Vietnam’s Export-Import Turnover Is Likely To Hit $750 Billion In 2022

As per the Vietnam Import-Export Data, Vietnam’s trade turnover is estimated to hit $740-$750 billion in 2020, with a rise of 13-15 per cent compared to the figures of last year. In 2021, in terms of foreign trade, Vietnam grossed $668.5 billion, a 22.6 per cent y-o-y rise, helping Vietnam to maintain a trade surplus of $4 billion.

As per the GSO (General Statistics Office) of this country, and based on their survey for manufacturing & processing enterprises, the number of new orders for exports has either increased or remained the same as in the 4th quarter of the year 2021.

Nguyen Viet Phong, the official of GSO, told a new agency at a recent event that there are a lot of opportunities and scope for Vietnam’s exports to grow this year. In addition, he also highlighted the robust export growth rate recorded in Vietnam’s exports in 2021.

According to Economist Can Van Luc and Vietnam customs export data, it is estimated that Vietnam is likely to rake in between $372-380 billion from export in  2022. The data also represent a rise of between 13-15 per cent. However, imports of Vietnam hover around $366-372 billion with a rise of 11-13 percent compared to the previous year’s data.

Phi Huong Nga, another GSO official in his recent interaction with media also suggested that the export activities of Vietnam will continue to show bright sports on the overall economic condition in 2022. Local manufacturers and processors have recovered from the loss and effect of the Covid-19 and are now seeing massive growth in the demand and production of their exports.

Statistics and Vietnam customs data show the total export-import value of Vietnam’s trade in the first half of January 2022 was $27.55 billion with a decline of 20.7 per cent compared to the first half of December last year.

Economists suggest despite a temporary fall in the total import-export value, trade activities in Vietnam are set to maintain their growth momentum in 2022.

Top Exports and Export Partners of Vietnam

Vietnam import-export data by hs code show products such as Mobile, Telephones & Parts (21%), Textiles (12%), Computers & Electrical Products (12%), Footwear & Shoes (7%), and Machinery, Instruments & Accessories (6%) are the top exports of Vietnam.

The data also reveal that countries such as China (16%), the United States (19%),  Japan (8%), Netherlands (3%), Hong Kong (4%), and South Korea (7%) are the top export partner countries of Vietnam.

Trae Statistics of Vietnam Jan 2020

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