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.

Vietnam‘s trade-in-goods in 2023 totaled US dollars 681.04 billion in value terms, down by 6.9% as compared to the performance of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in 2023 reached USD 466.27 billion, down by 8% in comparison to 2022.

Export:

As compared to the first half of December-2023, second half of the month increase in the total export value (8.4% - USD 1.27 billion equally) is reflected by upturn in computer, electrical products (up by 26.2% - USD 657 million equally); textiles and garments (up by 15.2% - USD 204 million); telephones, mobile phones and part thereof (up by 6.7% - USD 121 million); irons and steels (up by 24% - USD 82.2 million);

Totally, in 2023 total export value of Vietnam was USD 354.67 billion, down by 4.6% as compared to the same period of 2022 (equivalent to USD 17.04 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of Vietnam in the second half of December as compared to the first half of December

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

Import:

The first half to second half of December shrunk in the total of import value (11.7%) reflected downturn in computer, electrical products (down by 12.3% - USD 527 millions equally); crude oil (down by 55.2 - USD 320 millions); wheats (down by 66% - USD 97 million equally); fabrics (down by 13% - USD 79 million); …

From January to second half of December-2023, total import value into Vietnam was USD 326.37 billion, went down by 9.2% as compared to 2022 (equivalent to USD 33.2 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of Vietnam in the second half of December as compared to the first half of December

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

Source: Vietnam Customs

Source: Vietnam Customs

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