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Preliminary assessment of Vietnam international merchandise trade performance in the first half of August, 2022

17:06 | 03/10/2022

The Vietnam Customs Statistics announced that in the first half (01-15/8/2022) of August-2022, Vietnam’s total exports of US dollars 15.13 billion and imports of US dollars 15.24 billion resulted in a trade deficit of nearly US dollars 114 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of August was US dollars 30.37 billion, down by 0.1% as compared to the second half of July-2022.

Vietnam‘s trade-in-goods from January to the first half of August of 2022 totaled US dollars 464.12 billion in value terms. It posted an increase of 16.2% (equivalent to USD 64.85 billion) from the same period of previous year. In which, the total merchandise exports value was up 17.7% to nearly US dollars 232.76 billion and the total merchandise imports value was up 14.8%, to US dollars 231.37 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of August of 2022 reached USD 320.79 billion, up by 16.3% as compared to the same period of last year.

Export:

When compared with the second half of July-2022, export of first half of August decreased by 6.9%, mostly as a result of the downturn registered in computers, electrical products (down by 18.1% - USD 412 million equally); machine, tools & equipments (down by 13.7% - USD 308 millions); irons and steels (down by 50.8% - USD 203 million); footwear (down by 13.8% - USD 162 million);

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to August 15th 2022 as compared to the same period of 2021.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of August, 2022

Import:

In the first half of August 2022, import increased by 7.8% when compared with the second half of July, mainly reflecting the upturn in computers, electrical products (up by 15.5% - USD 470 million equally); crude oil (up by 166.6% - USD 382 million equally); motor vehicle (up by 46% - USD 65 million equally)…

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to August 15th 2022 as compared to the same period of 2021.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of August, 2022

Source: Vietnam Customs