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COVER STORY

PHOTO: VIET TUAN
THE WORLD

AT ITS FEET

Vietnam’s trade performance remained positive amid the
pandemic and 2022 holds a great deal of promise.
LINH AN Reports

ietnam’s total import and export turnover of over $1 billion and accounted while South Korea reached $21.9 billion,
turnover reached $668.5 billion in for 93.8 per cent of the total. Eight exported up 14.7 per cent, and Japan $20.1 billion,
V 2021, figures from the General over $10 billion worth of goods, accounting up 4.3 per cent.
Statistics Office (GSO) show. notably, for 69.7 per cent. In imports, 47 commodities recorded
trade is once again in surplus. According regarding export structure, processed value of over $1 billion in the first eleven
to a forecast from the Ministry of Industry industrial products continued to play a months, accounting for 94.1 per cent of
and Trade (MoIT), this is a huge result key role, posting export turnover of $299.85 total import turnover.
given the rigors posed by Covid-19 through- billion, up 19.7 per cent and accounting Production materials led the way, stand-
out 2021. for 89.2 per cent of the total, up 0.6 ppts. ing at $310.66 billion, up 26.8 per cent
The high growth was mainly due to the year-on-year and accounting for 93.5 per
MAINTAINING MOMENTUM resumption of business operations in south- cent of total import turnover. Though
Export and import turnover grew at a ern provinces after more than three months imports rose sharply year-on-year, they
pleasing 22.6 per cent year-on-year. Exports of lockdown. were primarily materials for production.
totaled $336.25 billion, up 19 per cent, The uS was again Vietnam’s largest This group accounted for a large proportion,
and imports $332.25 billion, up 26.5 per export market in the period, with turnover revealing that domestic production is in a
cent. While the domestic economic sector of $95.6 billion, up 24.1 per cent year-on- recovery phase and that businesses boosted
posted a trade deficit of $25.36 billion, year. Following was China, with $55.9 bil- the importation of raw materials for exports
the FDI sector (including crude oil) posted lion, up 14.3 per cent, then the Eu, with in late 2021 and early 2022.
a surplus of $29.36 billion. $39.9 billion, up 13.5 per cent. ASEAn China was Vietnam’s largest import
Thirty-five commodities recorded export totaled $29.1 billion, up 25.8 per cent, source in the period, with turnover of -

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