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

The Vietnam Customs Statistics announced that in the first half (01-15/10/2022) of October-2022, Vietnam’s total exports of US dollars 14.11 billion and imports of US dollars 13.64 billion resulted in a trade surplus of nearly US dollars 466 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of July was US dollars 27.75 billion, down by 12.6% as compared to the second half of September-2022.

Vietnam‘s trade-in-goods from January to the first half of October of 2022 totaled US dollars 585.43 billion in value terms. It posted an increase of 14.5% (equivalent to USD 73.98 billion) from the same period of previous year. In which, the total merchandise exports value was up 16.7% to nearly US dollars 296.34 billion and the total merchandise imports value was up 12.7%, to US dollars 289.1 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of October of 2022 reached USD 407.21 billion, up by 14.9% as compared to the same period of last year.

Export:

When compared with the second half of September-2022, export of first half of October decreased by 17.5%, mostly as a result of the downturn registered in computers, electrical products (down by 41.4% - USD 1.35 billion equally); machine, tools & equipments (down by 22.2% - USD 526 millions); textiles and garments (down by 15.8% - USD 240 million); footwear (down by 12.1% - USD 125 million)…

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

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

Import:

In the first half of October 2022, import decreased by 6.9% when compared with the second half of September, mainly reflecting the downturn in machine, tools & equipments (down by 10.8% - USD 208 millions); computers, electrical products (down by 4.8% - USD 165 million equally); petroleum products (down by 33.8% - USD 132 million equally)…

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

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

Source: Vietnam Customs

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