Country records import-export turnover at $242 billion, $2.53 billion trade surplus

A container ship arrives at Cái Mep-Thị Vải Port in the southern province of Bà Rịa-Vũng Tàu. — VNA/VNS Photo

Việt Nam's import-export turnover during the first four months of 2022 reached over US$242 billion, of which exports totalled $122.3 billion and imports $119.8 billion, resulting in a trade surplus of $2.53 billion, according to the latest report released yesterday from the General Statistics Office of Vietnam (GSO).

The four first months of the year have seen the Southeast Asian country's exports increase by 16.4 per cent and imports by 15.7 per cent. The $2.53 billion trade surplus recorded for the period was a marked improvement over the same period last year at $1.5 billion.

GSO's report said Việt Nam's turnover for the month of April stood at $65.4 billion, a 2.9 per cent decrease compared to March but a 20 per cent increase compared to the same period last year. Exports were reported to expand by 25 per cent with the domestic sector's growth at 20.5 per cent and foreign at 26.6 per cent. Imports fell 1.5 per cent from March to nearly $32.2 billion, of which the domestic sector imported $11.02 billion and foreign $21.17 billion.

The country recorded 22 commodities with export values exceeding $1 billion, with six at over $5 billion in the first four months of 2022. Together they accounted for nearly 87 per cent of the country's total export, of which industrial manufacturing was 89 per cent (0.5 per cent decrease from the same period last year), seafood 2.9 per cent (0.6 per cent increase), energy and minerals accounted for 1.3 per cent (0.4 per cent increase).

Meanwhile, imports turnover reached $119.83 billion, a 15.7 per cent increase year-on-year with the domestic sector accounting for $40.97 billion and foreign $78.86 billion, a 16.4 per cent increase. The country's imports were made up mostly of input materials (93.9 per cent) including tools and machinery, raw materials and consumer goods.

The US remained Việt Nam's largest export market with an estimated turnover of $35.7 billion, while China was the largest import market with $37.1 billion in the first four months of 2022. The country recorded a trade surplus of $10.4 billion, a 36.4 per cent increase year-on-year while recorded trade deficits of $18 billion with China (2 per cent increase), $15.2 billion with South Korea (58.3 per cent increase), $5.8 billion with the ASEAN bloc (15.4 per cent increase) and 0.79 billion with Japan (57.7 per cent increase). —VNS