Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2022

The Vietnam Customs Statistics announced that in the second half (16-31/8/2022) of August-2022, Vietnam’s total exports of US dollars 19.7 billion and imports of US dollars 15.73 billion resulted in a trade surplus of US dollars 3.97 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of August was US dollars 35.42 billion, up by 16.6% as compared to the first half of August-2022.

Vietnam‘s trade-in-goods from January to the second half of August of 2022 totaled US dollars 499.71 billion in value terms. It posted an increase of 15.9% (equivalent to USD 68.69 billion) from the same period of previous year. In which, the total merchandise exports value was up 18.2% to US dollars 252.6 billion and the total merchandise imports value was up 13.7%, to US dollars 247.11 billion.

In the view of FDI traders, the value of exportation and importation from January to the second half of August of 2022 reached USD 346.32 billion, up by 16.2% as compared to the same period of last year.

Export:

When compared with the first half of August-2022, export of second half of August increased by 30.2%, mostly as a result of the upturn registered in computers, electrical products (up by 64.4% - USD 1.2 billion equally); telephones, mobile phones and parts thereof (up by 24.5% - USD 665 million equally); machine, tools & equipments (up by 30.5% - USD 592 million equally ); textiles and garments (up by 21.2% - USD 382 million equally)…

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to August 31st 2022 as compared to the same period of 2021.

Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2022

Import:

In the second half of August 2022, import increased by 3.2% when compared with the first half of August, mainly reflecting the upturn in machine, tools & equipments (up by 9.5% - USD 188 million equally ); computers, electrical products (up by 2.9% - USD 100 million equally); other base metals (up by 15.3% - USD 59 million equally)…

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to August 31st 2022 as compared to the same period of 2021.

Source: Vietnam Customs

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