Foreign trade hits more than USD30 bln in first half of August

The General Department of Vietnam Customs reported the total import-export value of Vietnam in the first half of August 2022 has hit more than USD30 billion.

Of the total value, exports brought in USD15.13 billion, down about 7%, compared to the second half of July this year.

There are five groups of export products raking in a turnover of USD1 billion or more each. They are phones and components (USD2.71 billion), machinery, equipment, tools and spare parts (USD1.94 billion), computers, electronic products and components (USD1.87 billion), textiles (USD1.8 billion), and footwear (more than USD1 billion).

Meanwhile, Vietnam spent US$15.24 billion on imports, an increase of about 7.8% compared to the second half of July 2022. Two groups of commodities with an import value of more than USD1 billion each are computers, electronic products and components (USD3.5 billion), and machinery, equipment, tools and spare parts (USD1.97 billion).

Vietnam as a result slipped into a trade deficit of more than US$100 million in the first half of August, but it had still produced a trade surplus of USD1.39 billion from the beginning of the year to August 15.

Since the beginning of the year to August 15, the country’s total import and export turnover had reached USD464.13 billion, of which exports fetched USD232.76 billion, up 17.67% year on year, and imports hit USD231.37 billion, up 6.5%.