According to data just announced by the General Statistics Office (Ministry of Planning and Investment), in the first four months of 2023, Vietnam's export turnover of goods is estimated at USD 108.57 billion, a decrease of 11.8% compared to in the same period last year.

In which, the US is Vietnam's largest export market with an estimated turnover of USD 28.4 billion. China is the second largest export market with USD 16.4 billion; followed by the EU with USD 13.7 billion; ASEAN with USD 11.1 billion and Korea Republic with USD 7.8 billion; Japan USD 7.3 billion.

Regarding imports, in the first 4 months of 2023, Vietnam's merchandise import turnover is estimated at USD 102.22 billion, a decrease of 15.4% over the same period last year. In which, China is Vietnam's largest import market with an estimated turnover of USD 33.3 billion. Next is Korea Republic with USD 16.7 billion; ASEAN USD 13.4 billion; Japan USD 7.3 billion; EU with USD 4.4 billion and the U.S. with USD 4.1 billion.

Accumulated over the first 4 months of 2023, the trade surplus to the US is estimated at USD 24.4 billion, a decrease of 23.6% over the same period last year; trade surplus to the EU is estimated at USD 9.3 billion, a decrease of 12.7%; trade surplus to Japan is estimated at USD 367 million (trade deficit in the same period is estimated at USD 589 million); trade deficit with China of USD 16.8 billion, a decrease of 18.1%; trade deficit with Korea Republic of US 8.9 billion, a decrease of 36.9%; trade deficit with ASEAN of USD 2.3 billion, a decrease of 53%.

Accumulated over the first 4 months of 2023, export turnover of goods is estimated at USD 108.57 billion, a decrease of 11.8% over the same period last year. In which, the domestic economic sector reached USD 28.58 billion, a decrease of 11%, accounting for 26.3% of total export turnover; FDI sector (including crude oil) reached USD 79.99 billion, a decrease of 12.1%, accounting for 73.7%.

In the first 4 months of 2023, there were 20 items with export turnover of over USD 1 billion, accounting for 83.8% of total export turnover (with 5 export items of over USD 5 billion, accounting for 57.4%).

Regarding the structure of export groups in the first 4 months of 2023, the group of fuel and mineral products is estimated at USD 1.33 billion, accounting for 1.2%; the group of processed industrial products is estimated at USD 96.1 billion, accounting for 88.5%; group of agricultural and forestry products is estimated at USD 8.56 billion, accounting for 7.9%; seafood products is estimated at USD 2.58 billion, accounting for 2.4%.

In the opposite direction, the import turnover of goods in April 2023 is estimated at USD 26.03 billion, decreased by 8.1% compared to the previous month. In which, the domestic economic sector reached USD 9.13 billion, decreased by 13%; FDI sector reached USD 16.9 billion, decreased by 5.2%. Compared to the same period last year, the import turnover of goods in April 2023 decreased by 20.5%; in which, the domestic economic sector decreased by 19.4%; FDI sector decreased by 21.1%.

Accumulated over the first 4 months of 2023, import turnover of goods is estimated at USD 102.22 billion, decreased by 15.4% over the same period last year, of which the domestic economic sector reached USD 36.62 billion, decreased by 11.4%; FDI sector reached USD 65.6 billion, decreased by 17.4%.

Kylie Nguyen