Finance & Economy

By mid-March 2023, Vietnam will have a $3 billion trade surplus.

Published: March 24, 2023
Author: DIGITAL MEDIA EXECUTIVE

According to data issued by the General Directorate of Vietnam Customs, the country’s overall import-export turnover between January 1 and March 15, 2023, was close to $123 billion, resulting in a $3 billion trade surplus. But, compared to the same period last year, this statistic reflects a 13% reduction in exports and imports, which totaled over $63 billion and $60 billion, respectively.

The overall value of products imported and exported during the first half of March was $27.15 billion, an 11% decrease from the same period last year. The country’s trade activities slowed down in the first few months of the year, according to the ministry of industry and commerce, as a result of the downturn in commodity prices and the lack of fresh export orders.

As stated by According to the data, between March 1 and 15, four export commodities had a $1 billion turnover. The total value of textiles and apparel was $1.23 billion.

In contrast, imports fell by 9% to $13.82 billion in the first half of March from the same time in 2016. Also, compared to the same period last year, the import of raw materials for production fell by 16.6% to $41.2 billion in the first two months of this year.

Related Posts

Vietnam’s Deputy Prime Minister Le Minh Khai Sign’s Resolution to Boost Logistics Industry and Foster Connectivity