Tag: import-export

Businesses are warned of possible increase in global prices for fuel, crude oil and consumer goods, indirectly affecting Vietnam’s production, import-export activities.

Data from the General Department of Vietnam Customs shows that total trade turnover in the first nine months of 2022 was nearly $558 billion, a 15 per cent increase year-on-year, of which the FDI sector posted $387.8 billion, up 15.2 per cent. However, the Ministry of Industry and Trade has forecast that trade will face certain difficulties and challenges in 2023.

New strategy aims to increase exports and ensure sustainable trade surplus.

According to the General Department of Vietnam Customs, total import and export value stood at more than $21 billion in the first half of February, of which more than $8.7 billion was from exports and $12.6 billion was from imports. Vietnam therefore posted a trade deficit of $3.9 billion. As of February 15, trade for the year was in deficit to the tune of $2.53 billion.

Vietnam possesses strong geo-economic advantages that promote production, exports, and logistics services. Trade overall as well as logistics are gaining the conditions needed to continue to grow faster and more sustainably.