top of page

Vietnam's import and export of goods reached a new record of $700 billion

According to the General Department of Vietnam Customs, with the impressive import and export results recorded in 2022, Vietnam's import and export rank can be improved on a global scale.

Source: VNA


According to the General Department of Vietnam Customs, it is expected that on December 15, the total import and export value of Vietnam's goods has reached $700 billion. This figure has broken the record of $600 billion set last year.


According to the General Department of Vietnam Customs, with the impressive import and export results recorded in 2022, Vietnam's import and export rank can be improved on a global scale.


The General Department of Vietnam Customs said that Vietnam's merchandise trade balance achieved a continuous surplus after a long period of deficit.


From 2011 onward, Vietnam's trade balance of goods has always been in a state of deficit, lasting continuously, the number of trade deficits is up to billions of USD, peaking at $18.02 billion recorded in 2008.


But from 2012 to now, Vietnam's trade balance of goods has changed direction, turning to a continuous surplus (except in 2015, with a deficit of $3.55 billion).


In 2020, Vietnam's trade balance of goods reached a record with a surplus of $19.94 billion. By the end of 2021, the trade surplus decreased to $3.32 billion.


In the first 11 months of 2022, with the increase in the scale of exports higher than imports, the trade balance surplus increased again, reaching $10.68 billion. The total import-export value of the group of enterprises with foreign direct investment (FDI) reached $468.7 billion, up 12.1% over the same period in 2021.


According to the General Department of Vietnam Customs, for many years, the United States has always been the largest export market and China is the largest import market of Vietnam's goods.


From the beginning of the year to the end of the 11th month of 2022, the export of goods to the US market reached $101 billion, up 17.7% (equivalent to $15.2 billion) over the same period in 2021. In the opposite direction, imports of goods of Chinese origin reached $109.46 billion, up 10% (equivalent to $9.93 billion).


Thus, exports to the United States and imports originating from China in the 11 months of 2022 both exceeded the threshold of $100 billion, reaching an all-time record.


To achieve the above results, over time, the Government has directed the Ministry of Finance to coordinate with ministries, sectors, and localities to focus on synchronously implementing solutions to promote institutional reform and administrative procedure reform, thereby creating an equal, open and transparent business environment, creating more favorable conditions for the business community.


According to the World Trade Organization's announcement, in 2006, Vietnam's economy was ranked 50th in the world in terms of commodity exports and 44th in terms of goods imports.


After more than 10 years, by 2018, Vietnam has made an impressive increase, ranking 26th in export and 23rd in imports. Vietnam is continuously in the group of 30 countries and territories with the largest import and export value on a global scale.


With the recent ranking in 2021, the World Trade Organization has recorded that Vietnam's exports ranked 23rd in the world and Vietnam's imports ranked 20th in the world.


In ASEAN, Vietnam's goods exports have the second position after Singapore, and Vietnam's goods imports have the second position (after Singapore).


Over the years, Vietnam's import and export of goods have made strong progress in terms of scale and speed. Vietnam's total import and export value in 20 years (from 2002 to 2021) has reached USD5.146 billion.


In the 10 years from 2012 to 2021 alone, Vietnam's total import and export value reached $4,110 billion, nearly 4 times higher than the import and export of the previous 10 years combined.


Source: VNA

Comentarios


bottom of page