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

10:00 | 18/08/2022

The Vietnam Customs Statistics announced that in the first half (01-15/7/2022) of July-2022, Vietnam’s total exports of US dollars 14.29 billion and imports of US dollars 16.3 billion resulted in a trade deficit of nearly US dollars 2.01 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of July was US dollars 30.59 billion, down by 8.3% as compared to the second half of June-2022.

Vietnam‘s trade-in-goods from January to the first half of July of 2022 totaled US dollars 403.11 billion in value terms. It posted an increase of 16.7% (equivalent to USD 57.66 billion) from the same period of previous year. In which, the total merchandise exports value was up 17.4% to nearly US dollars 201.08 billion and the total merchandise imports value was up 16%, to US dollars 202.03 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of July of 2022 reached USD 277.75 billion, up by 16.5% as compared to the same period of last year.

Export:

When compared with the second half of June-2022, export of first half of July decreased by 19.5%, mostly as a result of the downturn registered in computers, electrical products (down by 45.9% - USD 1.41 billion equally); telephone, mobile phone and part thereof (down by 26.8% - USD 682 million); machine, tools & equipments (down by 13% - USD 274 millions); irons and steels (down by 44% - USD 193 million)…

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

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

Import:

In the first half of July 2021, import increased by 4.5% when compared with the second half of June, mainly reflecting the upturn in computers, electrical products (up by 13.8% - USD 465 million equally); telephone mobile phones (up by 23.9% - USD 164 million equally)…

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

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

Source: Vietnam Customs