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.
Vietnam‘s trade-in-goods in the first 11 months of 2023 totaled US dollars 619.36 billion in value terms, down by 8.2% 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 11 months of 2023 reached USD 425.27 billion, down by 9.3% in comparison to the same period of 2022.

Export:

As compared to the first half of November-2023, second half of the month increase in the total export value (11.7% - USD 1.72 billion equally) is reflected by upturn in computer, electrical and part thereof (up by 10.6% - USD 257 million); machine, tools and equipments (up by 10% - USD 184 million equally; textiles and garments (up by 12.8% - USD 166 million equally); telephones mobile phones and part thereof (up by 7.2% - USD 152 million equally); …

Totally, in the first 11 months of 2023 total export value from Vietnam was USD 322.61 billion, down by 5.8% as compared to the same period of 2022 (equivalent to USD 20.01 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of second half of November 2023 as compared to the first half of November.

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

Import:

The first half to second half of November shrunk in the total of import value (1.2%) reflected downturn in crude oil (down by 54% - USD 221 million); computer, electrical products and part thereof (down by 3.2% - USD 137 million equally); corn (down by 66.9% - USD 83 million); telephone, mobile phones and part thereof (down by 16.4% - USD 80.8 million equally).

From January to second half of November-2023, total import value into Vietnam was USD 296.75 billion, went down by 10.7% as compared to the same period of 2022 (equivalent to USD 35.55 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of second half of November 2023 as compared to the first half of November.

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

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.

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

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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.
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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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