Import-Export Value Reaches US$65.98 Billion in Aug 2022

9:11:48 AM | 9/23/2022

Vietnam’s total merchandise import and export value was US$65.98 billion in August 2022, up 7.9% or US$4.84 billion from the previous month, said the General Department of Vietnam Customs. Specifically, the export value was US$34.92 billion, up 14.1% or US$4.31 billion and the import value was US$31.06 billion, up 1.7% or US$526 million.

The country’s merchandise import and export value grossed US$499.71 billion in the first eight months of 2022, representing a year-on-year increase of 15.9% or US$68.69 billion over the same period in 2021. Of the sum, the exports brought home US$252.60 billion, up 18.2% or US$38.85 billion, and imports were worth US$247.11 billion, up 13.7% or US$29.84 billion.

According to the General Department, the foreign direct investment (FDI) sector traded US$46.85 billion of merchandise imports and exports in August, up 10.8% over July, totaling US$346.23 billion from January to August, up 16.2% year on year.

They earned US$26.13 billion from exports in the month, up 16.7% from the previous month, grossing US$185.44 billion in the January-August period, up 18.2% or US$28.55 billion year on year and equal to 73.4% of the nation’s export value.

In the opposite direction, they spent US$20.72 billion on imports in August, up 4.2% month over month, expending US$160.89 billion in the eight-month phase, up 13.9% or US$19.68 billion year on year and accounting for 65.1% of the country’s total imports.

FDI firms took a trade surplus of US$5.42 billion in August and US$24.55 billion in all eight months of 2022.

Key exports included telephones and components; computers, electronic products and components; machinery, equipment, tools and parts; garments; footwear; seafood; rice; and steel.

Meanwhile, the main imports consisted of computers, electronic products and components; machinery, equipment, tools and spare parts; raw materials for textile and garment, leather and footwear industries; telephones and parts; automobiles; petroleum products; coal; and steel.

Hien Phuc (Vietnam Business Forum)