According to data from the General Statistics Office, in January 2023, the United States was Vietnam's largest export market, with an estimated turnover of USD 7.6 billion.

According to the General Statistics Office, the total import and export turnover of goods in January 2023 decreased compared both to the previous month and compared to the same period last year.

The reason is that January 2023 is the month with extended Lunar New Year and Lunar New Year, therefore the number of working days is less than the previous month and January 2022. Last year, the Lunar New Year was in February.

Specifically, the total export and import turnover of goods in January 2023 is estimated at USD 46.56 billion, a decrease of 17.3% compared to the previous month and a decrease of 25% compared to the same period last year (in which exports decreased by 21.3%; imports decreased by 28.9%).

Meanwhile, the total export and import turnover of goods in January 2022 reached USD 62.1 billion, an increase of 12.6% over the same period last year. In which, exports reached USD 31.9 billion, an increase of 11.6%; imports reached USD 30.2 billion, an increase of 13.7%.

The main reason is due to the prolonged Tet holiday, but the decrease in import and export is caused by the difficult world economy, reduced consumer demand, leading to a decrease in new orders. This can also be explained from the sharp decline in industrial production.

According to data from the General Statistics Office, the export turnover of goods in January 2023 is estimated at USD 25.08 billion, a decrease of 13.6% compared to the previous month.

In which, the domestic economic sector reached USD 6.44 billion, a decrease of 18%; FDI sector (including crude oil) reached USD 18.64 billion, a decrease of 12%.

Thus, compared to the same period last year, the export turnover of goods in January decreased by 21.3%. In which, the domestic economic sector decreased by 27.1%, the foreign investment sector (including crude oil) decreased by 19%.

In January, according to the General Statistics Office, there were 7 items with export turnover of USD 1 billion or more, accounting for 66.6% of total export turnover.

Regarding the structure of export commodity groups in January 2023, fuel and mineral products were estimated at USD 258 million, accounting for 1%; processed industrial goods is estimated at  USD 22.32 billion, accounting for 89%; agricultural and forestry products is estimated at USD 1.9 billion, accounting for 7.6%; seafood products is estimated at USD 0.6 billion, accounting for 2.4%.

In the opposite direction, the import turnover of goods in January 2023 is estimated at USD 21.48 billion, a decrease of 21.3% compared to the previous month. In which, the domestic economic sector reached USD 7.48 billion, a decrease of 26.6%; FDI sector reached USD 14 billion, a decrease of 18.1%.

Kylie Nguyen