Import and export turnover exceeded 400 billion USD

The total import-export turnover of the whole country reached more than 400 billion USD, as of the first half of July. This is a positive figure for import and export activities.

According to the General Department of Customs statistics, in the first 15 days of July, the export of goods reached nearly 14.3 billion USD, bringing the total turnover from the beginning of the year to July 15 to reach 201 billion USD.

Groups of export products with significant turnover (reaching 1 billion USD or more) include: phones and components with 1.86 billion USD; machinery, equipment, tools, and spare parts reached 1.84 billion USD; textile and garments reached nearly 1.8 billion USD; computers, electronic products, and components reached 1.66 billion USD; footwear reached 1.09 billion USD.

In the opposite direction, in the first 15 days of July, the country's import turnover reached US$16.3 billion, bringing the total turnover from the beginning of the year to July 15 to US$202 billion.

Two groups of "billion-dollar" imports in the first half of July are computers, electronic products, and components, reaching 3.84 billion USD; machinery, equipment, tools, and spare parts reaching 2.1 billion USD.

Thus, from the beginning of the year to July 15, the import and export turnover of the whole country reached 403 billion USD, of which, Vietnam had a trade deficit of about 1 billion USD.

It is forecasted that the country's import-export turnover in 2022 may exceed 700 billion USD.

Although continuing to face many difficulties due to the complicated developments of the Covid-19 epidemic, high transportation costs, and affected tensions and political conflicts between Russia and Ukraine... but import and export activities Vietnam's exports in recent years still recovered strongly with the total export and import turnover remaining high.

Industrial production and exports are expected to prosper in the coming time thanks to factors such as the recovery of the world economy and the fully implemented implementation of Vietnam's FTAs. enough with commitments on facilitation and reduction of barriers.

Besides, the wave of investment shift to restructure the supply chain of foreign corporations with a large production scale and wide customer networks will be a new driving force for import and export activities.

Domestically, the economic recovery package with supportive policies including taxes and fees will help the business community, especially those heavily affected by the epidemic, quickly recover production and business activities. business. The accelerated disbursement of public investment capital will also have a positive impact on recovery and growth in a number of industries such as steel, construction materials, mechanical engineering, etc.

Based on the assessment of the situation in the country and the world, which also has many advantages and disadvantages, the Ministry of Industry and Trade has been and will continue to deploy synchronously many groups of solutions to support the production and business activities of Vietnam. enterprises, develop export markets and strive to meet and exceed the targets assigned by the Government, specifically, export turnover in 2022 will grow by over 8% compared to 2021, and the trade balance will continue to have a trade surplus.

Katherine (Source: Vietnam Economics News)