the same period last year.

Accordingly, the export turnover of goods in May is estimated at 32.81 billion USD, up 5.7% over the previous month and up 15.8% over the same period last year. In the first 5 months of 2024, merchandise export turnover is estimated to reach 156.77 billion USD, up 15.2% over the same period last year.

First 5 months of the year: Vietnam's trade surplus is more than 8 billion USD

Of which, the domestic economic sector reached 43.69 billion USD, an increase of 20.5%, accounting for 27.9% of total export turnover; The foreign invested sector (including crude oil) reached 113.08 billion USD, an increase of 13.3%, accounting for 72.1%. Regarding the structure of export goods, the group of processed industrial goods is estimated at 137.39 billion USD, accounting for 87.7%.

On the contrary, the import turnover of goods in May was estimated at 33.81 billion USD, up 12.8% over the previous month and up 29.9% over the same period last year. In the first 5 months of 2024, import turnover is estimated at 148.76 billion USD, up 18.2% over the same period last year.

Of which, the domestic economic sector reached 54.95 billion USD, an increase of 24.2%; The foreign investment sector reached 93.81 billion USD, an increase of 14.9%. The group of capital goods is estimated at 139.89 billion USD, accounting for 94%.

Regarding the import and export market of goods, the United States continues to be Vietnam's largest export market with an estimated turnover of 44 billion USD. China is Vietnam's largest import market with an estimated turnover of 54.9 billion USD.

The trade balance of goods in May was estimated at a trade deficit of 1 billion USD. Overall, for the first 5 months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.01 billion USD (the same period last year had a trade surplus of 10.2 billion USD). Of which, the domestic economic sector's trade deficit was 11.26 billion USD; The foreign invested sector (including crude oil) had a trade surplus of 19.27 billion USD.