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| Illustrative photo (Source: SGGP) |
The Office reported that the total import and export turnover of goods in May was estimated at USD55.86 billion, up 5.3% compared to last month and down 12.3% from the same period last year.
Generally in the first 5 months of the year, the total import-export turnover of goods was estimated at USD262.54 billion, down 14.7% from the same period last year, of which exports decreased by 11.6%, and imports decreased by 17.9%. Specifically, the export turnover of goods in May was estimated at USD29.05 billion, up 4.3% compared to the previous month. Generally in the first 5 months of 2023, export turnover of goods was estimated at USD136.17 billion, down 11.6% from the same period last year.
In the first 5 months of 2023, there were 23 items with export turnover of over USD1 billion, accounting for 87.4% of total export turnover.
In terms of imports, the total import turnover of goods in May was estimated at USD26.81 billion USD, up 6.4% from the previous month. Generally in the first 5 months of 2023, import turnover of goods was estimated at USD126.37 billion, down 17.9% from the same period last year.
In the first 5 months of 2023, there were 24 imported items with a value of over USD1 billion, accounting for 81.2% of the total import turnover.
In terms of the import and export markets in the first 5 months of 2023, the US is the largest export market of Vietnam with an estimated turnover of USD37.2 billion. China is Vietnam's largest import market with an estimated turnover of USD43.4 billion.
Generally, in the first 5 months of the year, the trade balance of goods was estimated to have a trade surplus of USD9.8 billion. In which, the domestic economic sector had a trade deficit of USD8.76 billion, while the foreign investment sector (including crude oil) had a trade surplus of USD18.56 billion./.