International Business News – The representative of Vietnam’s Ministry of Industry and Trade believes that the positive results of import and export in the first half of this year are the basis for the industry and trade industry to strive to achieve, or even exceed, the established export target for 2022.
According to the preliminary results of the first six months of this year, the Ministry of Industry and Trade expects that the export value for the whole year of 2022 will reach 368 billion US dollars, an increase of 9.46% over 2021.
According to the report on the Evaluation of the Implementation of the 2022 Plan and the Projected 2023 Plan just sent by the Ministry of Industry and Trade of the Communist Party of Vietnam to the Ministry of Planning and Investment of Vietnam, in the first half of 2022, the national import and export volume continued to increase, with a total value exceeding 371.3 billion US dollars. Among them, the value of merchandise exports exceeded 186 billion US dollars, a year-on-year increase of 17.3%; the trade surplus was 743 million US dollars, which made positive contributions to balancing the international payments, stabilizing the exchange rate and stabilizing other macroeconomic indicators.
It is worth mentioning that in the first six months of this year, Vietnam exported 29 kinds of commodities with a value of more than 1 billion US dollars, an increase of 4 kinds over the same period of last year, accounting for 91.2% of the total export value.
Mr. Tran Thanh Hai, Deputy Director of the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam, said that at present, Vietnam’s exports to markets that have signed free trade agreements with Vietnam are growing strongly, with a growth rate ranging from 12% to 34%. In particular, some individual markets, such as Canada and Mexico, saw growth rates as high as 30%.
The representative of Vietnam’s Ministry of Industry and Trade pointed out that the positive results of import and export in the first six months of 2022 are the basis for the industry and trade industry to strive to achieve, or even exceed, the set export target for 2022.
In view of the preliminary export data in the first six months of this year, the Ministry of Industry and Trade believes that the export value of goods in 2022 will reach 368 billion US dollars, an increase of about 9.46% over 2021, exceeding the government’s target of export growth of about 8%. It exceeded the 8.1% growth target set by the Ministry of Industry and Trade on January 18, 2022. Meanwhile, total imports for the year could reach $367 billion. It is estimated that in 2022, Vietnam’s foreign trade surplus will be about 1 billion US dollars, reaching the predetermined target.
Regarding the development goals of foreign trade in 2023, the industry and trade industry put forward the goal of increasing the export value by about 8% compared with 2022, and maintaining a surplus in foreign trade.