Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2023

The Vietnam Customs Statistics announced that in the first half (01-15/12/2023) of December-2023, Vietnam’s total exports of US dollars 15.04 billion and imports of US dollars 15.48 billion resulted in a trade deficit of nearly US dollars 438 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of December was US dollars 30.52 billion, down by 1.4% as compared to the second half of November-2023.
Vietnam‘s trade-in-goods from January to the first half of December of 2023 totaled US dollars 649.96 billion in value terms. It posted an decrease of 7.5% (equivalent to USD 52.53 billion) from the same period of previous year. In which, the total merchandise exports value was down 5.2% to nearly US dollars 337.62 billion and the total merchandise imports value was down 9.8%, to US dollars 312.35 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of December of 2023 reached USD 445.83 billion, down by 8.6% as compared to the same period of last year.

Export:

When compared with the second half of November-2023, export of first half of December decreased by 8.1%, mostly as a result of the downturn registered in telephone, mobile phones and part thereof (down by 20.5% - USD 463 millions); computers, electrical products (down by 6.2% - USD 167 million equally); machine, tools & equipments (down by 7.8% - USD 158 millions); textiles and garment (down by 7.7% - USD 112 million)…

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to December 15th 2023 as compared to the same period of 2022.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2023

Import:

In the first half of December 2023, import increased by 6.1% when compared with the second half of November, mainly reflecting the upturn in computers, electrical products (up by 3.2% - USD 135 million equally); machine, tools & equipments (up by 3.3% - USD 62 millions).

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to December 15th 2023 as compared to the same period of 2022.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2023

Source: Vietnam Customs

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Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

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Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2023

Preliminary assessment of Vietnam international merchandise trade performance in the first half of December, 2023

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Preliminary assessment of Vietnam international merchandise trade performance in the second half of November, 2023

Preliminary assessment of Vietnam international merchandise trade performance in the second half of November, 2023

The Vietnam Customs Statistics announced that in the second half of November, 2023 the total Vietnam’s exports of US dollars 16.37 billion and imports of nearly US dollars 14.59 billion resulted in a trade surplus of US dollars 1.78 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of November was over US dollars 30.96 billion, up by 5.2% as compared to the first half of November. In 11 months of 2023, Vietnam was in trade surplus of USD 25.86 billion.
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