China is Vietnam's largest import market


(VLR) According to the General Statistics Office (GSO), in 2021, the total export and import goods turnover reached a record number of USD 668.54 billion, up 22.6% compared to 2020.

The COVID-19 epidemic has occurred with many severe outbreaks that have negatively affected economic activities. The import and export activities were also seriously affected. According to the GSO, citizens tend to use domestic products instead of imported products because of closed borders gates to prevent epidemics.

Although GDP growth in 2021 is only 2.58%, import and export activities are still bright. Vietnam still maintains a high export growth rate despite many world economic fluctuations and global trade decline.

In December 2021, the total import and export turnover of goods was estimated at USD 66.2 billion, up 6% over the previous month and 19.2% over the same period last year.

In 2021, the total export and import goods turnover will reach USD 668.54 billion, up 22.6% compared to 2020. The export goods turnover will reach USD 336.31 billion, up 19% compared to 2020. Import goods turnover reached USD 332.23 billion, up 26.5% compared to 2020. 

About the export and import market in 2021, the United States is a large export market of Vietnam, with a turnover of 96.3 billion USD. Besides, China is Vietnam's largest import market with a turnover of 109.9 billion USD.

Although the COVID-19 epidemic has occurred since 2019, the trade balance of export and import of goods is still in surplus. Specifically, the trade surplus in 2019 reached 10.57 billion USD, in 2020 reached 19.94 billion USD.

By the end of 2021, the trade goods balance reached a trade surplus of 4.08 billion USD. Compared to 2020, the trade surplus in 2021 is only 20%. Still, thanks to the Government's goal of "Safely adapting, flexibly, effectively controlling the COVID-19 epidemic," it has helped import and export activities to develop stably.

In the face of the disruption of global international trade, Vietnam's exports and imports are still the bright spots of the whole economy, thereby maintaining the growth momentum for the entire economy.

Source: Internet

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