Maritime News

[#SNP_SPOTLIGHT] Vietnam's import and export turnover in the first quarter of 2022 continued to grow


[#SNP_SPOTLIGHT] Vietnam's import and export turnover in the first quarter of 2022 continued to grow

Vietnam’s export-import revenue in the first quarter of this year was estimated at 176.35 billion USD, up 14.37 percent year-on-year, of which 88.58 billion USD was from exports, a rise of 12.9 percent.

Deputy Minister of Industry and Trade told a press conference in Hanoi on March 30 that the export value reached 34.06 billion USD in March alone, up 45.5 percent month-on-month and 14.8 percent year-on-year.
Vietnam saw increases in both export volume and value, especially in agricultural products, crude oil, fertilizers and plastics.
Notably, up to 16 groups of commodities joined the over one-billion USD club, making up 83.4 percent of the combined export turnover, of which five recorded an export value of more than 5 billion USD.
The country earned about 900 million USD from fishery export in March, a rise of 41 percent compared to the previous month and 22.4 percent compared with the same period last year. This pushes the turnover in the first quarter to 2.4 billion USD, up 38.7 percent year-on-year.

During the three-month period, the US was Vietnam’s biggest buyer, with 25.57 billion USD in revenue. It was followed by China, the European Union (EU), the Association of Southeast Asian Nations (ASEAN), the Republic of Korea (RoK) and Japan.
The ministry forecasts that Vietnam’s export will continue to bounce back thanks to the recovery of the global economy, the implementation of free trade agreements (FTAs), to which Vietnam is a signatory, and supportive policy.
The ministry will continue to support enterprises in terms of market information, export promotion, and the utilization of the FTAs, it noted.