Five month import-export turnover up 15.6 percent

Illustrative image. (Photo: VNA)

Hanoi (VNA) – Vietnam’s import-export turnover duringthe first five months of this year reached 305.1 billion USD, a year-on-yearincrease of 15.6 percent, according to a report released on May 29 from theGeneral Statistics Office of Vietnam (GSO).

Of the total, Vietnam reported 152.81 billion in export revenue,a year-on-year increase of 16.3 percent.

Twenty-six groups of commodities posted an export value of over 1 billion USDeach, with six with over 5 billion USD, in the first five months of 2022. Togetherthey accounted for 89.6 percent of the country’s total export, of which manufacturing industry accounted for 88.6 percent (0.5 percent decrease from the sameperiod last year), seafood 3.1 percent (0.6 percent increase) and agriculturaland forestry products 6.9 percent (0.5 percent decline).

Meanwhile, imports turnover reached 152.29 billion USD, a 14.9 percentincrease year-on-year with the domestic sector accounting for 53.36 billion USDand the foreign-invested one 98.93 billion USD, up 14.7 percent and 14.9 percent, respectively. 

The US remained Vietnam's largest export market with an estimated turnover of46.7 billion USD, while China was the largest import market with 49.6 billionUSD in the first five months of 2022. 

The country posted a trade surplus of 516 billion USD in the period.Specifically, it reported a trade plus of 13.4 billion USD with the EuropeanUnion, a 43.6 percent increase year-on-year, but a trade deficit of27.1 billion USD with China, 17.9 billion USD with theRepublic of Korea and 6.5 billion USD with ASEAN./.

VNA