Preliminary assessment of Vietnam international merchandise trade performance in the second half of May, 2022

Tuesday, June 28, 2022  14:07

The Vietnam Customs Statistics announced that in the second half of May, 2022 the total Vietnam’s exports of US dollars 18.02 billion and imports of nearly US dollars 17.16 billion resulted in a trade surplus of US dollars 862 million. Accordingly, the total value of export and import turnover of  Vietnam in the second half of May was over US dollars 35.17 billion, up by 24.2% as compared to the first half of May-2022.  Furthermore, in the first 5 months of 2022, Vietnam was in trade surplus of USD 446 million.

Vietnam‘s trade-in-goods in the first 5 months of 2022 totaled US dollars 306.16 billion in value terms, up by 16% as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 5 months of 2022 reached USD 211.43 billion, up by 15.2% in comparison to the same period of 2021.

Export:

As compared to the first half of May-2022, second half of the month increase in the total export value (40.9% - USD 5.23 billion equally) is reflected by upturn in computer, electrical and part thereof (up by 68% - USD 1.23 billion); machine, tools and equipments (up by 42.2% - USD 628 million equally); textile and garments (up by 37.5% - USD 493 million); telephone mobile phones and parts thereof (up by 22.9% - USD 425 millions); foor-wear (up by 44.4% - USD 384 million)…

Totally, in the first 5 months of 2022 total export value from Vietnam was USD 153.3 billion, up by 16.7% as compared to the same period of 2021 (equivalent to USD 21.9 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of  second half of May 2022 as compared to the first half of May.

                         

 

Import:

The first half to second half of May widen in the total of import value (10.5%) reflected upturn in computer, electrical and part thereof (up by 10.6% - USD 349 million); machine, tools and equipments (up by 14.3% - USD 167 million equally); base metal (up by 42.3% - USD 167 million equally); chemical (up by 34.6% - USD 134 million).

From January to second half of May-2022, total import value into Vietnam was USD 152.86 billion, went up by 15.3%  as compared to the same period of 2021 (equivalent to USD 20.26 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of second half of May 2022 as compared to the first half of May.

                       

Source: Vietnam Customs Statistics