Business
- Wednesday, May 3, 2023 17:00 (GMT+7)
- 22 hours ago
The trade balance of goods in the first four months of this year is estimated to have a trade surplus of about 6.35 billion USD, while in the same period last year, the trade surplus was 2.35 billion USD.
According to the latest data released by the General Statistics Office, the total export and import turnover of goods in April is estimated at only 53.57 billion USD . If calculated for the first 4 months of 2023, the total export and import turnover of goods is estimated at more than 210 billion USD , down 13.6% over the same period last year.
The General Statistics Office explained that this decline in import-export turnover is mainly due to the world economy still facing many difficulties, consumer demand decreasing, leading to a decrease in orders. This affects both industrial production and import-export of Vietnam.
Vietnam's trade balance of goods in April was estimated to have a surplus of 1.51 billion USD . Thereby, raising the trade surplus in the first 4 months of this year to about 6.35 billion USD , while in the same period last year the trade surplus was 2.35 billion USD .
The US is Vietnam's largest export market with an estimated turnover of 28.4 billion USD . China is Vietnam's largest import market with an estimated turnover of 33.3 billion USD .
Regarding the export turnover of goods, in April it was estimated at 27.54 billion USD , down 7.3% compared to the previous month. In the first 4 months, the export turnover of goods was estimated at 108.57 billion USD , down 11.8% compared to the same period last year.
In the first four months of the year, 20 items achieved export turnover of over 1 billion USD , accounting for 83.8% of total export turnover. Of which, there were 5 items with export turnover of over 5 billion USD , accounting for 57.4% of the country's total export turnover.
Accordingly, the processed industrial goods group continued to dominate with 88.5% of the total export goods structure in the past 4 months.
Import turnover of goods in April 2023 is estimated at 26.03 billion USD , down 8.1% compared to the previous month. In the first 4 months of 2023, import turnover of goods is estimated at 102.22 billion USD , down 15.4% compared to the same period last year.
There were 19 imported items with a value of over 1 billion USD in 4 months, accounting for 75.8% of total import turnover, of which 2 imported items were over 5 billion USD , accounting for 37.1%.
In the past 4 months, Vietnam had a trade surplus with the EU of 9.3 billion USD , and a trade surplus with Japan of 367 million USD (in the same period, it had a trade deficit of 589 million USD ).
On the other hand, our country had a trade deficit of 16.8 billion USD with China, down 18.1%; a trade deficit of 8.9 billion USD with South Korea, down 36.9% and a trade deficit of 2.3 billion USD with ASEAN, down 53%.
According to the Ministry of Industry and Trade , among Vietnam's important export markets, China is Vietnam's largest trading partner and second largest export market, after the US.
"In the coming time, China is still a market with many bright spots and much room for growth, with many forecasts and expectations for export orders in the following quarters," the agency emphasized.
In 2023, the world economy is forecast to continue to fluctuate and cannot recover quickly. Many major economies still face risks such as slow GDP growth, inflation, unemployment, bad debt, etc. Zing readers are invited to read the 2023 Economic Bookshelf to grasp new economic knowledge and information in 2023.
Lien Pham
Vietnam's trade balance, import and export , trade surplus
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