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Vietnam's total import and export turnover of goods reached nearly $558 billion in the first 10 months of 2023, down 9.6% over the same period last year, with an estimated trade surplus of $24.61 billion.
Vietnamese wood businesses are facing countless difficulties due to a lack of orders, rising costs, and slow tax refunds, and many of them have scaled back operations as they wait for the market to recover.
Vietnam’s export turnover is estimated to reach 29.3 billion USD in June, a month-on-month rise of 4.5%, which shows that the market is gradually recovering thanks to trade promotion activities, according to the General Statistics Office.
The localities that contributed to large export turnover such as Ho Chi Minh City, Bac Giang, Thai Nguyen and Binh Duong all had export turnover decrease by many billions of USD in the first 6 months of 2023.
Ho Chi Minh City’s export turnover in the first half of this year reached an estimated 19.42 billion USD, down 22.4% year-on-year.