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Saturday, January 28, 2023

Vietnam enjoys trade surplus of US$11.2 billion this year

The Saigon Times

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HCMC – A strong export performance sent Vietnam’s trade surplus to US$11.2 billion in 2022, according to the General Statistics Office.

The country’s export revenue totaled US$371.85 billion this year, up 10.6% year-on-year. Domestic companies shipped goods worth US$95.09 billion, rising by 6.5% against 2021 and accounting for 25.6% of the total export value, while foreign-invested firms, including in the oil industry, generated export revenue of US$276.76 billion.

As many as 36 product lines reported an export value of over US$1 billion each, representing 94% of the total export revenue.

On the import side, Vietnam bought goods worth US$360.65 billion from foreign markets in 2022, up 8.4% year-on-year. Of the total, domestic businesses made up US$125.79 billion, while foreign companies represented US$234.86 billion.

In December alone, Vietnam exported goods worth US$29.7 billion, up 2.2% month-on-month, and spent US$29.2 billion on imports, up 3.1% month-on-month.

Ngo Chung Khanh, a representative from the Ministry of Industry and Trade, said that in the months to come, the ministry would closely collaborate with other relevant ministries and agencies to update information about free trade agreements (FTA) and upgrade the FTA portal to pave the way for firms to further tap the European market via the European Union-Vietnam Free Trade Agreement.

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