June 26, 2023

The trade balance of goods in the first 15 days of June had a trade surplus of 130 million USD, bringing the trade surplus from the beginning of the year to the first half of June to 9.8 billion USD.

According to information from the General Department of Customs, in the first 15 days of June 2023, import and export turnover of goods reached 27.3 billion USD; in which export reached 13.7 billion USD and import reached 13.57 billion USD. The trade balance of goods in the first 15 days of June had a trade surplus of 130 million USD.

The results achieved in the first half of June brought the total import and export turnover of Vietnam's goods from the beginning of the year to the end of June 15, 2023 to more than $287.9 billion, down 15.2% over the same period. in 2022; in which exports reached 148.87 billion USD, down 12% and import reached 139.07 billion USD, down 18.4%. The trade balance of goods had a trade surplus of 9.8 billion USD.

Import and export of goods are facing many difficulties due to inflation situation and general decline in demand in the world market. This leads to goods difficult to find output.

The largest export commodity groups of Vietnam from the beginning of the year to the end of June 15, 2023, including computers, electronic products and components, reached US$22.9 billion, down 7%, compared with the same period last year. 2022; phones and components reached 21.9 billion USD, down 18.9%; other machinery, equipment, tools and spare parts reached nearly 18 billion USD, down 7.1%; textiles and garments reached 14.1%, down 15.3%; footwear reached $8.9 billion, down 15.4%...

On the other hand, the groups of goods that Vietnam imported the most were: computers, electronic products and components with 35.2 billion USD, down 11.6%; other machinery, equipment, tools and spare parts reached 17.8 billion USD, down 13.3%; fabric reached USD 5.87 billion, down 20%; iron and steel of all kinds reached 4.3 billion USD, down 31.5%...

In order to increase import and export turnover in the coming time, the Ministry of Industry and Trade is making efforts to diversify export markets. Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - Ministry of Industry and Trade said, the diversification of the market is reflected in the fact that we have negotiated and signed FTAs. Currently, we have 15 FTAs that have been signed and are being implemented. Besides, the FTA with Israel has ended negotiations and is expected to be signed between now and the end of the year.

The Ministry of Industry and Trade is also considering implementing new FTAs such as FTA with the UAE. This is a country with very active trade activities in the Middle East and can completely become a gateway for us to bring goods to the Middle East and Africa.

In the Americas, there is an organization called the Market Community of the Americas (Mercosur) consisting of 6 countries in South America. This is a potential market and Vietnam has FTAs with a number of countries in this region such as CPTPP with the participation of Chile and Peru. However, Vietnam does not have an FTA with the whole region, especially with big markets like Brazil or Mexico. Therefore, the authorities are stepping up negotiations to sign FTAs with this region. These are the priority directions for us to expand and diversify the market for businesses.

However, there are still many regions with large market area and capacity such as Africa, South Asia with countries such as Iran, Iraq, Afghanistan, Pakistan... These are market areas that we can continue to research. Research and negotiate FTAs.

Source: congthuong.vn