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Exports in the first quarter recovered strongly, 15 items over 1 billion USD

Production and business activities continued to recover strongly, many large export industries closed orders, trade surplus returned… are the marks in import and export in the first quarter of 2022.

According to a report by the General Statistics Office, the export turnover of goods in March 2022 was estimated at 34.06 billion USD, up 45.5% over the previous month. The domestic economic sector reached USD 8.68 billion, up 50.5%; FDI sector (including crude oil) reached 25.38 billion USD, up 43.8%.

Compared to the same period last year, the export turnover of goods in March increased by 14.8%, of which the region economy in the domestic market increased by 14.7%, the FDI sector (including crude oil) increased by 14.9%.

In the first quarter of 2022, export turnover of goods was estimated at 88.58 billion USD, up 12.9% over the same period last year. In which, the domestic economic sector reached 23.27 billion USD, up 22%, accounting for 26.3% of total export turnover; FDI sector (including crude oil) reached 65.31 billion USD, up 10%, accounting for 73.7%.

The whole country has 15 products with export turnover of over 1 billion USD, accounting for 80% of total export turnover (there are 5 export products with over 5 billion USD, accounting for 58%).

Export items over 5 billion USD:

Exports in the first quarter recovered strongly, 15 items over 1 billion USD - 1

Regarding the structure of export products in the first quarter, fuel and mineral products accounted for 1.4%, up 0.5% over the same period last year; processed industrial products accounted for 89%, agricultural and forestry products accounted for 6.9%, down 0.1%; aquatic products accounted for 2.7%, up 0.5%.

Import turnover of goods in March 2022 was estimated at 32.67 billion USD, up 28.7% over the previous month. Compared to the same period last year, import turnover of goods increased by 14.6%.

In the first quarter of 2022, import turnover of goods was estimated at 87.77 billion USD, up 15.9% over the same period last year, of which the domestic economic sector reached 29.43 billion USD, up 13.7 %; FDI sector reached 58.34 billion USD, up 17.1%. The number of imported goods over 1 billion USD is 16.

Exports in the first quarter recovered strongly, 15 items over 1 billion USD - 2

The main import and export market of goods in the first quarter of 2022.

The US continues to be Vietnam’s largest export market in the past 3 months, with an estimated turnover of 25.2 billion USD. China is Vietnam’s largest import market with an estimated turnover of 27.6 billion USD. Vietnam’s trade surplus with the EU was estimated at 7 billion USD, up 24.5% over the same period last year; trade deficit from China is 14.3 billion USD, up 21%; trade deficit from Korea was 10.4 billion USD, up 39.1%; trade deficit from ASEAN is 3.3 billion USD, down by 6.6%; trade deficit from Japan was 434 million USD, up 23.1%.

If the trade balance of goods in February 2022 has a trade deficit of 1.96 billion USD; In 2 months, the trade deficit was 581 million USD, in March 2022 it was estimated that the trade surplus was 1.39 billion USD.

In the first quarter of 2022, the trade balance of goods is estimated to have a trade surplus of US$809 million (the same period last year, a trade surplus of US$2.76 billion). In which, the domestic economic sector has a trade deficit of 6.16 billion USD; the FDI sector (including crude oil) had a trade surplus of 6.97 billion USD.

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