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

The Vietnam Customs Statistics announced that in the second half of October, 2022 the total Vietnam’s exports of US dollars 16.35 billion and imports of nearly US dollars 13.96 billion resulted in a trade surplus of US dollars 2.39 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of October was over US dollars 30.32 billion, up by 9.3% as compared to the first half of October. In 10 months of 2022, Vietnam was in trade surplus of USD 9.59 billion.

Vietnam‘s trade-in-goods in the first 10 months of 2022 totaled US dollars 616.3 billion in value terms, up by 14.1% 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 10 months of 2022 reached USD 428.99 billion, up by 14.6% in comparison to the same period of 2021.

Export:

As compared to the first half of October-2022, second half of the month increase in the total export value (15.9% - USD 2.25 billion equally) is reflected by upturn in computer, electrical and part thereof (up by 49% - USD 935 million); machine, tools and equipments (up by 12.3% - USD 227 million equally); crude oil (up by 354.1% - USD 183 million); textiles and garments (up by 11.5% - USD 147 million)…

Totally, in the first 10 months of 2022 total export value from Vietnam was USD 312.94 billion, up by 16% as compared to the same period of 2021 (equivalent to USD 43.1 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of second half of October 2022 as compared to the first half of October.

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

Import:

The first half to second half of October widen in the total of import value (2.4%) reflected upturn in crude oil (up by 60.3% - USD 149 million); corn (up by 100% - USD 91 million equally); telephone, mobile phones and part thereof (up by 7.6% - USD 73 million equally).

From January to second half of October-2022, total import value into Vietnam was USD 303.35 billion, went up by 12.2% as compared to the same period of 2021 (equivalent to USD 32.88 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of second half of October 2022 as compared to the first half of October.

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

Source: Vietnam Customs

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