[NEWS] - Import and export of goods increased by 15.6% in the first months of the year

The total import-export turnover of the whole country showed positive signs when it reached 305 billion USD in the first months of 2022, up 15.6% over the same period last year, promising to reach 700 billion USD for the whole year.

According to data from the General Statistics Office, the Ministry of Planning and Investment, in May, the total export and import turnover of goods was estimated at 62.69 billion USD, up 14.5% over the same period last year.

Merchandise export turnover in May 2022 was estimated at 30.48 billion USD, down 8.5% over the previous month and up 16.4% over the same period last year. In which, the domestic economic sector increased by 14.5%, the foreign-invested sector (including crude oil) increased by 17.1%.

The increase in export turnover of the country creates favorable conditions for enterprises to develop (Photo: Internet)

Generally, in the first 5 months of 2022, export turnover of goods was estimated at $152.81 billion, up 16.3% over the same period last year. In which, the domestic economic sector reached USD 40.25 billion, up 20.8%, accounting for 26.3% of total export turnover; FDI sector (including crude oil) reached 112.56 billion USD, up 14.8%, accounting for 73.7%.

Notably, from the beginning of the year until now, our country has 26 items with export turnover of over 1 billion USD, accounting for 89.6% of total export turnover. Of these, 6 export items are over 5 billion USD, accounting for 62.3%.

Compared to the same period last year, the import turnover of goods in May increased by 12.9%, of which the domestic economic sector increased by 15.4%; the foreign-invested sector increased by 11.4%.

Generally, in 5 months, import turnover of goods was estimated at 152.29 billion USD, up 14.9% over the same period last year. In which, the domestic economic sector reached 53.36 billion USD, up 14.7%; FDI sector reached 98.93 billion USD, up 14.9%.

Also according to the General Statistics Office, in the first 5 months of 2022, there were 28 imported items with a value of over 1 billion USD, accounting for 85.7% of the total import turnover.

Regarding the import-export market of goods in the first 5 months of 2022, according to the General Statistics Office, the United States is Vietnam’s largest export market, with an estimated turnover of 46.7 billion USD. China is Vietnam’s largest import market with an estimated turnover of 49.6 billion USD.

In the first 5 months of 2022, Vietnam’s trade surplus with the EU was estimated at 13.4 billion USD, up 43.6% over the same period last year; trade deficit from China is 27.1 billion USD, up 15.5%; trade deficit from Korea was 17.9 billion USD, up 46.6%; trade deficit from ASEAN is 6.5 billion USD, up 6.4%; trade deficit from Japan was 742 million USD, up 18.2%.

According to the General Statistics Office, the trade balance in 5 months was estimated to have a trade surplus of 516 million USD (the same period last year, the trade deficit was 1.24 billion USD). In which, the domestic economic sector has a trade deficit of 13.11 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of $13.63 billion.

With the strong increase of the total export value of goods, Indochina Holdings is a trade bridge between the business community in Vietnam and businesses abroad. We provide services such as connection services on trade promotion, opening up opportunities for business advancement of Vietnamese enterprises. Indochina Holdings always accompanies and tries its best to create opportunities and serve as a solid bridge for domestic and foreign enterprises. We are committed to bringing long-term sustainable values ​​in business and financial activities to member businesses.

Cao Duy