Asia remains Viet Nam’s biggest market as export accelerates

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Asia is Viet Nam’s largest export market in the first half of 2022 as it purchased US$239.45 billion of goods, representing a year-on-year increase of 16.1 percent, and accounting for 64.5 percent of the country’s total export revenue, according to the General Department of Viet Nam Customs (GDVC).

In the latest data, the GDVC announced that in June, Viet Nam’s total trade turnover valued US$ 65.07 billion, up 2.4 percent or US$ 1.53 billion more than the previous month. 

Viet Nam’s trade with the Americas hit US$ 79.72 billion (up 20 percent), followed by Europe with US$ 39.07 billion (up 9.7 percent), Oceania nearly US$ 9 billion (up 35.1 percent), and Africa with US$ 4.08 billion (down 0.3 percent).  

In the January-June period, trade revenue hit US$ 371.32 billion, up 16.4 percent or US$ 52.32 billion against the same period last year. Viet Nam ran a trade surplus of US$ 743 million.

Particularly, the FDI sector pocketed US$ 255.83 billion from exports, representing a year-on-year increase of 16 percent, equivalent to US$ 35.26 billion against the same period last year. 

In the reviewed period, total export turnover was US$ 186.03 billion, up 17.3% against the same period last year or US$ 27.46 billion. 

Meanwhile, import volume was estimated at US$ 185.29 billion, posting a year-on-year growth of 15.5 percent or US$ 24.86 billion. 

Noticeably, 63,731 cars were imported in Viet Nam in the first half, down 21.4 percent against the same period last year, equivalent to 17,352. 

Viet Nam spent US$ 5 billion importing 4.81 billion tons of different types of petrol, up 17.6 percent in quantity and 128.6 percent in value in comparison with the same period last year./. 

VGP

For more information, please contact Vietnam Trade Office in Singapore at [email protected]