Import and export in 2022 will soon exceed 700 billion USD

According to statistics of the Ministry of Industry and Trade just announced, the import-export turnover in the first quarter reached nearly 177 billion USD, which recorded a strong double-digit growth in both import and export.

Specifically, by the end of March, the country's export turnover reached US$88.6 billion, up 12.9% over the same period, of which the domestic business sector increased significantly (22%) higher than that of the domestic industry. foreign investment capital (up 10%), this shows that the efforts of domestic enterprises in restoring production and business and resumption of supply chains in the context of the epidemic are still complicated.

Import and export in 2022 will soon exceed 700 billion USD.

Import turnover of goods was estimated at 87.77 billion USD, up 15.9% over the same period last year, of which the domestic economic sector gained 29.43 billion USD, up 13.7%; the foreign-invested sector reached 58.3 billion USD, up 17.1%. The trade balance of goods in the first quarter of 2022 is estimated to have a trade surplus of USD 809 million.

By the end of the first quarter, there were 16 items with export turnover of over 1 billion USD, an increase of 5 items compared to the first quarter of 2021, accounting for 83.4% of total export turnover (5 items with export turnover of over 5 million USD). billion USD, accounting for 57.9%).

In the past 3 months, imports of input materials and machinery are increasing rapidly to serve the needs of recovering domestic production in many industries.

In which, the import turnover of computers, electronic products and components reached the highest, at US$ 21.72 billion, up 31% compared to the first quarter of 2021. Similarly, import turnover of other items also recorded a high increase such as: phones and components increased by 15.2%, reaching 5.5 billion USD; plastic raw materials increased by 18.9%; rubber of all kinds increased by 33%; cotton of all kinds increased by 40%; Tobacco raw materials and accessories increased by 138%; coal increased by 97%; crude oil increased by 70%; petrol and oil of all kinds increased by 129%; other petroleum products by 42.8%; chemicals increased by 31.8%; fertilizer increased 55.8%...

According to experts' forecasts, with the current growth rate, the country's import-export turnover in 2022 will soon surpass the $700 billion mark.

Vietnam's production capacity for export now has plenty of room to continue to grow strongly in 2022. Many large corporations and enterprises still carry out investment projects to expand production and supply chains. in Vietnam is consolidated and is an irreplaceable link in the global value chain.

Moreover, the fact that 15 FTAs are being implemented continues to be a lever for export activities. Major markets such as the US, EU, Korea, Japan... are increasing their imports of Vietnamese goods. This is reflected in the export results in the first quarter of 2022, the US is the largest export market of Vietnam with a turnover of 25.57 billion USD, up 15% over the same period last year; export to

EU reached 11.21 billion USD, up 16.3%; ASEAN market reached 8.1 billion USD, up 19.9%; Korea reached 6.26 billion USD, up 21%; Japan reached 5.4 billion USD, up 10.6%.

In 2021, import and export reached a record with a total turnover of nearly 670 billion USD, up 22.6% compared to 2020, of which export turnover reached over 336 billion USD, up 19% compared to 2020, marking a mark For the sixth consecutive year, Vietnam had a trade surplus with a surplus of about 4 billion USD. Vietnam has entered the top 20 economies in terms of international trade.

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