Vietnam’s trade surplus reaches 6.35 billion USD in four months

Thursday, 04/05/2023 18:15
The General Statistics Office (GSO) said that in the first four months of 2023, export-import value of Vietnam reached 210.79 billion USD, down 13.6% year-on-year, with a trade surplus of 6.35 billion USD.

Durian prepared for export (Photo: 

In April alone, the import-export turnover stood at 53.57 billion USD, representing decreases of 7.7% from the previous month, and 18.8% from the same period last year, said the Vietnam News Agency.

During the four-month period, Vietnam exported about 108.57 billion USD worth of goods, a year-on-year drop of 11.8%, of which the domestic economic sector contributed 25.58 billion USD, down 11%.

As many as 20 items joined the more than one-billion-USD club, making up 83.8%  of the total export turnover.

Among groups of exports, fuels and minerals generated about 1.33 billion USD; processing industry commodities, 96.1 billion USD; agro-forestry products, 8.56 billion USD; and aquatic products, 2.58 billion USD.

Meanwhile, the country imported around 102.22 billion USD worth of goods from January to April, down 15.4% year-on-year, of which 36.62 billion USD came from the domestic economic sector, a decrease of 11.4%.

For import, the more than one-billion-USD club gathered 19 items that accounted for 75.8% of the combined value.

Vietnam’s trade surplus reaches 6.35 billion USD in four months (Photo: 

Vietnam spent 95.64 billion USD on production materials; and 6.58 billion USD on consumer goods in the four months.

The US was Vietnam’s biggest buyer with 28.4 billion USD, while China was the country’s largest exporter with 33.3 billion USD.

Given uncertainties in trading activities, the Ministry of Industry and Trade has maintained a close watch on market developments, supported enterprises to optimise free trade agreements and remove obstacles to their business and production, and worked to diversify markets and exports, and promote e-commerce.

Retail power price up 3% from May 4

The average retail price of electricity increases 3% to 1,920.373 VND (0.082 USD) per kWh from May 4, following a decision by the Vietnam Electricity (EVN) on adjusting the electricity retail prices, said the Vietnam News Agency.

Retail power price up 3% from May 4 (Photo: VTV) 

 According to the EVN, the decision, issued on April 27, was based on the Prime Minister’s Decision No.24/2017/QD-TTg on the mechanisms to amend the average power retail prices, and the Ministry of Industry and Trade’s Document No.304/BCT-ĐTDL on the implementation by the Cabinet.

Earlier, on March 31, the Ministry of Industry and Trade announced the inspection results on EVN’s power production and trading cost in 2021 and 2022, which showed that the cost rose 9.27% year on year in 2022 to over 2,032.26 VND per kWh, leading to a loss of over 26.46 trillion VND for the firm in the year.

Vietnam sees 41 new projects abroad licensed in last four months

In the first four months of this year, Vietnam saw 41 new projects abroad licensed with the investment from Vietnam reaching 140 million USD, a decline of 51% compared with that of the same period last year, the Vietnam News Agency reported.

Investment capital adjustments were made at 11 projects, increasing by 13.5 million USD in capital.

Vietnam sees 41 new projects abroad licensed in last four months (Photo: VNA)

Vietnam’s foreign investment consisting of both new investments and adjusted ones reached 153.5 million USD in the first four months of this year, a drop of 53.2% year on year.

According to the General Statistics Office, in the first four months of 2023, investment capital from the State budget was estimated at 131.2 trillion VND (5.6 billion USD), equaling 19% of the year plan and increasing by 17.9% over the same period last year.

Meanwhile, total foreign investment capital registered in Vietnam as of April 20 reached 8.88 billion USD, marking a year-on-year decrease of 17.9%.

Foreign direct investment capital in Vietnam in the first four months of 2023 was 5.85 billion USD, down 1.2% over the same period last year.

Local tourism industry rakes in cash from bumper national holiday

The recent five-day national break from April 29 to May 3 saw tourist destination and entertainment centres across the country attract hordes of holidaymakers, and it was no surprise that the local tourism industry coned it, according to Radio the Voice of Vietnam.

According to data provided by various tourism departments, Ho Chi Minh City, the central province of Thanh Hoa, Hanoi, and the central province of Nghe An were the top tourism earners, raking in trillions of VND in revenue during the five day break marking National Reunification Day (April 30) and International Workers’ Day (May 1).

The Ho Chi Minh City Department of Tourism reported that the southern city welcomed roughly 950,000 visitors, including 48,000 foreigners, and pocketed about VND3.13 trillion from tourism services. Its hotel room occupancy rate stood at 70%, marking an increase of 7% year on year. The southern metropolis also earned the highest tourism revenue throughout the country during the holiday.

Local tourism industry rakes in cash from bumper national holiday (Photo: 

Tourist attractions in the central province of Thanh Hoa also attracted a record high of arrivals. Despite facing unfavourable weather on the initial days of the holiday, the province welcomed nearly 1.2 million visitors, an annual increase of 33%. Sam Son city saw the highest number of visitors with about 850,000, whilst total tourism revenue reached about VND2.8 trillion, up 48% compared to last year.

The Tourism Department of Hanoi shared that during the five-day break the capital served more than 720,000 tourists, including 69,500 foreigners, and earned around VND2.4 trillion, equal to US$102.2 million, from services. Among the capital’s popular destinations, Hanoi Zoo attracted the largest number of visitors, with more than 130,000, whilst hotel room occupancy reached more than 58%, up 16% over the same period from 2022.

Meanwhile, around 120,000 visitors flocked to the resort city of Da Lat in the Central Highlands province of Lam Dong. Of the total, 4,500 were foreigners, representing a year on year surge of 221.4%.

The reviewed period saw around 185,000 visitors flock to Sa Pa, a tourist destination located in the northern mountainous province of Lao Cai, with hotel room occupancy on the first three days of the holiday reaching 95%.

Some localities which also saw large numbers of holiday-makers include Nghe An that welcomed 780,000 visitors and earned VND1.5 trillion, Quang Ninh (620,000 visitors and VND900 billion), Khanh Hoa (800,000 visitors and over VND850 billion), and Ba Ria-Vung Tau (411,000 visitors and VND633 billion).

However, the tourist hotspot of Phu Quoc saw a decline in the number of travelers with only over 112,000, a drop of 11.5% over the same period from last year, and its total revenue from tourism services also fell 24% to VND132.5 billion. One of the main reasons for this decline was due to high airfares, and as a result its room occupancy rate dropped to below 50%./.

Compiled by BTA