In the second half of May 2023, Vietnam had a trade surplus of more than 3 billion US dollars

DNHN - According to data from the General Department of Customs, Vietnam's import and export turnover of goods in the second half of May 2023, from May 16 to May 31, 2023, totaled 29.79 billion USD, a 15% decrease compared to the same period last year.

Which Vietnam's exports reached 16,42 billion USD, up 43% from the first half of May 2023 (period 1), and imports reached 13,37 billion USD, an increase of 7%. In the second half of May 2023, Vietnam's trade surplus was USD 3.05 billion.

42 out of 45 export items exhibit positive growth value

Compared to the first half of May 2023, export goods improved in the second half of the month, as almost all export items increased by double digits. Rice, coal and precious stones, metals, and products were among the 45 items whose prices decreased compared to the period beginning May 1, 2023.

Except for rice, which decreased by 1.2% (reaching 193 million USD), the rest of the agricultural and fishing products increased by double digits or more. Specifically, vegetables and fruits increased by 81% (reaching 422 million USD), while cashew nuts increased by 55% (reaching 206 million USD) to rank second. Next is tea at 44%, followed by aquatic products at 40%, coffee at 28%, pepper at 30%, and cassava at 14%.

In the category of electronic products, phones of all types and their components increased by 60%, cameras, camcorders, and their components by 56%, other machinery, equipment, tools, and spare parts by 48%, and computers, electronic products, and their components by 38%.

Compared to the first half of May 2023, exports of coal in the fuel group decreased by 71%. Other commodities, including crude oil, petrol, chemicals, ore, and minerals, grew by 29%, 203%, 7.4%, and 58%, respectively. This is the only item among Vietnam's 45 major exports with triple-digit growth, particularly for petroleum products.

In terms of value, during the second half of the month of May, Vietnam exports five billion-dollar-plus products, which account for 55% of its total export turnover. Computers, electronic components, and products reached 2.59 billion US dollars; machinery, equipment, tools, and spare parts reached 1.93 billion US dollars; phones and components reached 1.92 billion US dollars; textiles reached 1.71 billion US dollars; and footwear reached 1.01 billion US dollars.

Two imports worth billions of dollars

In the second half of May 2023, Vietnam's imports of liquefied petroleum gas increased by 502% to reach 90 million US dollars, while imports of soybeans rose by 145% to 61 million US dollars.

When 46 of 53 imported items increased in value, the growth of other imported items was also relatively robust. Specifically, in the agricultural and aquatic products group, sales of soy products increased by 145% to 61 million USD, followed by sales of maize products, which increased by 59% to 80 million USD. Cashews and wheat prices increased by 11.8% and 10.1%, to $170 million and $77 million, respectively.

Also increasing by 5% and 9%, respectively, to $99 million and $84 million were seafood and vegetables. Milk and dairy products are the only items whose import value has decreased in comparison to the first half of May 2023, by -25%.

In the group of fuels, ores and minerals grew by 8% to reach 112 million USD; coal grew by 15% to reach 368 million USD; crude oil grew by 30% to reach 457 million USD; petrol grew by 6% to reach 328 million USD...

In the group of electronics, computers, electronic products, and components grew by 1%; household electrical goods grew by 29%; machinery, equipment, tools, and other spare parts grew by 7%... In contrast, mobile phones and components fell 1.5%, while cameras, camcorders, and accessories fell 2.8%...

With 3.08 billion USD, computers, electronic products, and electronic components were the most valuable imports in the second half of May 2023. With 1.85 billion USD, other machinery, equipment, tools, and spare parts ranked second.

Vietnam's imports and exports for the first five months of 2023 totaled 260.78 billion USD, a 15% decrease from the same period in 2022. Imports reached 125.56 billion USD, a decrease of 18%, while exports reached 135.22 billion USD, a decrease of 12%.

P.V