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

The Vietnam Customs Statistics announced that in the second half of May, 2023 the total Vietnam’s exports of US dollars 16.43 billion and imports of nearly US dollars 13.38 billion resulted in a trade surplus of US dollars 3.05 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of May was over US dollars 29.81 billion, up by 24.7% as compared to the first half of May-2023. Furthermore, in the first 5 months of 2023, Vietnam was in trade surplus of USD 9.65 billion.

Vietnam‘s trade-in-goods in the first 5 months of 2023 totaled US dollars 260.79 billion in value terms, climbed down by 15.3% as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 5 months of 2023 reached USD 180.59 billion, down by 15.1% in comparison to the same period of 2022.

Export:

As compared to the first half of May-2023, second half of the month increase in the total export value (43.4% - USD 4.98 billion equally) is reflected by upturn in computer, electrical products and thereof (up by 38.1% - 714 million equally); machine tools equipments (up by 48.4% - USD 632 million); textile and garments (up by 46.7% - USD 547 million equally).

Totally, in the first 5 months of 2023 total export value from Vietnam was USD 135.22 billion, climbed down by 12.3% as compared to the same period of 2022 (equivalent to USD 18.88 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of the second half over the first half of May 2023

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

Import:

The first half to second half of May widen in the total of import value (7.5%) reflected upturn in machine tools equipments (up by 8% - USD 137 million); crude oil (up by 8% - USD 106 million equally); liquefied petroleum gas (up by 502.6% - USD 75 million).

From January to second half of May-2023, total import value into Vietnam was USD 125.57 billion, went down by 18.4% as compared to the same period of 2022 (equivalent to USD 28.29 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of the second half over the first half of May 2023

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

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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.

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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.
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 first 9 months of 2023

Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2023

Highlights 1. According to trade statistics of Vietnam Customs, in September of 2023, a 4.7% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of the last month. Exports went down 6.3%, to US dollars 30.68 billion and imports decreased 2.9%, to US dollars 28.48 billion in terms of month-on-month basis. As a result, there was a US dollars 2.2 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of September, 2023

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

The Vietnam Customs Statistics announced that in the second half (16-30/9/2023) of September-2023, Vietnam’s total exports of US dollars 16.3 billion and imports of US dollars 14.55 billion resulted in a trade surplus of US dollars 1.76 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of September was US dollars 30.85 billion, up by 9.9% as compared to the first half of September-2023.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of September, 2023

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

The Vietnam Customs Statistics announced that in the first half (01-15/9/2023) of September-2023, Vietnam’s total exports of US dollars 14.29 billion and imports of US dollars 13.78 billion resulted in a trade surplus of nearly US dollars 222 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of September was US dollars 28.07 billion, down by 15.4% as compared to the second half of August-2023.
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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.
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