The total export turnover of goods in April 2023 is estimated to be 27.54 billion USD, a decrease of 7.3% compared to the previous month and a decline of 17.1% compared to the same period last year. 

On April 29th, the General Statistics Office (Ministry of Planning and Investment) released a report on the economic and social situation in April and the first 4 months of 2023. Accordingly, the Consumer Price Index (CPI) in April 2023 decreased by 0.34% compared to the previous month. Compared to December 2022, CPI increased by 0.39%, and compared to the same period last year, it increased by 2.81%.

On average, in the first 4 months of 2023, CPI increased by 3.84% compared to the same period last year; core inflation increased by 4.9%, higher than the average CPI increase (3.84%). 

The General Statistics Office stated that the decrease in food prices due to abundant supply and adjustments to tuition fees in some localities according to Resolution No. 165/NQ-CP were the main reasons for the 0.34% decrease in CPI in April compared to the previous month.

Of the 11 groups of goods and services for consumer spending, 7 groups saw price decreases compared to the previous month and 4 groups saw price increases.

Regarding the import and export of goods, according to the statistics agency, the estimated export turnover of goods in April 2023 is 27.54 billion USD, a decrease of 7.3% compared to the previous month and a decline of 17.1% compared to the same period last year. In total, for the first 4 months of 2023, the estimated export turnover of goods is 108.57 billion USD, a decrease of 11.8% compared to the same period last year.

The estimated import turnover of goods in April 2023 is 26.03 billion USD, a decrease of 8.1% compared to the previous month and a decline of 20.5% compared to the same period last year. In total, for the first 4 months of 2023, the estimated import turnover of goods is 102.22 billion USD, a decrease of 15.4% compared to the same period last year.

In terms of export and import markets for the first 4 months of 2023, the US is the largest export market for Vietnam with an estimated turnover of 28.4 billion USD. China is the largest import market for Vietnam with an estimated turnover of 33.3 billion USD.

The trade balance of goods for the first 4 months of 2023 is estimated to have a surplus of 6.35 billion USD (compared to a surplus of 2.35 billion USD in the same period last year). Of this, the domestic economic area has a trade deficit of 8.04 billion USD, while the foreign-invested area (including crude oil) has a trade surplus of 14.39 billion USD.

According to the statistics agency, the number of international visitors to Vietnam in April 2023 is estimated at 984.1 thousand, an increase of 9.9% compared to the previous month and 9.7 times higher than the same period last year. In total, for the first 4 months of 2023, the estimated number of international visitors to Vietnam is over 3,683.7 thousand, 19.2 times higher than the same period last year but still only equal to 61.7% compared to the same period in 2019 – a year before the COVID-19 pandemic.

Source: Cafe F