Introduction of Vietnam Import and Export Trade

International Business News  –  According to the data released by the General Administration of Vietnam Customs, as of July 15, 2022, the total import and export volume of Vietnam has reached 403 billion US dollars, of which the trade deficit is about 1 billion US dollars.

In the first half of July in particular, exports reached nearly $14.3 billion, bringing the total exports from the beginning of the year to July 15 to $201 billion.

The categories of export products with an export value of more than 1 billion US dollars in the past half month include: mobile phones and parts and components of 1.86 billion US dollars; machinery, equipment, tools and accessories reached 1.84 billion US dollars; textiles and clothing reached nearly 1.8 billion US dollars; computers, electronic products and Parts reached $1.66 billion; footwear reached $1.09 billion.

Commodities worth hundreds of millions of dollars include wood and wood products; seafood; means of transport and accessories; steel products, etc.

Imports hit $16.3 billion in the first half of July, bringing the year-to-July 15 import value to $202 billion. In the first half of July, the exports of goods worth billions of dollars were: computers, electronic products and parts, which reached 3.84 billion US dollars; and machinery, equipment, tools and parts, which reached 2.1 billion US dollars.

Enterprises make full use of free trade agreements (FTAs), especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam-EU Free Trade Agreement (EVFTA), the Vietnam-UK Free Trade Agreement ( UKVFTA) and other new-generation free trade agreements to boost exports.

The export value of various commodities increased steadily, among which fuel and minerals increased the most (up 53.8% year-on-year), because the export prices of petroleum, crude oil, coal, minerals and other commodities increased, while the export volume decreased year-on-year.

The growth rate of agriculture, forestry, fishery and processing manufacturing industry exceeded 17%, especially textiles and clothing, footwear, leather, footwear, aquatic products, etc.

It is estimated that in 2022, the import and export volume will exceed 700 billion US dollars, and the export value will be close to the 400 billion US dollar mark.