Vietnam’s import-export turnover during the first five months of this year reached US$305.1 billion, a year-on-year increase of 15.6 percent, according to a report released on May 29 from the General Statistics Office of Vietnam (GSO).
Despite suffering the negative impact of the Covid-19 pandemic and the Russia-Ukraine conflict which affects international trade, import and export activities of Ho Chi Minh city still achieved impressive growth in the first quarter of this year.
Since the beginning of the new year, many enterprises have accelerated production to meet the delivery schedule. Along with that, units have been striving to connect with supply chains to increase the source of raw materials.
The General Statistics Office of Vietnam has just announced that the number of newly registered enterprises in November increased significantly compared to the previous month. The number of enterprises that resumed operations rose by 15.2 percent over the previous month, signaling the recovery of business and production activities after implementing Resolution No.128/NQ-CP for more than a month.
The signing of many free trade agreements (FTAs) with other countries has helped several Vietnamese goods, including agricultural and aquatic products, open their doors widely to the world. In the opposite direction, the domestic market has also been importing a large volume of agricultural and fishery products from foreign countries, especially countries with trade relationships with Vietnam, creating more product diversity and more choices for consumers.
The General Department of Vietnam Customs, on the afternoon of March 29, said that in March, the total imports and exports of Vietnam were estimated at US$55.5 billion, up 35.9 percent from the previous month.
The Department of Industry and Trade of Ba Ria – Vung Tau Province informed that the total export turnover of the province excluding crude oil was around US$838.18 million in the first two months of the year, an increase of 19.68 percent over the same period last year.
The General Statistics Office of Vietnam on February 28 informed that in the first two months of this year, the total import and export turnover was estimated at US$95.81 billion, up 24.5 percent year-on-year. Of which, exports hit $48.55 billion, up 23 percent, and imports reached $47.26 billion, up nearly 26 percent. The trade surplus in the first two months was estimated at $1.29 billion.
The trade balance of goods in July is estimated to have a trade surplus of US$1 billion. In the first seven months of this year, the trade balance saw a trade surplus of $6.5 billion, of which, the domestic economic sector had a trade deficit of $11.1 billion, and the foreign-invested sector, including crude oil, recorded a trade surplus of $17.6 billion.
According to the Ministry of Industry and Trade, despite the impacts of the Covid-19 pandemic, export turnover still reached US$19.7 billion in April this year, of which 15 products had an export turnover of above $1 billion.
According to the Department of Industry and Trade of Ho Chi Minh City, total retail sales and services revenue were estimated at VND112.77 trillion in January this year, an increase of 11.2 percent compared to the same period last year.
In the first six months, Vietnam enjoyed a trade surplus of US$2.7 billion and saw 20 commodities earning export value of over US$1 billion each, according to a meeting by the Ministry of Trade and Industry in Hanoi on July 9.
Vegetable and fruit export turnover posted a year on year increase of 47 percent to top $2.3 billion while import doubled the same period last year to hit $1.06 billion during the first eight months this year, reported the General Statistics Office of Vietnam.