Domestic firms suffer nearly $4 bln trade deficit in first two months of 2022

The FDI sector, however, had a trade surplus of $3.02 billion.

In the first two months of 2022, export turnover of goods was estimated at $53.79 billion, up 10.2 percent over the same period last year, of which the domestic economic sector reached $14.29 billion, an increase 24.1 percent, accounting for 26.6 percent of total export turnover.

Exports of FDI sector reached $39.5 billion, up 5.9 percent, accounting for 73.4 percent. There were 9 items with export turnover of over $1 billion, accounting for 71.6 percent of total export turnover.

In the Jan.-Feb. period, total retail sales of consumer goods and services increased by 1.7 percent over the same period last year. Total import and export turnover of goods was estimated at $108.52 billion, up 13 percent. Passenger transportation dropped by 21.8 percent, passenger turnover decreased by 27.2 percent.

Regarding the structure of export commodity groups in the first 2 months of 2022, fuel and mineral products increased by 0.1 percentage points over the same period last year. Exports of processed industrial products fell by 0.8 percentage points; aquatic products increased by 0.7 percentage points.

The United States was the largest export market of Vietnam with an estimated turnover of $18.3 billion while China is Vietnam's largest import market with an estimated turnover of $20.8 billion.

Trade surplus to the EU market was estimated at $5.5 billion, up 56.6 percent over the same period last year. Trade surplus to Japan is $566 million. Trade deficit from China was $13.4 billion, up 78.8 percent.

February export turnover reached $22.95 billion, down 25.6 percent over the previous month and up 13.2 percent over the same period last year.