Trade surplus at $10.6B for 2022
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The trade surplus was US$0.78 billion in November, which took the year’s figure to $10.6 billion, the General Statistics Office said Tuesday.
The surplus in the same period last year was $0.6 billion.
But exports fell in November by 8.4% to $29.18 billion, which took the full-year figure to $342.21 billion.
The U.S. has been Vietnam’s biggest export market ($101.5 billion).
Meanwhile, imports were worth $331.61 billion, a year-on-year increase of 10.1%.
They included shipments of $109.9 billion from China, the biggest exporter to Vietnam.
Last year exports had been worth $336.31 billion, up 19%, and imports, $332.23 billion, up 26.5%, for a trade surplus of $4.08 billion.
The surplus has been growing since 2016, according to the GSO.
Questions & Answers
Q.How does the 2022 trade surplus compare to the previous year?
How does the 2022 trade surplus compare to the previous year?
The trade surplus for 2022 reached $10.6 billion. This is significantly higher than the $4.08 billion recorded in the previous year, showing substantial growth.
Q.Which countries are Vietnam's largest trade partners mentioned in the article?
Which countries are Vietnam's largest trade partners mentioned in the article?
The U.S. Was Vietnam’s biggest export market, with exports valued at $101.5 billion. China was the biggest exporter to Vietnam, with shipments worth $109.9 billion.
Q.What was the total value of Vietnam's exports and imports for 2022?
What was the total value of Vietnam's exports and imports for 2022?
Vietnam's full-year exports for 2022 totalled $342.21 billion. Imports for the same period were worth $331.61 billion, marking a 10.1% increase year-on-year.
Q.Has the trade surplus been consistently growing over time?
Has the trade surplus been consistently growing over time?
Yes, according to the General Statistics Office (GSO), the trade surplus has been growing steadily since 2016. This indicates a sustained positive trend in the country's trade balance.
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