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

17:06 | 03/10/2022

The Vietnam Customs Statistics announced that in the first half (01-15/9/2022) of September-2022, Vietnam’s total exports of US dollars 12.75 billion and imports of US dollars 13.59 billion resulted in a trade deficit of nearly US dollars 845 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of September was US dollars 26.34 billion, down by 25.7% as compared to the second half of August-2022.

Vietnam‘s trade-in-goods from January to the first half of September of 2022 totaled US dollars 526.04 billion in value terms. It posted an increase of 15.7% (equivalent to USD 71.46 billion) from the same period of previous year. In which, the total merchandise exports value was up 17.8% to nearly US dollars 265.34 billion and the total merchandise imports value was up 13.7%, to US dollars 260.7 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of September of 2022 reached USD 364.89 billion, up by 15.9% as compared to the same period of last year.

Export:

When compared with the second half of August -2022, export of first half of September decreased by 35.3%, mostly as a result of the downturn registered in computers, electrical products (down by 38.2% - USD 1.17 billion equally); telephone, mobile phone and part thereof (down by 31.5% - USD 1.07 billion); textiles and garments (down by 44.8% - USD 980 million); machine, tools & equipments (down by 29.7% - USD 751 millions).

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

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

Import:

In the first half of September 2022, import decreased by 13.6% when compared with the second half of August, mainly reflecting the downturn in machine, tools & equipments (down by 17.2% - USD 372 millions); computers, electrical products (down by 9.8% - USD 335 million equally); base metal (down by 36.7% - USD 162 million equally)…

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

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

Source: Vietnam Customs