VGP - Viet Nam’s export turnover is expected to reach around US$368 billion in 2022, representing a year-on-year increase of 9.46 percent, according to the Ministry of Industry and Trade (MoIT).
Source: Illustration
The MoIT evaluated that the export turnover growth rate would outstrip the Government’s preset goal of about 8 percent.
On the other hand, import turnover is projected to hit US$367 billion, resulting in a trade surplus of US$1 billion this year.
In the second half of 2022, demands for made-in-Vietnamese goods are forecast to be on the rise thanks to the enforcement of FTAs, namely CPTPP, EVFTA, UKVFTA, and RCEP.
In the first half of 2022, total trade volume reached over US$371.3 billion of which export value grew 17.3 percent against the same period last year to over US$186 billion.
The ministry assessed that Vietnamese exporters have fully optimized FTAs, especially new-generation FTAs to spur export.
In the reviewed period, 29 categories of commodities gained export turnover of over US$1 billion each and accounted for 91.2 percent of the nation's total export value.
(Government News)