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Foreign trade hits more than US$30 bln in first half of August

The General Department of Vietnam Customs reported the total import-export value of Vietnam in the first half of August 2022 has hit more than US$30 billion.

foreign trade hits more than us 30 bln in first half of august picture 1
Phone and component exports brought in US$2.71 billion in the first half of August 2022. (Photo:dantri.com.vn)

Of the total value, exports brought in US$15.13 billion, down about 7%, compared to the second half of July this year.

There are five groups of export products raking in a turnover of US$1 billion or more each. They are phones and components (US$2.71 billion), machinery, equipment, tools and spare parts (US$1.94 billion), computers, electronic products and components (US$1.87 billion), textiles (US$1.8 billion), and footwear (more than US$1 billion).

Meanwhile, Vietnam spent US$15.24 billion on imports, an increase of about 7.8% compared to the second half of July 2022. Two groups of commodities with an import value of more than US$1 billion each are computers, electronic products and components (US$3.5 billion), and machinery, equipment, tools and spare parts (US$1.97 billion).

Vietnam as a result slipped into a trade deficit of more than US$100 million in the first half of August, but it had still produced a trade surplus of US$1.39 billion from the beginning of the year to August 15.

Since the beginning of the year to August 15, the country’s total import and export turnover had reached US$464.13 billion, of which exports fetched US$232.76 billion, up 17.67% year on year, and imports hit US$231.37 billion, up 6.5%.

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