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

The Vietnam Customs Statistics announced that in the first half (01-15/5/2022) of May-2022, Vietnam’s total exports of US dollars 12.82 billion and imports of US dollars 15.52 billion resulted in a trade deficit of nearly US dollars 2.7 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of May was US dollars 28.34 billion, down by 15.6% as compared to the second half of April-2022.

Vietnam‘s trade-in-goods from January to the first half of May of 2022 totaled US dollars 270.56 billion in value terms. It posted an increase of 15.4% (equivalent to USD 36.01 billion) from the same period of previous year. In which, the total merchandise exports value was up 15.5% to nearly US dollars 135.28 billion and the total merchandise imports value was up 15.2%, to US dollars 135.39 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of May of 2022 reached USD 187.3 billion, up by 14.3% as compared to the same period of last year.

Export:

When compared with the second half of April-2022, export of first half of May decreased by 28.6%, mostly as a result of the downturn registered in telephone, mobile phone and part thereof (down by 39.3% - USD 1.2 billion); computer electrical products and part thereofs (down by 32.1% - USD 863 million); machine, tools and equipments (down by 24.4% - USD 481 millions); …

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

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

Import:

In the first half of May 2022, import decreased by 0.6% when compared with the second half of April, mainly reflecting the downturn in computer electrical products and part thereofs (down by 10.8% - USD 400 million); crude oil (down by 40.7% - USD 146 millions)…

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

Source: Vietnam Customs

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