22 September 2023

Statistics from the General Department of Customs show that the total value of import and export of the country by the end of September 15, 2023 reached 464.08 billion USD..

According to the General Department of Vietnam Customs, the total value of import and export of goods of Vietnam in the period 1 September 2023 (1-15/9) reached 28.07 billion USD, down 15.4% (equivalent to a decrease of 5.13 billion USD) compared to the second half of August 2023.

The results achieved in the first half of September 2023 brought the total value of import and export of the country to the end of September 15, 2023 to reach 464.08 billion USD, down 11.9%, corresponding to a decrease of 62.82 billion USD compared to the same period in 2022.

In which, the total value of import and export of foreign direct investment (FDI) enterprises reached 320.01 billion USD, down 12.3%, equivalent to a decrease of 45.03 billion USD.

In the period of September 1, the trade balance of goods surplus was 222 million USD, accumulated from the beginning of the year to the end of 15/9, the trade balance of goods surplus nearly 20 billion USD.

In terms of exports, the total value of Vietnam's exported goods in period 1 reached 14.29 billion USD, down 21.6% compared to period 2. Thus, by the end of September 15, 2023, Vietnam's total export value reached 242 billion USD, down 8.8%, corresponding to a decrease of 23.44 billion USD over the same period in 2022.

In the opposite direction, the total value of imported goods in the period 1 September 2023 reached 13.78 billion USD, down 6.5%, corresponding to a decrease of 621 million USD compared to the results realized in the second half of August 2023.

The import value of goods in the period of September 1 decreased compared to the period of August 2, 2023, mainly in the following commodity groups: coal of all kinds decreased by 125 million USD, corresponding to a decrease of 40.4%; machinery, equipment and spare parts decreased by 112 million USD, down 6.1% ...

Thus, by the end of September 15, 2023, the total import value of the whole country reached 222.05 billion USD, down 15.1%, equivalent to a decrease of 39.38 billion USD over the same period in 2022.

The current time until the end of the year, although there are many positive signals, it is forecasted that the world economic context also has many fast and unpredictable developments. Despite the slowdown, inflation remains high in markets. The complicated conflict between Russia and Ukraine continues to disrupt the global supply chain, and prices of input materials for production remain high.

However, there are expectations for export orders to recover, Vietnamese enterprises have resilience, flexibility, and great initiative in production and business. Vietnamese enterprises have gradually promoted their initiative in creativity, found new markets, and exploited very well the advantages from FTAs.

Regarding solutions to promote exports, Deputy Minister of Industry and Trade Do Thang Hai stated that the Government, ministries and branches need to continue to provide maximum support, remove obstacles and difficulties, reduce costs for businesses, accelerate the tax refund process,... Thereby, import-export enterprises are motivated to maintain production and business, have capital sources to import raw materials for production and export according to new orders.

With the goal of creating the greatest favorable conditions for import and export, the Ministry of Industry and Trade is actively implementing solutions, such as: enterprises can make payment of fees and certificates of origin of goods online, instead of having to go directly to the management agency to pay the fee. Organize monthly briefings between agencies of ministries and the system of Vietnam Trade Offices abroad with localities, associations, enterprises and relevant ministries and sectors to update information, needs, as well as new regulations of the market. Continue negotiating and signing FTAs with other potential partners to diversify markets, products, supply chains...