Specifically, the export turnover of goods in January 2022 was estimated at 29 billion USD, down 16.2% compared to the previous month. In which, the domestic economic sector gained 8.2 billion USD, down 16.9%; FDI sector (including crude oil) reached 20.8 billion USD, down 15.9%. 

Compared to the same period last year, the export turnover of goods in January 2022 increased by 1.6%. In which, the domestic economic sector increased by 20.1%, the foreign invested sector (including crude oil) decreased by 4.2%. Accordingly, there are 7 items with export turnover of over 1 billion USD, accounting for 63.3% of total export turnover.

Regarding the structure of export commodity groups in January 2022, the group of processed industrial products accounted for 88.5%, down 1.5 percentage points over the same period last year; agricultural and forestry products accounted for 7.7%, up 0.7 percentage points; aquatic products accounted for 2.9%, up 0.8 percentage points; fuel and mineral products accounted for 0.9%, equal to the same period last year.

Commodity export structure in January 2022 by commodity group.Source: GSO.

Regarding imports, in January 2022, import turnover was estimated at US$29.5 billion, down 6.7% over the previous month. In which, the domestic economic sector reached 10 billion USD, down 4.3%; FDI sector reached 19.5 billion USD, down 7.9%. 

Compared to the same period last year, the import turnover of goods in January 2022 increased by 11.5%, of which the domestic economic sector increased by 12.8%; FDI sector increased by 10.8%. In January 2022, there were 4 imported items with a value of over 1 billion USD, accounting for 46.8% of the total import turnover.

Regarding the structure of imported goods in January 2022, the group of capital goods accounted for 93.7%, up 0.2 percentage points over the same period last year. Specifically, the group of machinery, equipment, tools and spare parts accounted for 46.3%, down 2.2 percentage points; raw materials, fuel and materials accounted for 47.3%, up 2.4 percentage points. The group of consumer products accounted for 6.3%, down 0.2 percentage points.

Source: GSO.

Source: GSO.

In terms of the growth rate of goods import and export compared to the same period last year, with a trade deficit of 2.3 billion USD in January 2022, an increase of 34% compared to the same period in 2021, Japan became the largest country in the world. becoming the market with the highest growth rate of goods imports into Vietnam compared to other countries such as the United States or China.

The balance of trade in goods in January 2022 is estimated to have a trade deficit of 500 million USD. In which, the domestic economic sector has a trade deficit of 1.8 billion USD; FDI sector (including crude oil) had a trade surplus of 1.3 billion USD.