The General Statistics Office announced that Vietnam's total import-export turnover in 2023 is estimated at 683 billion USD, down from the 700 billion USD mark last year.
At the press conference announcing socio-economic statistics for the fourth quarter and 2023 on the morning of December 29, Ms. Nguyen Thi Huong, Director General of the General Statistics Office, said that due to the impact of declining global demand, 2023 is likely to be an unforgettable year for Vietnam's foreign trade sector, when import-export turnover decreased by 6.6% compared to the previous year, of which exports decreased by 4.4%, and imports decreased by 8.9%.
Despite the decrease in exports, Vietnam still achieved a trade surplus of 28 billion USD, the highest ever and much higher than the figure of 12.1 billion USD last year.
The General Statistics Office also said that goods exports in December 2023 were estimated at 32.91 billion USD, up 5.7% over the previous month, a positive sign of recovery in the fourth quarter of 2023. For the whole year of 2023, the estimated figure is 355.5 billion USD, down 4.4% over the previous year.
In 2023, there will be 35 items with export turnover of over 1 billion USD, accounting for 93.6% of total export turnover; of which, there are 7 items with export turnover of over 10 billion USD, accounting for 66%.
In contrast, goods imports in December 2023 are estimated at 30.63 billion USD, up 3.6%, marking a difficult recovery. Total goods import turnover for the whole year of 2023 is estimated at 327.5 billion USD, down 8.9%, with a sharp decline in the domestic and foreign-invested economic sectors.
In 2023, there were 44 imported items with a value of over 1 billion USD, accounting for 92.4% of total import turnover, of which 4 imported items were over 10 billion USD, accounting for 46.8%. With this result, Vietnam's trade in goods had a trade surplus of 28 billion USD, however, this was mainly due to a decrease in imports of raw materials and production materials due to a decrease in orders. This shows that the economy, industrial production and exports will continue to face difficulties in the coming time.
Although Vietnam's trade in goods has a large trade surplus, Vietnam continues to have a trade surplus in services. In the fourth quarter of 2023, service exports are estimated at 5.4 billion USD, up 15.2%, while service imports are estimated at 8.1 billion USD, up 20.4%. For the whole year of 2023, service exports will reach 19.59 billion USD, up 44.9%, with tourism services accounting for a large proportion.
The General Statistics Office also proposed solutions to achieve Vietnam's international trade goals. Ms. Nguyen Thi Huong proposed the need to continue to improve mechanisms and policies, create a favorable macro environment for exporting goods and develop sustainable exports. At the same time, it is necessary to promote the diversification of export markets and minimize risks from trade defense measures./.
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