Vietnam records trade deficit in first two months of 2022

SGGP
According to the General Department of Vietnam Customs, the country had a trade deficit of US$581 million in the first two months of this year.
The General Department of Vietnam Customs, on the afternoon of March 4, provided information on the import and export situation of the whole country in the first two months of 2022.

Accordingly, the total imports and exports of Vietnamese goods in February reached $48.8 billion, down 19.1 percent. In the first two months of this year, total imports and exports touched $109.62 billion, up 14.2 percent over the same period last year.

After having a surplus in the first month of the year, Vietnam's merchandise trade balance in February changed direction, with a trade deficit of $1.96 billion. Therefore, the country had a trade deficit of $581 million in the first two months of 2022.

According to the Ministry of Agriculture and Rural Development, the group of agricultural, forestry, and fishery products saw a trade surplus of $1.8 billion in the first two months of the year. Meanwhile, the Ministry of Industry and Trade informed that the US was the largest export market of Vietnam in the first two months of the year, with an estimated turnover of $16.83 billion. In the opposite direction, imports from the US were $2 billion.

By Phuc Van – Translated by Bao Nghi

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