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

The Vietnam Customs Statistics announced that in the first half (01-15/12/2022) of December-2022, Vietnam’s total exports of US dollars 13.62 billion and imports of US dollars 13.96 billion resulted in a trade deficit of US dollars 342 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of December was US dollars 27.58 billion, down by 3.8% as compared to the second half of November-2022.

Vietnam‘s trade-in-goods from January to the first half of December of 2022 totaled US dollars 701.28 billion in value terms. It posted an increase of 10.5% (equivalent to USD 66.9 billion) from the same period of previous year. In which, the total merchandise exports value was up 12% to nearly US dollars 355.82 billion and the total merchandise imports value was down 9.1%, to US dollars 345.47 billion.

In the view of FDI traders, from January to December 15th of 2022, the total value of FDI merchandise trade went up by 10.7% to US dollar 487.45 billion.

Export:

When compared with the second half of November-2022, export of first half of December decreased by 11.1%, mostly as a result of the downturn registered in telephone, mobile phone and part thereof (down by 17.6% - USD 378 million); machine, tools and equipments (down by 18.7% - USD 377 million); computer electrical products and part thereofs (down by 7.7% - USD 184 million); textiles and garments (down by 7.8% - USD 115 millions).

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

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

Import:

In the first half of December 2022, increased by 4.5% as compared to the same period of 2021, mainly reflecting the upturn in crude oil (up by 104.7% - USD 250 millions); computer electrical products and part thereofs (up by 8.3% - USD 226 million); irons and steels (up by 54.6% - USD 168 millions); petroleum products (up by 37.6% - USD 143 millions)…

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

Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2022
Source: Vietnam Customs

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