Preliminary assessment of Vietnam international merchandise trade performance in the first half of June, 2023

The Vietnam Customs Statistics announced that in the first half (01-15/6/2023) of  June-2023, Vietnam’s total exports of  US dollars 13.7 billion and imports  of  US dollars 13.57 billion resulted in a trade surplus of nearly US dollars 131 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of June was US dollars 27.27 billion, down by 5.5% as compared to the second half of May-2023.

Vietnam‘s trade-in-goods from January to the first half of June of 2023 totaled US dollars 287.94 billion in value terms. It posted an decrease of 15.2% (equivalent to USD 51.76 billion) from the same period of previous year. In which, the total merchandise exports value was down 12% to nearly US dollars 148.87 billion and the total merchandise imports value was down by 18.4%, to US dollars 139.07 billion.

In the view of FDI traders, the value of exportation and importation from January to the first half of June of 2023 reached USD 199.32 billion, down by 14.8% as compared to the same period of last year.

Export:

When compared with the second half of May-2023, export of first half of June decreased by 16.6%, mostly as a result of the downturn registered in machine, tools and equipments (down by 22.6% – USD 439 millions); irons and steels (down by 48.5% – USD 299 million); textile and garments (down by 14% – USD 241 million) …

Chart 1: Top 10 main exported commodities of Vietnam from Jan. to June 15^th 2023 as compared to the same period of 2022.

Import:

In the first half of June 2023, import increased by 1.4% when compared with the second half of May, mainly reflecting the upturm in computer electrical products and part thereofs (up by 19% – USD 586 million); coal (up by 25.2% – USD 93 million); soya bean (up by 96.9% – USD 59 million)…

Chart 2: Top 10 main imported commodities of Vietnam from Jan. to June 15^th 2023 as compared to the same period of 2022.

Source: Vietnam Customs.