Total export value from the beginning of the year to the end of May 15, 5 reached 2023.118 billion USD, down 58.12%; in which many key items decreased sharply such as: phones of all kinds and components; textiles; wood and wood products…
On May 22, 5, the General Department of Vietnam Customs announced preliminary data on Vietnam’s import and export situation in the first half of May 2023 (from May 5 to May 2023, 01)
- Accordingly, the total value of import and export of goods of Vietnam in the period of 1 May 5 reached 2023.23 billion USD, down 89.10% (equivalent to a decrease of 8.2 billion USD) compared to the period of 89 April 2.
- The results achieved in the first half of May 5 brought the total value of import and export of the country to the end of May 2023, 15 to reach 5.2023 billion USD, down 230.59%, corresponding to a decrease of 15.4 billion USD in absolute numbers compared to the same period in 42.
- In which, the total value of import and export of foreign direct investment (FDI) enterprises reached 160.26 billion USD, down 15.1% (equivalent to a decrease of 28.5 billion USD).
Specifically, in terms of exports, in the period of 1 May 5 reached 2023.11 billion USD, down 45.21% (corresponding to a decrease of 3.3 billion USD in absolute numbers) compared to the period of 1 April 2.
- Some groups of goods with a decrease in the value of the period of 1 May 5 compared to the period of 2023 April 2, including: phones of all kinds and components decreased by 4 million USD (equivalent to a decrease of 2023.755%); machinery, equipment, tools and other spare parts decreased by 38 million USD (corresponding to a decrease of 7.452%); iron and steel of all kinds decreased by 25 million USD (equivalent to a decrease of 7.247%); textiles and garments decreased by 44 million USD (corresponding to a decrease of 1.189%)…
- Thus, by the end of May 15, 5, Vietnam’s total export value reached 2023.118 billion USD, down 58.12% (equivalent to a decrease of 8.17 billion USD) over the same period in 47.
- In which, phones of all kinds and components decreased by 4.47 billion USD (equivalent to a decrease of 19.5%); textiles and garments decreased by 2.3 billion USD (corresponding to a decrease of 17.4%); wood and wood products decreased by 1.88 billion USD (corresponding to a decrease of 30.2%); computers, electronic products and components decreased by 1.6 billion USD, corresponding to a decrease of 8.2% … compared to the same period in 2022.
- Statistics of the General Department of Customs also show that the export value of goods of FDI enterprises in the period of 1 May 5 reached 2023.8 billion USD, down 09.22%, corresponding to a decrease of 6.2 billion USD compared to the period of 36 April 2.
- By the end of May 15, 5, the total export value of goods of the group of FDI enterprises reached 2023.87 billion USD, down 17.12%, equivalent to a decrease of 4.12 billion USD over the same period last year, accounting for 39.73% of the total export value of the whole country.
From the opposite direction, the value of imported goods of Vietnam in the period of 1 May 5 reached 2023.12 billion USD, up 44.1% (equivalent to an increase of 7 million USD in absolute numbers) compared to the results realized in the second half of April 212.
- Some commodity groups with an increase in import value are crude oil increased by 101 million USD, (equivalent to an increase of 40.3%); computers, electronic products and components increased by 87 million USD (corresponding to an increase of 3%); machinery, equipment, tools and other spare parts increased by 76 million USD (corresponding to an increase of 4.6%)…
- Generally, from the beginning of the year to the end of May 15, 5, the total import value of the whole country reached 2023.112 billion USD, down 01% (equivalent to a decrease of 18.24 billion USD) over the same period in 63.
- In which, some commodity groups decreased sharply such as: phones of all kinds and components decreased by 5.47 billion USD (equivalent to a decrease of 66.5%); computers, electronic products and components decreased by 4.39 billion USD (equivalent to a decrease of 13.4%); machinery, equipment, tools and other spare parts decreased by USD 2.15 billion (corresponding to a decrease of 13.2%) compared to the same period in 2022.
- Data from the General Department of Customs shows that the import value of goods of FDI enterprises in the period of 1 May 5 reached 2023.8 billion USD, up 18% (equivalent to an increase of 4 million USD) compared to the period of 317 April 2.
- By the end of May 15, 5, the total import value of the group of FDI enterprises reached 2023.73 billion USD, down 09.18% (equivalent to a decrease of 1.16 billion USD) over the same period in 14, accounting for 2022.65% of the total import value of the whole country.
With the above results, in the period 1 May 5, the trade balance of goods has a deficit of 2023 million USD. From the beginning of the year to the end of May 988, 15, the trade balance of goods has a surplus of 5.2023 billion USD.
Explaining the reason for the decrease in exports in 4 months and the first half of May 5, at the regular press conference of the Ministry of Industry and Trade recently, Deputy Minister Do Thang Hai said that major economies that are Vietnam’s export partners such as the United States and the EU reduced spending on procurement of conventional and luxury products, causing the order volume to decrease, Meanwhile, domestic industrial production is mainly export-oriented, highly dependent on the global market as domestic production output far exceeds the demand of the domestic market.
In addition, the decline in export orders, the decrease in export commodity prices is also one of the factors that reduce export turnover. In the first 4 months of 2022, many commodities had deep discounts of 20-30% over the same period last year such as: pepper decreased by 34.3%, rubber decreased by 21.2%, crude oil decreased by 15.9%, ores and other minerals decreased by 19.8%, iron and steel decreased by 25.2%, fertilizers of all kinds decreased by 33.6%…
Regarding the trade balance, Deputy Minister Do Thang Hai said that the increased trade surplus contributes to stabilizing the balance of payments and macroeconomic stability, but in the current situation, it is necessary to carefully evaluate because the trade surplus due to the decrease in imports of input materials due to the absence of orders is not necessarily positive. On the contrary, in some cases, the trade deficit is not necessarily not good. It is necessary to coordinate to reassess more thoroughly, thereby having solutions for import and export activities in the coming time.
According to Deputy Minister Do Thang Hai, the world economy continues to face difficulties despite signs of recovery, but slowly and unevenly in countries, consumer demand therefore also recovers slowly. Moreover, developed countries are increasingly concerned about safety issues for consumers and erect new standards and technical barriers for imported products; China’s reopening increases competition in Vietnam’s export markets… will be factors that will continue to impact Vietnam’s production and import and export in the coming months.