In 2022, the United States is the first export market to surpass the milestone of USD 100 billion/year, this is also the largest export market of Vietnam in the past year.

According to data from the General Department of Customs, the export turnover of goods in December 2022 is estimated at USD 29.66 billion, increased by 2.2% over the previous month. Export turnover of goods in December 2022 is estimated at USD 29.66 billion, increased by 2.2% over the previous month.

In which, the domestic economic sector reached USD 7.63 billion, an increase of 3.2%; FDI sector (including crude oil) reached USD 22.03 billion, an increase of 1.9%. Compared to the same period last year, the export turnover of goods in December decreased by 14%, of which the domestic economic sector decreased by 22.4%, the foreign-invested sector (including crude oil) decreased by 10.6%.

For the whole year of 2022, export turnover of goods is estimated at USD 371.85 billion, an increase of 10.6% over the previous year. In which, the domestic economic sector reached USD 95.09 billion, an increase of 6.5%, accounting for 25.6% of total export turnover; the foreign-invested sector (including crude oil) reached USD 276.76 billion, an increase of 12.1%, accounting for 74.4%.

Notably, in terms of commodity import and export markets in 2022, the United States is Vietnam's largest export market with an estimated turnover of USD 109.3 billion. This is also the first export market to surpass the milestone of USD 100 billion/year.

After the United States, China is Vietnam's second largest export market, with a turnover of USD 57.2 billion. In addition, China is Vietnam's largest import market with an estimated turnover of USD 119.3 billion. Followed by Korea Republic, Japan and Hong Kong (China), with export turnover reaching USD 24.29 billion, USD 24.23 billion and USD 10.9 billion respectively.

In 2022, Vietnam's trade surplus with the EU is estimated at USD 31.8 billion, an increase of 36.8% over the previous year; trade surplus to Japan of USD 836 million (last year's trade deficit of USD 2.7 billion); trade deficit with China of USD 60.9 billion, an increase of 11.5%; trade deficit with Korea Republic of USD 38.3 billion, an increase of 11.5%; trade deficit with ASEAN of USD 13.6 billion USD, an increase of 10.6%.

Kylie Nguyen