In the first 5 months of 2023, Vietnam has 7 export items of over 5 billion USD

Regarding the import and export market of goods in the first 5 months of 2023, the US is Vietnam's largest export market with an estimated turnover of 37.2 billion USD.

In the first 5 months of 2023, the domestic economic sector exported 35.19 billion USD, down 13.2%. (Source: VF)

The General Statistics Office announced on the morning of May 29 that trade promotion activities were strongly promoted, so the export and import turnover in May 2023 increased compared to April 2023. The total export and import turnover of goods in May 2023 is estimated at 55.86 billion USD, up 5.3% over the previous month and down 12.3% over the same period last year.

In the first 5 months of 2023, the total import and export turnover of goods is estimated at 262.54 billion USD, down 14.7% over the same period last year. Of which, goods export is estimated at 136.17 billion USD, down 11.6%; goods import is estimated at 126.37 billion USD, down 17.9% over the same period last year. The trade balance of goods in the first 5 months of 2023 is estimated to have a trade surplus of 9.8 billion USD.

Specifically, in the first 5 months, the domestic economic sector exported 35.19 billion USD, down 13.2%, accounting for 25.8% of total export turnover; the foreign-invested sector (including crude oil) reached 100.98 billion USD, down 11.1%, accounting for 74.2%.

There are 23 items with export turnover of over 1 billion USD, accounting for 87.4% of total export turnover (there are 7 items with export turnover of over 5 billion USD, accounting for 65.4%).

Regarding the structure of export goods in the first 5 months of 2023, the fuel and mineral group is estimated at 1.77 billion USD, accounting for 1.3%; the processed industrial group is estimated at 120.24 billion USD, accounting for 88.3%; the agricultural and forestry products group is estimated at 10.79 billion USD, accounting for 7.9%; the aquatic products group is estimated at 3.37 billion USD, accounting for 2.5%.

Regarding imported goods, in the first 5 months, the domestic economic sector imported 43.95 billion USD, down 18.5%; the foreign-invested sector imported 82.42 billion USD, down 17.5%.

There are 24 imported items with a value of over 1 billion USD, accounting for 81.2% of total import turnover (there are 3 imported items with a value of over 5 billion USD, accounting for 41.6%).

Regarding the structure of imported goods in the first 5 months of 2023, the group of production materials is estimated at 118.31 billion USD, accounting for 93.6%; of which, the group of machinery, equipment, tools and spare parts accounts for 43.9%; the group of raw materials, fuels and materials accounts for 49.7%, the group of consumer goods is estimated at 8.06 billion USD, accounting for 6.4%.

Regarding the import and export market of goods in the first 5 months of 2023, the US is Vietnam's largest export market with an estimated turnover of 37.2 billion USD. China is Vietnam's largest import market with an estimated turnover of 43.4 billion USD.

In the first 5 months of 2023, the trade surplus with the US is estimated at 31.2 billion USD, down 22% over the same period last year; the trade surplus with the European Union (EU) is 12.6 billion USD, down 3.6%; the trade surplus with Japan is 521 million USD (the same period last year, the trade deficit was 564 million USD); the trade deficit with China is 23.6 billion USD, down 16.7%; the trade deficit with South Korea is 10.8 billion USD, down 38.3%; the trade deficit with ASEAN is 3.4 billion USD, down 41.3%.

According to the General Statistics Office, the preliminary trade balance of goods in May 2023 is estimated to have a trade surplus of 2.24 billion USD. In the first 5 months of 2023, the trade balance of goods is estimated to have a trade surplus of 9.8 billion USD (the same period last year had a trade surplus of 0.24 billion USD); of which, the domestic economic sector had a trade deficit of 8.76 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 18.56 billion USD.

Faced with unpredictable developments in import and export activities, the Ministry of Industry and Trade continues to closely monitor developments in the world market, advise and propose cooperation frameworks and solutions to simultaneously develop traditional markets and diversify export markets. In addition, it supports businesses in taking advantage of signed free trade agreements (FTAs) to effectively exploit markets and boost exports.

In addition, the Ministry of Industry and Trade determined to continue diversifying export markets and products, focusing on developing exports through cross-border e-commerce, foreign distribution systems and promoting the development of Vietnamese brands, increasing the proportion of exports of goods with deep processing content, high technology and high localization rate.

In addition, the agency also develops e-commerce into an important distribution channel, actively supporting the consumption of goods, especially agricultural products and consumer industrial goods; develops new consumer centers; and digitizes trade promotion activities.

Source: https://baoquocte.vn/5-thang-dau-nam-2023-viet-nam-co-7-mat-hang-xuat-khau-tren-5-ty-usd-228921.html