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VIETNAM’S TRADE STANDS STRONG IN THE WORLD SUPPLY CHAIN

In the context of the world getting downturn, Vietnam is reaching the estimated amount of over 700 billion USD in trade (import and export) for the year 2022 sourced from the statistics of the General Department of Customs in Nov, or nearly 61 billion USD per month is an amazing record.

Thanks to the gradual implementation of a multilateral and diversified foreign policy that has taken advantage of opportunities for cooperation in trade, investment, integration, and technology transfer as well as the nation’s economic growth, and special thanks to the hard efforts of enterprises in different economic sectors.

Since 1995, Vietnam began to open up and become more globally integrated, especially after joining The Association of Southeast Asian Nations (ASEAN), the ASEAN Free Trade Area (AFTA), and the World Trade Organization (WTO).

Vietnam’s economy has significantly changed over the past 30 years. In 2007, the total value of imports and exports first surpassed the landmark of $100 billion. It doubled to $200 billion four years later. Vietnam’s imports and exports also surpassed $300 billion by the end of 2015 and $600 billion by the end of November 2022 in the following four years. In 2022, the total import and export value reached USD 673.7 billion in just 11 months, in which the value of exports increased by 13.4% to USD 342 billion while imports increased by 10% to $331.5 billion. By the end of December, we – Voltrans Logistics strongly believe the number could be $730 billion or more.

According to the World Trade Organization (WTO), Vietnam is ranked in the top 30 nations and territories and second in ASEAN, only after Singapore for import and export volume. For the first time, our cargo export to the US reached 101 billion USD, accounting for 30 percent of Vietnam’s total export revenue.

By Thomas
Voltrans Logistics – Your Ware Our Care