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Thursday, June 13, 2024

Vietnam’s 2022 foreign trade expands 9.1% y-o-y

The Saigon Times

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HCMC – Vietnam’s foreign trade in goods topped US$730 billion, up 9.1% year-on-year, with a trade surplus of US$12.4 billion, according to preliminary data released by the General Department of Vietnam Customs.

Imports rose 7.8% over 2021 to US$358.9 billion while exports soared 10.5% over the same period last year to US$371.3 billion.

In December 2022, the second half saw a significant improvement in exports over the first half of the month, up 12.4% with US$15.3 billion, thanks to a strong surge in the export value of machinery and equipment (26.3%), computers, electrical products and parts thereof (16.3%) and textiles and garments (12.1%).

The total value of imports dropped 5.6% to nearly US$13.2 billion compared to the first half of December due to a plunge in the import value of crude oil (66.6%), petroleum products (39.3%) and machinery and equipment (11.7%).

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