July 28, 2017 07:36

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Preliminary assessment of Vietnam international merchandise trade performance in August and the 8 months of 2016

20:36 | 16/11/2016

1.According to trade statistics of Vietnam Customs, in August of 2016, an 8.1% increase in total external merchandise turnover of Vietnam was recorded as compared to the result of a month earlier. In which, exports increased 8.0 %, to US dollars 16.10 billion and imports went up 8.2%, to US dollars 15.52billion. As a result, there was a US dollars 573 million surplus reported in Vietnam’s trade balance in this month.

2. In the 8 months (January-August) of 2016, Vietnam‘s trade-in-goods reached US dollars 223.55 billion in total value, 3.3% above the corresponding period of 2015. As compared to result of the January-August period of 2015, total merchandise exports value was up 6.4% to US dollars 113.21 billion and the total merchandise imports value increased 0.3% to US dollars 94.74 billion. Accordingly, Vietnam’s trade balance in the 8 months of 2016 was in the surplus of US dollars 2.87 billion.

3. Trade data disseminated recently by Vietnam Customs Statistics recorded that the total value of exportation and importation by foreign direct invested (FDI) traders reached US dollars 143.94 billion in total in January-August period of 2016, up by 4.9% as compared to the result of corresponding period of 2015. Total value of FDI exportation was US dollars 78.97 billion, went up by 9.3%. On import side, the total value of those companies was US dollars 64.97 billion, went up by 0.1%.

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

Main Exports and Imports

4. The July of 2016 to August of 2016 increase in total merchandise exports was due to the upturns in mobile phones, telephones and parts thereof (up by US dollars 226 billion);computers, electrical products and parts thereof (up by US dollars 213 million); textiles and garments (up by US dollars 156 million); fishery products (up by US dollars 68 million);...

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

5. The commodities, of which the upwards resulted in significant expansion in total exports value in the 8 months of 2016 as compared to that of 2015, were as follows: telephones, mobile phones and parts thereof (up by US dollars 2.39 billion); computers, electrical products and parts thereof (up by US dollars 1.16 billion); machine, equipment, tools and instruments (up by US dollars 1.16 billion);…

6. The July of 2016 to August of 2016 increase in total merchandise imports was due to the upwards in machine, equipment, tools and instruments (up by US dollars 260 million); computers, electrical products and parts thereof (up by US dollars 199 million);...

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

7. From the beginning to August of 2016, Vietnam Customs Statistics recorded an increase in value terms of some imported commodities, which led to the upturns in total as compared to performance of the corresponding period in 2015. They were as follows: machine, equipment, tools and instruments (up by US dollars 2.46 billion); other base metals (up by US dollars 427 million); plastic products (down by US dollars 393 million)…

Trading Partners

8. In Jan-August period, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 143.54 billion in value terms, which moved up 1.1% as compared to the same period of 2015. Trade-in-goods of Vietnam with America was followed, which reached US dollars 39.54 billion and increased by 8.6%. The values of other continents were Europe: US dollars 32.97 billion, up by 8.4%; Oceania: US dollars 3.97 billion, up by 0.6% and Africa: US dollars 3.53 billion, down by 5.3% in comparison with the same period of prior year.

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

9.From the beginning of 2016 to August of 2016, 4 exporting markets of Vietnam with turnover of over US dollars 7 billion were The United States of America (reached US dollars 24.9 billion); China (reached US dollars 12.9 billion), Japan (reached US dollars 9.4 billion) and Republic of Korea (reached US dollars 7.2 billion).

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

10. On import side, there were four partners exporting goods to Vietnam with turnover of over US dollars 7 billion. They were as follows: China (reached US dollars 31.7 billion); Republic of Korea (reached US dollars 20.3 billion); Japan (reached US dollars 9.5 billion); Taiwan (reached US dollars 7.3 billion).

preliminary assessment of vietnam international merchandise trade performance in august and the 8 months of 2016

Source: Vietnam Customs