Preliminary assessment of Vietnam international merchandise trade performance in the first half of November 2022

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The Vietnam Customs Statistics announced that in the first half (01-15/11/2022) of November-2022, Vietnam’s total exports of US dollars 13.63 billion and imports of US dollars 14.78 billion resulted in a trade deficit of nearly US dollars 1.15 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of November was US dollars 28.4 billion, down by 6.3% as compared to the second half of October-2022.

Vietnam‘s trade-in-goods from January to the first half of November of 2022 totaled US dollars 644.7 billion in value terms. It posted an increase of 13.1% (equivalent to USD 74.63 billion) from the same period of previous year. In which, the total merchandise exports value was up 14.8% to nearly US dollars 326.68 billion and the total merchandise imports value was up 11.4%, to US dollars 318.02 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of November of 2022 reached USD 448.55 billion, up by 13.6% as compared to the same period of last year.

Export:

When compared with the second half of October-2022, export of first half of November decreased by 16.7%, mostly as a result of the downturn registered in computers, electrical products (down by 41.2% – USD 1.17 billion equally); machine, tools & equipments (down by 14.3% – USD 296 millions); telephone, mobile phones and part thereof (down by 10.9% – USD 290 millions); crude oil (down by 49.2% – USD 115 million).

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to November 15th 2022 as compared to the same period of 2021.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2022

Import:

In the first half of November 2022, import increases by 5.8% when compared with the second half of October, mainly reflecting the upturn in machine, tools & equipments (up by 16.9% – USD 284 millions); crude oil (up by 54.8% – USD 217 million equally); motor vehicle (up by 99.8% – USD 153 million equally)…

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to November 15th 2022 as compared to the same period of 2021.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2022

Source: Vietnam Customs

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