It’s noteworthy that the economy endured an import surplus of up to US$1.2 billion between January and May 2021.
In fact, the country’s trade deficit soared to a record high of US$1.73 billion in May 2022, but an export surplus of US$2.25 billion obtained in January – April help the national economy secure trade surplus in five months.
The General Statistics Office (GSO) reported on May 29 that Vietnam earned US$30.48 billion from export in May, a month-on-month fall of 8.5%. However, its five-month exports fetched US$152.81 billion, an increase of 16.3% year on year.
There are 26 export commodities that raked in more than US$1 billion each. Of them, five groups of commodities that attained an export value of more than US$5 billion each, are electronics, computers and components; machinery and equipment; phones and spare parts; garments; plastics; and iron-steel.
Also according to the GSO, the index of industrial production (IIP) in May 2022 increased by 4% over the previous month and by 10.4% over the same period last year. Overall, the past five months saw the IIP rise by 8.3% compared to the same period last year.