In the reviewed period, the country’s trade turnover reached over 511 billion USD, up 16.7% over the same period last year, with exports totaling 265 billion USD and imports 246 billion USD, up 15.8% and 17.7% year-on-year, respectively.
Of the export value, that from the domestic sector reached 73.88 billion USD, accounting for 27.9%; and the foreign-invested sector (including crude oil) 72.1%.
In the first eight months, Vietnam had 30 items with export turnover of over 1 billion USD, making up 92.3% of the total export turnover. Particularly, six posted a turnover of over 10 billion USD, accounting for 62.6% of the country's total figure.
Meanwhile, regarding the import value, the domestic sector saw a rise of 19.7% to 89.58 billion and the foreign-invested sector 16.9% to 156.44 billion USD.
In August alone, the trade value reached 70.65 billion USD, up 0.8% month-on-month and 13.5 over the same period last year. Of the figure, exports were worth 37.59 billion USD, an increase of 3.7% against July while imports dropped 2.4% month on month to 33.06 billion USD.
The US is Vietnam's largest importer with a revenue of 77.9 billion USD, while China is the country's largest exporter with 92.3 billion USD.
Former GSO Director Nguyen Bich Lam said that if Vietnam’s exports keep increasing month over month in the remaining four months of 2024, its total export turnover of goods this year is estimated to set a new record of 400 billion USD, far exceeding the historical milestone of 371.82 billion USD made in 2022.
