In 2022, import and export may exceed 700 billion USD

Many experts forecast that, with the current growth rate, the turnover import and export The whole country in 2022 can reach over 700 billion USD, a new record milestone.

By the end of March, the country’s export turnover reached 89.1 billion USD, up 13.4% over the same period last year, of which, the turnover of FDI enterprises reached nearly 65.4 billion USD, up 10.6 %. In the first quarter of 2022, the whole country had 16 items with export turnover of over 1 billion USD, accounting for 83.4% of total export turnover, bringing the trade balance of goods to a trade surplus of about 809 million USD. …

On the import side, in the first three months of the year, the turnover reached 87.64 billion USD, up 15.2% over the same period last year, of which FDI enterprises gained 57.7 billion USD, up 15.3%. Those numbers show that production and business activities continue to recover strongly, contributing to the overall growth of the whole economy.

Regarding the market, in the first quarter, the US was Vietnam’s largest export market 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.

Also in the first quarter, Vietnam had a trade surplus with the EU of 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%; trade deficit from ASEAN was 3.3 billion USD, down 7%; trade deficit from Japan was 434 million USD, up 23%.

Promoting the provision of information for businesses is one of the solutions that the Ministry of Industry and Trade will promote to implement to increase import and export turnover in the coming time.

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