Import-export revenue rises over 16% in nine months
Revenue from import-export activities hit 578 billion USD in the first nine months of 2024, a rise of over 16% year on year, according to the General Statistics Office (GSO).
Import-export activities at Hai Phong port (Photo: VNA)
Hanoi (VNA) - Revenue from import-export activities hit 578 billion USD in the first nine months of 2024, a rise of over 16% year on year, according to the General Statistics Office (GSO).
In September alone, the figure reached 65.8 billion USD, down 8% from that of August and up 10.9% year on year, including exports of over 34 billion USD, a decline of 10% month on month.
In the third quarter, export turnover was estimated at 108.6 billion USD, up nearly 16% over the same period last year and 10.6% over the second quarter.
In the Jan-Sept period, exports hit 299.63 billion USD, up 15.4% over the same period last year. Of this, the domestic sector earned more than 83 billion USD, a rise of nearly 21%, accounting for 28% of total export turnover, while the foreign-invested sector (including crude oil) contributed 216 billion USD, up 13.4%, accounting for 72%.
Also in the nine-month period, 30 kinds of goods achieved export turnover of over 1 billion USD each, accounting for 92% of the total export turnover, the earning of seven of which was 10 billion USD in exports, accounting for over 66%.
Meanwhile, in September, the country imported over 32 billion USD worth of goods, down nearly 6% month on month but up 11% year on year.
In the third quarter of 2024, import turnover neared 100 billion USD, up 17% over the same period last year and 6% over the second quarter.
The figure pushed the total import value in nine months to 279 billion USD, up 17% year on year, with 178 billion USD coming from the foreign-invested sector.
In the first nine months of 2024, there were 40 kinds of goods posting an import value of over 1 billion USD each, accounting for 91.5% of the total import turnover.
The US remained the largest export market of Vietnam with a revenue of nearly 90 billion USD. In the first nine months of this year, Vietnam enjoyed a trade surplus of 78.5 billion USD with this market.
Meanwhile, China was the biggest supplier of Vietnam with a value of 105 billion USD, resulting in a trade surplus of more than 61 billion USD for Vietnam.
Overa🅺ll, Vietnam posted a trade surplus of 2.3 billion USD in September and 20.79 billion USD the Jan-Sept peri🧜od, higher than 22.1 billion USD recorded in the same period last year./.
State budget collection from export-import activities reached 274.03 trillion VND (11.1 billion USD) in the first eight months of 2024, equivalent to 73.1% of the assigned estimate and up 13.1% year-on-year, the General Department of Vietnam Customs (GDVC) announced on September 10.
Vietnam's import of mobile phones and components reached over 3 billion USD during the first quarter of 2024, according to data from the General Department of Vietnam Customs.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
