General

According to Vietnamese customs data, as of December 15, Vietnam's total import and export of goods had exceeded the US $700 billion mark. This figure broke the record of 600 billion dollars set last year.

According to the General Administration of Customs, Vietnam's import and export ranking is expected to be improved globally by virtue of its remarkable achievements in the import and export of goods in 2022.

Specifically, Vietnam's foreign trade has achieved a surplus after a long-term deficit. According to customs data, before 2011, Vietnam's foreign trade had been in the position of trade deficit, especially in 2008, when the total deficit reached the highest of 18.02 billion US dollars over the years. However, since 2012, Vietnam's trade surplus in goods has turned into a continuous surplus (except for 2015, with a deficit of 3.55 billion dollars). In 2020, Vietnam's trade surplus reached 19.94 billion US dollars, a record high. By the end of 2021, the trade surplus will drop to 3.32 billion US dollars.

According to customs data, in the first 11 months of 2022, with the export growth rate higher than the import, the trade surplus expanded again, reaching 10.68 billion US dollars. The total import and export volume of foreign direct investment (FDI) enterprises was US $468.7 billion, up 12.1% year on year.

The General Administration of Customs said that for many years, the United States has been the largest export market for Vietnamese goods, while China is the largest import market for Vietnamese goods.

According to customs data, from the beginning of the year to the end of November 2022, Vietnam's exports of goods to the United States reached 101 billion US dollars, up 17.7% year on year (about 15.2 billion US dollars). Meanwhile, Vietnam imported US $109.46 billion from China, up 10% (about US $9.93 billion). Therefore, in the first 11 months of 2022, Vietnam's exports to the United States and imports from China both exceeded the $100 billion mark, a record high.

According to the ranking of WTO, Vietnam's commodity import and export ranking has improved significantly. In 2006, Vietnam's total exports and imports ranked 50th and 44th respectively in the world. In 2018, Vietnam made remarkable progress, ranking 26th in exports and 23rd in imports. With the above achievements, Vietnam ranks among the 30 countries and regions with the largest total value of commodity imports and exports in the world.

According to the ranking of the World Trade Organization, in 2021, Vietnam's total import and export of goods will rank 23rd among the 30 countries and regions with the largest total import and export value in the world, and its total import of goods will rank 20th in the world. Vietnam's total imports and exports of goods rank the second in ASEAN, second only to Singapore.

According to customs data, in the past 20 years (2002 to 2021), Vietnam's total imports and exports reached 5.146 trillion US dollars. In the 10 years from 2012 to 2021 alone, Vietnam's total imports and exports will reach 4.11 trillion US dollars, nearly four times the total imports and exports of the previous 10 years.