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Preliminary assessment of Vietnam international merchandise trade performance in July and the 7 months of 2016

07:42 | 10/10/2016

1.  According to trade statistics of Vietnam Customs, in July of 2016, a 0.6% fall in total external merchandise turnover of Vietnam was recorded as compared to the result of a month earlier. In which, exports increased 1.2 %, to US dollars 14.91 billion and imports went down 2.7%, to US dollars 14.34 billion. As a result, there was a US dollars 564 million surplus in Vietnam’s trade balance in this month.

2. In the 7 months of 2016, Vietnam‘s trade-in-goods totaled US dollars 191.73 billion in value terms, 2.0% above the corresponding period of 2015. As compared to result of the January-July period of 2015, total merchandise exports value rose 5.4% to US dollars 96.99 billion and the total merchandise imports value decreased 1.2% to US dollars 94.74 billion. Accordingly, Vietnam’s trade balance in the 7 months of 2016 was in the surplus of US dollars 2.26 billion.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached US dollars 119 billion in total in January-July period of 2016, up by 3.5% as compared to the result of corresponding period of 2015. Total value of FDI exportation was US dollars 67.60 billion, went up by 8.6%. On import side, the total value of those companies was US dollars 55.54 billion, went down by 2.1%.

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

Main Exports and Imports

4. The June of 2016 to July of 2016 increase in total merchandise exports was due to the upturns in textiles and garments (up by US dollars 80.6 million); machine, tools and instruments (up by US dollars 65.8 million); fishery products (up by US dollars 34.9 million);...

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

5. The commodities, of which the upwards resulted in significant expansion in total exports value in the 7 months of 2016 as compared to that of 2015, were as follows: telephones, mobile phones and parts thereof (up by US dollars 2.45 billion); machine, equipment, tools and instruments (up by US dollars 860 million); textiles and garments (up by US dollars 586 million); …

6. The June of 2016 to July of 2016 fall in total merchandise imports was due to the downwards in machine, equipment, tools and instruments (down by US dollars 122 million); iron and steel (down by US dollars 114 million);...

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

7. From the beginning to July of 2016, Vietnam Customs Statistics recorded a decrease in value terms of some imported commodities, which led to the downturns in total as compared to performance of the corresponding period in 2015. They were as follows: machine, equipment, tools and instruments (down by US dollars 1.04 billion); iron and steel products (down by US dollars 863 million); petroleum products (down by US dollars 638 million)…

Trading Partners

8. In Jan-July period, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 123.02 billion in value terms, which moved down 0.6% as compared to the same period of 2015. Trade-in-goods of Vietnam with America was followed, which reached US dollars 33.89 billion and increased by 8.8%. The values of other continents were Europe: US dollars 28.50 billion, up by 7.9%; Oceania: US dollars 3.33 billion, down by 2.0% and Africa: US dollars 2.98 billion, down by 5.6% in comparison with the same period of prior year.

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

9. From the beginning to July of 2016, 4 exporting markets of Vietnam with turnover of over US dollars 5 billion were The United States of America (reached US dollars 21.9 billion); China (reached US dollars 10.8 billion), Japan (reached US dollars 8.0 billion) and Republic of Korea (reached US dollars 6.0 billion).

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

10. On import side, there were four partners exporting goods to Vietnam with turnover of over US dollars 5 billion. They were as follows: China (reached US dollars 27.3 billion); Republic of Korea (reached US dollars 17.5 billion); Japan (reached US dollars 8.2 billion); Taiwan (reached US dollars 6.2 billion).

preliminary assessment of vietnam international merchandise trade performance in july and the 7 months of 2016

Source: Vietnam Customs