[NEWS] – Merchandise trade balance in the first 8 months of 2022 is estimated to have a trade surplus of 3.96 billion USD

Total import and export turnover of goods is estimated at 64.34 billion USD in August 2022, up 5.2% over the previous month and up 17.3% over the same period last year. In the first eight months of 2022, the total import and export turnover of goods was estimated at US$497.64 billion, up 15.5% over the same period last year, of which exports increased by 17.3%; imports increased by 13.6%. The balance of trade in goods in the first eight months of 2022 is estimated to maintain a trade surplus of about 3.96 billion USD

Goods export

Merchandise export turnover in August 2022 was estimated at 33.38 billion USD, up 9.1% over the previous month. Which, the domestic economic sector reached $9.04 billion, up 13.2%; the FDI sector (including crude oil) reached 24.34 billion USD, up 7.6%. Compared with the same period last year, the export turnover of goods in August increased by 22.1%, of which the domestic economic sector increased by 26.5%, and the foreign-invested sector (including crude oil) increased by 20.6%.

In the first 8 months of 2022, export turnover of goods is estimated at USD 250.8 billion, up 17.3% over the same period last year. The domestic economic sector reached 66.14 billion USD, up 18.4%, accounting for 26.4% of total export turnover; the FDI sector (including crude oil) reached 184.66 billion USD, up 17%, accounting for 73.6%.

In the first 8 months of 2022, there are 30 items with an export turnover of over 1 billion USD, accounting for 91.8% of total export turnover (there are 6 export items with over 10 billion USD, accounting for 63.4%).

Regarding the structure of export groups in the first eight months of 2022, fuel and mineral products accounted for 1.4%, up 0.3 percentage points over the same period last year; processed industrial products accounted for 89%, equal to the same period last year; agricultural and forestry products accounted for 6.6%, down 0.7 percentage points; aquatic products accounted for 3%, up 0.4 percentage points.

Goods import

Import turnover of goods in August 2022 was estimated at 30.96 billion USD, up 1.4% over the previous month and up 12.4% over the same period last year. Which, the domestic economic sector reached US$ 9.96 billion, down 6.4%; the FDI sector reached 21 billion USD, up 5.6%.

In the first eight months of 2022, the import turnover of goods was estimated at 246.84 billion USD, up 13.6% over the same period last year (up 34.4 percent in the same period last year), of which the economic sector domestic reached 85.58 billion USD, up 12.5%; FDI sector reached 161.26 billion USD, up 14.2%.
In the first eight months of 2022, there are 38 items worth over 1 billion USD, accounting for 90.8% of the total import turnover (4 imported items over 10 billion USD, accounting for 45.2%).

Grasping the development of the import-export industry in 2022 and the future, Indochina Holdings would like to introduce a connection service for trade promotion. With a team of experienced consultants, we are ready to act as a bridge, answer questions, and correct shortcomings that businesses face. Indochina Holdings has successfully connected and supported the export of typical Vietnamese rice products ST25 to the US market of Gao Ngon Nhat Company.

Thanh Long