Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2023

Vietnam‘s trade-in-goods in the first 2 months of 2023 totaled US dollars 95.83 billion in value terms, climbed down by 13.4% as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 2 months of 2023 reached USD 68.2 billion, down by 11.8% in comparison to the same period of 2022.

Export:

As compared to the first half of February-2023, second half of the month decreased in the total export value (7.2% - USD 972 million equally) is reflected by downturn in telephones, mobile phones and parts thereof (down by 21% - USD 492 million equally); computer, electrical products, spare-parts and components thereof (down by 8.1% - USD 166 million equally); means of transport (down by 23% - USD 139 million).

Totally, in the first 2 months of 2023 total export value from Vietnam was USD 49.64 billion, climbed down 10% as compared to the same period of 2022 (equivalent to USD 5.55 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of the second half over the first half of February 2023

Source: Vietnam Customs

Import:

The first half to second half of February shrunk in the total of import value (13.7%) reflected downturn in computer, electrical products , spare-parts and components thereof (down by 19.9% - USD 651 million equally); machine, tools and equipments (down by 12.3% - USD 188 million equally); petroleum products (down by 32.8% - USD 143 million equally).

From January to second half of February-2023, total import value into Vietnam was USD 46.2 billion, went down by 16.7% as compared to the same period of 2022 (equivalent to USD 9.28 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of the second half over the first half of February 2023