Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2022

Highlights 1. According to trade statistics of Vietnam Customs, in March 2022, a 38.1% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of February 2022. Exports went up 48.2 %, to USD 34.71 billion and imports increased 28.7 %, to USD 32.66 billion in terms of month-on- month basis. As a result, there was a USD 2.05 billion surplus in Vietnam’s trade balance in this month.

2. In the first quarter of 2022, Vietnam‘s trade-in-goods totaled US dollars 176.75 billion in value terms, 14.3% above the corresponding period of last year. As compared to result of corresponding period of 2021, total merchandise exports value rose 13.4%, to US dollars 89.1 billion and the total merchandise imports value increased 15.2% to US dollars 87.64 billion. Accordingly, Vietnam’s trade balance for January-March period of 2022 was in the surplus of US dollars 1.46 billion.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 46.89 billion in total for March of 2022, up by 35.7 % on month-on-month basis. FDI’s export value of USD 25.84 billion and FDI’s import value of USD 21.05 billion led to a trade surplus of USD 4.79 billion.

For January-March period of 2022, trade-in-goods by FDI traders totaled US dollars 123.05 billion, up by 12.8 % on year-on-year basis. Total value of FDI exportation was USD 65.36 billion, increased by 10.6%. On import side, the total value of those companies was USD 57.69 billion, up by 15.3%. As a result, FDI’s trade balance was in surplus of USD 7.68 billion.

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2022

Main Exports and Imports

4. The February of 2022 to March of 2022 increase in total merchandise exports was due to the upwards in telephones, mobile phones and parts thereof (up by USD 2.7 billion); computers, electrical products, spare-parts and components thereof (up by USD 1.47 billion); textiles and garments (up by USD 1 billion); machine, equipments, tools and instruments (up by USD 869 million); foot-wears (up by USD 644 million)..

On a year-on-year basis, exports increase USD 10.55 billion, to USD 89.1 billion. The main products, which contributed to the increase, were ; textiles and garments (up by USD 1.46 billion); computers, electrical products, spare-parts and components thereof (up by USD 1.22 billion); machine, equipments, tools and instruments (up by USD 829 million); fishery products (up by USD 788 million); …

5. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first quarter of 2022 were: telephones, mobile phones and parts thereof; computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textiles and garments.

Telephones, mobile phones and parts thereof reached USD 14.88 billion in export value and was up by USD 3.5% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (up by 14.4% on year-on-year basis, to USD 3.68 billion); the United States (up by 13.2% on year-on-year basis, to USD 2.81 billion); EU (27) (down by 16.6% on year-on-year basis, to USD 1.7 billion); Republic of Korea (up by 35.7% on year-on-year basis, to USD 1.45 billion).

Computers, electrical products, spare-parts and components thereof reached USD 13.24 billion in export value; went up 10.1% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 15.7% on year-on-year basis, to USD 3.31 billion); China (up by 10.1% on year-on-year basis, to USD 3 billion); EU (27) (up by 18.5% on year-on-year basis, to USD 1.85 billion); Hong Kong (down by 5.5% on year-on-year basis, to USD 1.39 billion); Republic of Korea (down by 0.6% on year-on-year basis, to USD 1.03 billion)…

Machine, equipments, tools and instruments reached USD 9.95 billion in export value; went up by 9.1% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 0.3% on year-on-year basis, to USD 4.38 billion); EU (27) (up by 7.2% on year-on-year basis, to USD 1.28 billion); Republic of Korea (up by 25.7% on year-on-year basis, to USD 699 million); China (up by 21.4% on year-on-year basis, to USD 668 million); …

Textiles and garments reached USD 8.68 billion in export value ; went up by 20.3% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 24.2% on year-on-year basis, to USD 4.36 billion); EU (27) (up by 31.4% on year-on-year basis, to USD 896 million); Japan (down by 2.9% on year-on-year basis, to USD 771 million); Republic of Korea (up by 6.9% on year-on-year basis, to USD 754 million); …

6. The February of 2022 to March of 2022 growth in total merchandise imports was due to the upwards of the commodities as follows: computers, electrical products, spare-parts and components thereof (up by USD 1.45 billion); petroleum products (up by USD 725 million); machine, equipments, tools and instruments (up by USD 580 million); crude oil (up by USD 523 million); cashew nut (up by USD 371 million).

On a year-on-year basis, imports went up USD 11.54 billion, to USD 87.64 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 5.06 billion); petroleum products (up by USD 1.38 billion); coil (up by USD 748 million); telephones, mobile phones and parts thereof (up by USD 690 million);…

7. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first quarter of 2022 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; telephones, mobile phones and parts thereof; textile, leather and foot-wears materials and auxiliaries group.

Computers, electrical products, spare-parts and components thereof reached USD 21.73 billion in import value ; went up by 30.4% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were Republic of Korea (up by 46.4% on year-on-year basis, to USD 6.43 billion); China (up by 30.9% on year-on-year basis, to USD 6.1 billion); Taiwan (China) (up by 36.7%, to USD 3.05 billion); Japan (up by 38.7%, to USD 1.75 billion);…

Machine, equipments, tools and instruments reached USD 10.53 billion in import value; went down 3.1% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (down by 0.5% on year-on-year basis, to USD 5.3 billion); Republic of Korea (down by 5.7% on year-on-year basis, to USD 1.67 billion); Japan (down by 7% on year-on-year basis, to USD 1.02 billion);…

Textile, leather and foot-wears materials and auxiliaries group reached USD 6.81 billion in import value; was up by 17.5% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 21.8% on year-on-year basis, to USD 3.43 billion); Taiwan (up by 10.7%, to USD 674 million); Republic of Korea (up by 7.3% on year-on-year basis, to USD 607 million); …

Telephones, mobile phones and parts thereof reached USD 5.54 billion in import value; was up by 14.2% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were Republic of Korea (up by 38.8% on year-on-year basis, to USD 2.89 billion); China (down by 0.9% on year-on-year basis, to USD 2.24 billion);…

Trading Partners

8. In the first quarter of 2022, Vietnamese merchandise trade with trading partners in Asia was totaled USD 115.39 billion in value terms, which moved up 15.1% as compared to the same period of 2021. Trade-in-goods of Vietnam with America was followed, which reached USD 36.38 billion and increased by 13.7%. The values of other continents were Europe: USD 19.17 billion, up by 9.8%; Oceania: USD 3.96 billion, up by 28.7% and Africa: USD 1.86 billion, up by 1.7% in comparison with the same period of 2021.

9. For Jan-Feb period of 2022, 4 exporting markets of Vietnam with turnover of over USD 5 billion were: The United States of America (reached USD 25.96 billion); China (reached USD 13.44 billion); Republic of Korea (reached USD 6.15 billion) and Japan (reached USD 5.38 billion).

10. On import side, four partners exporting goods to Vietnam with turnover of over 5 billion were as follows: China (reached USD 27.43 billion); Republic of Korea (reached USD 16.77 billion); Taiwan (reached USD 6.07 billion); Japan (reached USD 5.82 billion).

Source: Vietnam Customs

Related News

Build and protect the rice value chain against market fluctuations

Build and protect the rice value chain against market fluctuations

VCN - Due to recent risks and challenges,business performancehave been badly hurt andmany chain links have been under threats ..., the rice industry needs to enhance the role of ministries, branches, localities, and farmers and businesses in building and protecting the rice value chain against market fluctuations.

Latest News

Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in February of 2024, a 26.7% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of January 2024. Exports went down 28.5 %, to USD 24.69 billion and imports decreased 24.6%, to USD 23.30 billion in terms of month-on-month basis. As a result, there was a USD 1.38 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2024

The Vietnam Customs Statistics announced that in the second half of February, 2024 the total Vietnam’s exports of US dollars 14.73 billion and imports of nearly US dollars 13.68 billion resulted in a trade surplus of US dollars 1.05 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of February was over US dollars 28.41 billion, up by 46.7% as compared to the first half of February-2024. Furthermore, in the first 2 months of 2024, Vietnam was in trade surplus of USD 5 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024

The Vietnam Customs Statistics announced that in the second half of January, 2024 the total Vietnam’s exports of US dollars 19.3 billion and imports of nearly US dollars 16.03 billion resulted in a trade surplus of US dollars 3.27 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of January was over US dollars 35.33 billion, up by 18.6% as compared to the first half of January-2024. Furthermore, in the first month of 2024, Vietnam was in trade surplus of USD 3.63 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in the first month of 2024, a 7.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of December 2023. Exports went up 9.7 %, to USD 34.53 billion and imports increased 5.1%, to USD 30.90 billion in terms of month-on-month basis. As a result, there was a USD 3.63 billion surplus in Vietnam’s trade balance in this month.

More News

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

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

The Vietnam Customs Statistics announced that in the second half of December, 2023 the total Vietnam’s exports of US dollars 16.31 billion and imports of nearly US dollars 13.66 billion resulted in a trade surplus of US dollars 2.65 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of December was over US dollars 29.98 billion, down by 1.8% as compared to the first half of December-2023. Furthermore, in 2023, Vietnam was in trade surplus of USD 28.3 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the whole year of 2023

Preliminary assessment of Vietnam international merchandise trade performance in the whole year of 2023

Highlights 1. According to trade statistics of Vietnam Customs, in December of 2023, a 0.3% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of the last month. Exports went up 1.1%, to US dollars 31.47 billion and imports decreased 0.6%, to US dollars 29.40billion in terms of month-on-month basis. As a result, there was a US dollars 2.06 billion surplus in Vietnam’s trade balance in this month.
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

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.
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.
Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2023

Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2023

Highlights 1. According to trade statistics of Vietnam Customs, in November of 2023, a 1.7% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of the last month. Exports went down 3.5%, to US dollars 31.12 billion and imports increased 0.2%, to US dollars 29.58 billion in terms of month-on-month basis. As a result, there was a US dollars 1.54 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2023

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

The Vietnam Customs Statistics announced that in the first half (01-15/11/2023) of November-2023, Vietnam’s total exports of US dollars 14.66 billion and imports of US dollars 14.77 billion resulted in a trade deficit of nearly US dollars 118 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of November was US dollars 29.43 billion, down by 14.7% as compared to the second half of October-2023.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of October, 2023

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

The Vietnam Customs Statistics announced that in the second half of October, 2023 the total Vietnam’s exports of US dollars 18.02 billion and imports of nearly US dollars 16.5 billion resulted in a trade surplus of US dollars 1.52 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of October was over US dollars 34.51 billion, up by 27.7% as compared to the first half of October. In 10 months of 2023, Vietnam was in trade surplus of USD 24.59 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2023

Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2023

Highlights 1. According to trade statistics of Vietnam Customs, in October of 2023, a 4.4% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of the last month. Exports went up 5.1%, to US dollars 32.25 billion and imports increased 3.6%, to US dollars 29.52 billion in terms of month-on-month basis. As a result, there was a US dollars 2.73 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of October, 2023

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

The Vietnam Customs Statistics announced that in the second half of October, 2023 the total Vietnam’s exports of US dollars 18.02 billion and imports of nearly US dollars 16.5 billion resulted in a trade surplus of US dollars 1.52 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of October was over US dollars 34.51 billion, up by 27.7% as compared to the first half of October. In 10 months of 2023, Vietnam was in trade surplus of USD 24.59 billion.
Read More

Your care

Latest Most read
Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in February of 2024, a 26.7% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of January 2024. Exports went down 28.5 %, to USD 24.69 billion and imports decreased 24.6%, to USD 23.30 billion in terms of month-on-month basis. As a result, there was a USD 1.38 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2024

The Vietnam Customs Statistics announced that in the second half of February, 2024 the total Vietnam’s exports of US dollars 14.73 billion and imports of nearly US dollars 13.68 billion resulted in a trade surplus of US dollars 1.05 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of February was over US dollars 28.41 billion, up by 46.7% as compared to the first half of February-2024. Furthermore, in the first 2 months of 2024, Vietnam was in trade surplus of USD 5 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024

The Vietnam Customs Statistics announced that in the second half of January, 2024 the total Vietnam’s exports of US dollars 19.3 billion and imports of nearly US dollars 16.03 billion resulted in a trade surplus of US dollars 3.27 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of January was over US dollars 35.33 billion, up by 18.6% as compared to the first half of January-2024. Furthermore, in the first month of 2024, Vietnam was in trade surplus of USD 3.63 billion.
Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2024

Highlights 1. According to trade statistics of Vietnam Customs, in the first month of 2024, a 7.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of December 2023. Exports went up 9.7 %, to USD 34.53 billion and imports increased 5.1%, to USD 30.90 billion in terms of month-on-month basis. As a result, there was a USD 3.63 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of December, 2023

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

The Vietnam Customs Statistics announced that in the second half of December, 2023 the total Vietnam’s exports of US dollars 16.31 billion and imports of nearly US dollars 13.66 billion resulted in a trade surplus of US dollars 2.65 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of December was over US dollars 29.98 billion, down by 1.8% as compared to the first half of December-2023. Furthermore, in 2023, Vietnam was in trade surplus of USD 28.3 billion.
Mobile Version