Impressive 700 billion USD of import and export turnover

VCN - In 2022, Vietnam's import and export turnover will surpass a record of 700 billion USD. Surrounding this result is a lot of impressive information.
Import and export of Vietnam - China reaches US$162 billion Import and export of Vietnam - China reaches US$162 billion
Import and export turnover no longer depends on the exchange rate Import and export turnover no longer depends on the exchange rate
The effectiveness of trade facilitation solutions has promoted the growth of imports and exports The effectiveness of trade facilitation solutions has promoted the growth of imports and exports
VCN - In 2022, Vietnam's import and export turnover will surpass a record of 700 billion USD. Surrounding this result is a lot of impressive information.

Shorten the cycle

Data from the General Department of Customs shows that over the years, Vietnam's import and export has made strong progress in terms of scale and growth rate. Thereby, the milestones of hundreds of billions of USD are shortened significantly.

In 2007, for the first time, import and export reached 100 billion USD, after Vietnam became an official member of the World Trade Organization (WTO). In 2011, this number doubled. Four years later, Vietnam's import and export reached 300 billion USD. The milestone of US$ 400 billion was recorded in mid-December 2017; US$500 billion is set for mid-December 2019 and US$600 billion is set for November 30, 2021. The new US$700 billion milestone was recorded on December 15, 2022.

In 20 years (2002-2021), the country's import and export turnover reached 5.146 billion USD. Notably, in the last 10 years alone (2012-2021), it reached US$4,110 billion, nearly four times more than 10 years ago combined.

The new milestone represents an important step forward in Vietnam's international economic integration, demonstrating the increasing openness of the economy when the import-export turnover is nearly double GDP (Vietnam's GDP in 2022 is estimated to be more than twice that of GDP, estimated at 390 to 400 billion USD).

The rapid development of import and export activities has shown its effectiveness in taking advantage of Free Trade Agreements (FTAs). Currently, our country has signed 15 bilateral and multilateral FTAs, in which these agreements cover most of Vietnam's leading trading partners such as China, Korea, Japan, EU.

In addition to the main and traditional markets, the year 2022 marks remarkable growth with partner countries in the Americas having FTAs with Vietnam for the first time such as Canada, Peru, and Mexico, especially strong growth in exports.

In terms of business types, the year 2022 will record positive growth of both domestic and foreign direct investment (FDI) enterprises.

However, with many enterprises and multinational corporations operating in Vietnam such as Samsung, LG, Intel, etc., FDI enterprises still play a key role in Vietnam's import and export activities.

Specifically, by the end of November 2022, FDI enterprises reached 468.7 billion USD, up 12.1% over the same period in 2021, accounting for nearly 70% of the country's total import and export turnover. In which, exports of FDI enterprises reached USD 252.64 billion, up 14.5%, accounting for 73.8% of the export turnover of the country.

On the other hand, imports of Vietnam reached 216.06 billion USD, up 9.5%, accounting for 65.2% of the import turnover of the whole country.

Impressive 700 billion USD of import and export turnover

Currently, Vietnam has extensive trade relations with most countries and territories. In particular, focusing on major partners such as China, the United States, Korea, Japan, EU, and ASEAN.

Impressive 700 billion USD of import and export turnover

For many years, the United States has always been the largest export market, while China is the number 1 import market. From the beginning of the year to the end of November 2022, exports to the United States reached 101 billion USD, up 17.7% (equivalent to an increase of USD 15.2 billion) over the same period in 2021. While imports of goods of Chinese origin reached USD 109.46 billion, up 10% (equivalent to USD 9.93 billion).

In general, these are also two partners with bilateral trade turnover reaching 100 billion USD or more. In which, China ranked No. 1 (at the end of November reached 162 billion USD). Meanwhile, the United States reached 114.68 billion USD.

Impressive 700 billion USD of import and export turnover

Another impression comes from the strong rise of many key export industries. In addition to the key product groups with a turnover of tens of billions of USD, they continued to maintain impressive sales such as phones; computers; devices; textiles; footwear; wood and wood products, in 2022, the traditional export industry, which is seafood, will reach 10 billion USD for the first time.

Impressive 700 billion USD of import and export turnover

An important contribution to the import and export results in the past year is the rise of many localities throughout the country. In which, Ho Chi Minh City continues to maintain its leading position and is the only locality with a turnover of "hundreds of billions of dollars". In addition, other key localities also maintained a remarkable growth momentum such as Bac Ninh, Binh Duong, Thai Nguyen, Dong Nai, Hai Phong, Hanoi... or the strong rise of Bac Giang to join the group with high growth rates. turnover of tens of billions of USD/year.

Impressive 700 billion USD of import and export turnover

It can be said that the impressive results of import and export in 2022 demonstrate the effectiveness of the Government's macroeconomic management, the efforts in implementing solutions to facilitate the ministries, branches and localities.

It is impossible not to mention the role of the General Department of Customs - the Standing Body of the National Steering Committee on ASEAN Single Window, National Single Window and Trade Facilitation. In particular, the miracle of import and export exceeding 700 billion USD plays a very important role in the efforts of the business community and employees in overcoming difficulties to recover and develop production and business after the pandemic.

The results achieved in 2022 will create momentum for Vietnam's import and export activities to continue towards higher goals, soon reaching the milestone of 1 trillion USD.

By Thai Binh/ Huu Tuc

Related News

State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Hai Phong Customs processes more than 1,500 declarations during 2025 Lunar New Year holiday

Hai Phong Customs processes more than 1,500 declarations during 2025 Lunar New Year holiday

VCN - During the 2025 Lunar New Year holiday, Hai Phong Customs Department processed 1,547 declarations.

Latest News

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

VCN - Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.

More News

Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Data centres are attracting investors in Asia

Data centres are attracting investors in Asia

The global data centre market reached new heights in 2024, driven by the growing demand for generative AI, which has triggered a new wave of investment.
US or China: Who will lead in Vietnamese Tra fish imports?

US or China: Who will lead in Vietnamese Tra fish imports?

VCN - Given that tra fish is a key export commodity for Vietnam's seafood industry, the question arises whether the United States will surpass China as the leading importer of this product in 2025.
Sustainable fashion presents promising niche market for textile manufacturers

Sustainable fashion presents promising niche market for textile manufacturers

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.
VN

VN's car industry to diversify supply chain

While China remains a significant supplier, recent trade data highlights Việt Nam’s efforts to diversify supply to meet industry demands.
Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Việt Nam’s export value of agro-forestry-aquatic products was estimated at US$5.08 billion in January, marking a 4.9 per cent decline compared to the same period last year.
Thailand reviews anti-dumping tax on Vietnamese steel

Thailand reviews anti-dumping tax on Vietnamese steel

TRAV recommended that the Việt Nam Steel Association (VSA) notify relevant local manufacturers and exporters to answer the investigation questionnaire within the prescribed deadline.
In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

VCN - Total import-export turnover in the first half of January 2025 reached more than US$34 billion, the trade balance had a deficit of nearly US$2 billion.
Pangasius fetch record price in early 2025

Pangasius fetch record price in early 2025

Currently, larger pangasius weighing over 1.2kg, are selling at VNĐ32,440 (US$1.29) per kilogram, a record high not seen since 2022.
Read More

Your care

Latest Most read
Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.
Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Mobile Version