According to the latest preliminary statistics just released by the General Department of Customs, the total value of imports and exports of Vietnamese goods in the period from March 1, 2023 (from March 1 to March 15, 2023) reached 27.2 billion USD, an increase of 17.3%. (equivalent to $4 billion) compared to second half February 2023 results.

The results achieved in the first half of March 2023 led the country’s total import-export value to reach US$122.95 billion by the end of March 15, 2023, down 13%, representing a value loss of 18, equates to $39 billion. absolute figure in the same period in 2022. During that period, the total import-export value of foreign direct investment (FDI) enterprises reached $86.66 billion, down 12.1% (equivalent to a decrease of $11.9 billion).

In particular, exports reached US$13.34 billion in March 1, 2023, up 6.9% (equivalent to an increase of US$865 million in absolute terms) compared to February 2, 2023.

Some commodity groups with an export value in March 1, 2023 increased compared to February 2, 2023, including: Computers, electronic products and components with an increase of USD 342 million (an increase of 18.2%). ; Textiles and apparel grew by USD 149 million (an increase of 13.7%); Glass and glass products were up $107 million (both up 297%); Transportation and other spare parts increased by $100 million (an increase of 21.6%)…

From the beginning of the year to the end of March 15, 2023, Vietnam’s total export value reached US$62.94 billion, down 10.8% (equivalent to US$7.64 billion) compared to the same period in 2022. .

A number of product groups declined, e.g. B. Textiles & Clothing declined $1.27 billion (representing a decrease of 18%); Lumber and wood products declined USD 963 million (a decrease of 30.6%); Computers, electronic products and components decreased by USD 906 million (equivalent to 8.9%); Phones and components decreased by $577 million (equivalent to 5%) compared to the same period in 2022.

Statistics from the General Department of Customs also show that the export value of goods by FDI companies reached US$9.75 billion in the first period of March 2023, up 5.7% (equivalent to an increase of US$525 million Dollar). the period from February 2, 2023.

From the beginning of the year to the end of March 15, 2023, the total export value of commodities of the group of FDI companies reached US$47.08 billion, down 8.7%, down US$4.49 billion from that same period last year, accounting for 74.8% of the country’s total export value.

From the opposite direction, as of March 1, 2023, the value of Vietnam’s imported goods reached $13.83 billion, an increase of 29.4% (equivalent to an absolute increase of $3.14 billion) compared to the result second half of February 2023.

The import value of goods in the first period of March 2023 increased compared to the period of February 2, 2023, mainly in the following product groups: computers, electronic products and components, increased by 620 million (620 million) 23.7%); Machinery, equipment, tools and parts increased by $383 million (equivalent to 28.7%); Textile, Garment, Leather & Footwear (Cotton, Fabric, Fiber, Textiles, Garment & Footwear Accessories) raw materials increased $277 million (equivalent to 34%).

Thus, the country’s total import value from the beginning of the year to the end of March 15, 2023 reached USD 60 billion, down 15.2% (equivalent to USD 10.75 billion) compared to the same period in 2022.

Some product groups fell sharply, e.g. B.: Phones and Components decreased by $2.92 billion (equivalent to 64.5%); Computers, Electronic Products & Components declined $1.95 billion (equivalent to 11%); Other machinery, equipment, tools and spare parts decreased by US$1.44 billion (equivalent to 16.5%) compared to the same period in 2022.

The goods import value of FDI companies reached US$8.71 billion during this period, up 24.1% (equivalent to US$1.69 billion) compared to the 2nd period in February 2023.

From the beginning of the year to the end of March 15, 2023, the total import value of the group of FDI companies reached US$39.6 billion, down 15.8% (equivalent to US$7.42 billion) from the same period last year . 66% of the country’s total import value.

With the above results, the goods trade balance showed a deficit of USD 490 million in the first period of March 2023. From the beginning of the year to the end of March 15, 2023, the goods trade balance showed a surplus of $2.94 billion.

Although export activity showed positive signs in the first March period, the 6% growth target for the full year 2023 still faces many challenges.

That means world trade will continue to come under pressure due to rising geopolitical tensions and conflicts between major powers. High inflation, tight import and export markets along with tight monetary policies and Covid-19 prevention and control in some countries will also have a major impact on domestic and export commodity markets if Vietnam’s economy has a large unfavorable openness, according to the report.

In addition, the requirements for environmental protection and greening standards for products from importing countries are becoming increasingly strict. New export market standards will impact the entire supply chain, forcing exporters to change to meet them. For example, the European Union will introduce the Carbon Border Adjustment Mechanism (CBAM), which will levy a carbon tax on all goods exported to that market based on the intensity of greenhouse gas emissions from production in the host country. This is a new factor that has a great impact on the competitiveness of products.

In order to meet the target of export growth in 2023, the Ministry of Industry and Trade is focusing on the synchronous and effective implementation of the effective free trade agreements to expand and diversify markets and chains. Strong shift to official export combined with brand building, promotion of sustainable export.