Five month import-export turnover up 15.6 per cent in Vietnam

Image from Vietnam News/ANN

HANOI, May 29 (Vietnam News/ANN): 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 per cent, according to a report released on Sunday from the General Statistics Office of Vietnam (GSO).

Of the total, Vietnam reported US$152.81 billion in export revenue, a year-on-year increase of 16.3 per cent.

Twenty-six groups of commodities posted an export value of over US$1 billion each, with six with over US$5 billion, in the first five months of 2022.

Together they accounted for 89.6 per cent of the country’s total export, of which manufacturing industry accounted for 88.6 per cent (0.5 per cent decrease from the same period last year), seafood 3.1 per cent (0.6 per cent increase) and agricultural and forestry products 6.9 per cent (0.5 per cent decline).

Meanwhile, imports turnover reached US$152.29 billion, a 14.9 per cent increase year-on-year with the domestic sector accounting for US$53.36 billion and the foreign-invested one US$98.93 billion, up 14.7 per cent and 14.9 per cent, respectively.

The US remained Vietnam's largest export market with an estimated turnover of US$46.7 billion, while China was the largest import market with US$49.6 billion in the first five months of 2022.

The country posted a trade surplus of US$516 billion in the period.

Specifically, it reported a trade plus of US$13.4 billion with the European Union, a 43.6 per cent increase year-on-year, but a trade deficit of US$27.1 billion with China, US$17.9 billion with the Republic of Korea and US$6.5 billion with Asean. - Vietnam News/ANN

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Vietnam , Import-Export , Jan-May , 2022 , Numbers Rising


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