Vietnam’s import-export turnover in 2022 likely to hit $750 bn

Vietnam’s total import-export turnover this year is estimated to hit $740-$750 billion—a rise of 13-15 per cent over the previous year figure, government insiders say. The country grossed $668.5 billion in foreign trade last year, a year-on-year rise of 22.6 per cent, helping it maintain a trade surplus of more than $4 billion.

According to a recent survey conducted by the country’s general statistics office (GSO) for processing and manufacturing enterprises, up to 83.3 per cent of respondents revealed that the number of new export orders increased or remained the same as in the fourth quarter of 2021.

GSO official Nguyen Viet Phong told a news agency that there is a lot of scope room for exports to grow this year, thanks to robust export growth recorded in 2021 coupled with the country’s flexible approach to contain the COVID-19 pandemic.

Vietnam’s import-export turnover this year is estimated to hit $740-$750 billion—a rise of 13-15 per cent over the previous year figure, government insiders say.The country grossed $668.5 billion in foreign trade last year, a year-on-year rise of 22.6 per cent, helping it maintain a trade surplus of more than $4 billion. New export orders have also increase.

Economist Can Van Luc predicts Vietnam is likely to rake in between $372-$380 billion from exports this year, representing a rise of between 13-15 per cent, while imports will hover around $366-372 billion, up between 11-13 per cent compared to 2021 figures.

The expert notes ongoing COVID-19 containment efforts and the enforcement of new-generation free trade agreements (FTAs) will give fresh impetus to trade, and boost investment and tourism activities, in the context that global trade is likely to see a downward trajectory due to the outbreak of new COVID-19 strains.

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Another GSO official Phi Huong Nga feels import and export activities will continue to represent bright spots on the overall economic picture this year as local processors and manufacturers have enjoyed a recovery in their production activities.

Statistics show Vietnam’s total import-export value in the first half of January 2022 was $27.55 billion, a fall of 20.7 per cent compared to the first half of December 2021. Experts say despite a temporary decline, trade activities are set to maintain their growth momentum this year.

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Originally posted 2022-02-01 14:39:03.

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