MoIT forecasts total export turnover in 2022 to reach 368 billion USD

The report on the assessment of the implementation of the plan in 2022 and the plan for 2023, for the Industry and Trade sector has been sent to the Ministry of Planning and Investment. In the first six months of 2022, import and export turnover continued to increase, with a total turnover of more than 371.3 billion USD. The export of goods increased by 17.3% over the same period last year, reaching more than 186 billion USD.

Based on preliminary export figures in the first six months of the year, the MoIT said that the export turnover of goods in 2022 is estimated at 368 billion USD, an increase of about 9.46% compared to 2021, exceeding the target.

According to the MoIT, businesses have made good use of free trade agreements (FTAs), especially new-generation FTAs to promote exports. The trade balance continued to maintain a trade surplus of 743 million USD, making a positive contribution to the balance of payments, stabilising the exchange rate and stabilising other macroeconomic indicators of the economy.

In the second half of 2022, the demand for Vietnam's export goods is expected to continue to increase according to the import-export cycle and the efficiency of free trade agreements, especially CPTPP, EVFTA, UKVFTA, and RCEP, which are being implemented more comprehensively and effectively. It is forecasted that import and export activities will continue to prosper.

The industry and trade industry has set a target that export turnover will increase by about 8% compared to 2022.