Total import-export turnover of Vietnam in 2022 is forecast to reach USD 740-750 billion

Total import-export turnover of Vietnam in 2022 is forecast to reach USD 740-750 billion, an increase of 13-15% over the previous year.

According to Mr. Nguyen Viet Phong - Director of the Department of Trade Statistics (General Statistics Office), Vietnam's production capacity for export has a lot of room to continue to grow strongly in 2022.

Vietnam's approach to pandemic prevention and control has changed, therefore, the adaptation of production and business activities to the pandemic in general and the activities of export enterprises in particular will not be greatly affected in 2022.

Economic expert, Dr. Can Van Luc forecasts that exports in 2022 would reach USD 372 - 380 billion, an increase of 13 - 15%; imports would reach USD 366 - 372 billion, an increase of 11 - 13% compared to 2021. Therefore, in 2022, Vietnam's trade balance will continue to be positive USD 4 - 8 billion.

“The pandemic is forecast to be better controlled, along with new-generation free trade agreements (FTAs) taking effect, continuing to open up new opportunities for Vietnam's trade, investment and tourism. Accordingly, in 2022, the total import-export turnover is forecast to increase by 13 - 15%, reaching USD 740 - 750 billion. However, the global import and export situation may be affected by the outbreak of new strains of COVID-19, causing global trade to decline”, Mr. Luc emphasized.

The survey results of processing and manufacturing enterprises just conducted by the General Statistics Office have also shown that import and export activities in 2022 will continue to grow, when up to 83.3% of enterprises are of the opinion that, the number of new export orders increased or remained the same as in the fourth quarter of 2021.

It is forecast that in 2022, import and export will continue to accelerate. It is known that in 2021, import and export activities are the bright spot of the economy with a total turnover of nearly  USD 669 billion, an increase of 22.6% over the previous year.