Import and export increased by nearly 15%, had a trade surplus of 809 million USD in the first quarter

The Ministry of Industry and Trade said that despite continuing to face many difficulties due to the complicated developments of the COVID-19 epidemic, high transportation costs, and affected by tensions and political conflicts between Russia and Ukraine… turnover import and export of Vietnam in the first quarter of 2022 still recorded a high growth compared to the same period last year, estimated at 176.35 billion USD, up 14.37% over the same period last year.

Generally, in the first quarter of 2022, export turnover of goods was estimated at USD 88.6 billion, up 12.9% over the same period. (Illustration image – Photo: Investment Newspaper)

In which, export turnover of goods reached USD 88.6 billion, up 12.9%; goods import reached USD 87.77 billion, up 15.9%. Merchandise trade balance in the first quarter of 2022 is estimated to have a trade surplus of US$809 million.

Notably, exports of the domestic business sector increased significantly (up 22%) than that of the foreign invested sector (up 10%), showing the efforts in restoring production and business. , resuming the supply chain in the context of the epidemic is still complicated.

Quarter 1 recorded 16 items with export turnover of over 1 billion USD, an increase of 5 items compared to the same period in 2021, accounting for 83.4% of total export turnover (5 items with export turnover of over 5 billion USD). USD, accounting for 57.9%).

In which, export turnover of agriculture, forestry and fishery group in the first quarter of 2022 was estimated at 7.27 billion USD, up 19.7% over the same period last year, accounting for 8.2% of total export turnover.

The highlight in the export of agricultural, forestry and fishery products is that seafood exports in March were estimated at $900 million, up 41% compared to February 2022 and 22.4% over the same period last year.

In general, in the first quarter of 2022, the country’s seafood export was estimated at 2.4 billion USD, up 38.7% over the same period last year (in which pangasius and shrimp were the fastest growing export items). . The main reason is that the markets currently have very high demand for Vietnamese seafood.

Although the conflict between Russia and Ukraine has a small impact on Vietnam’s seafood exports to Russia and Ukraine (Russia accounted for 2%, Ukraine accounted for 0.3%), it had a great impact on tuna exports. of Vietnam when these 2 markets – 2 of the 20 largest importers of Vietnam’s tuna.

Export turnover of processed industrial products in the first quarter of 2022 continued to make an important contribution to the overall growth rate of export activities with a turnover of USD 76.18 billion, up 11.6% compared to the first quarter. 2021 and account for 86% of the total export turnover.

The United States is Vietnam’s largest export market with a turnover of 25.57 billion USD, accounting for 28.87% of total export turnover and increasing by 15% over the same period last year; followed by China with 13.7 billion USD, up 9.2%; EU market reached 11.21 billion USD, up 16.3%; ASEAN market reached 8.1 billion USD, up 19.9%; Korea reached 6.26 billion USD, up 21%; Japan reached 5.4 billion USD, up 10.6%.

Besides, the import turnover of goods in March 2022 was estimated at 32.67 billion USD, up 28.7% over the previous month. In general, in the first quarter of 2022, the import turnover of goods was estimated at 87.77 billion USD, up 15.9% over the same period last year.

In which, accounting for 88.7% of Vietnam’s total import turnover in the first quarter of this year is the group of goods that need to be imported (raw materials and accessories for domestic production) with a turnover of 77.88 billion USD. increased by 16.8% over the same period in 2021.

China is still Vietnam’s largest import market with a turnover of 23.8 billion USD, up 47.3% over the same period last year; followed by Korea, ASEAN, Japan, EU, and the United States.

According to the Ministry of Industry and Trade, in general, the increase in imports due to enterprises’ increased import of raw materials, fuels and materials to promote production recovery and the high price of many raw materials is also a factor that causes import turnover to increase. exports increased.

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