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Preliminary assessment of Vietnam international merchandise trade performance in June and the first half of 2016

16:42 | 05/09/2016

1.  According to trade statistics of Vietnam Customs, in June of 2016, a 1.9% expansion in total external merchandise turnover of Vietnam was recorded as compared to the result of prior month. In which, exports increased 2.5 %, to US dollars 14.73 billion and imports went up 1.3%, to US dollars 14.74 billion. As a result, there was a US dollars 17 million deficit in Vietnam’s trade balance in this month.

2. From the beginning to June of 2016, Vietnam‘s trade-in-goods totaled US dollars 162.56 billion in value terms, 2.4% above the corresponding period of 2015. As compared to result of the January-June period of 2015, total merchandise exports value rose 5.7% to US dollars 82.13 billion and the total merchandise imports value decreased 0.8% to US dollars 80.43 billion. Accordingly, Vietnam’s trade balance in the first half of 2016 was in the surplus of US dollars 1.7 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 104.45 billion in total in the first half of 2016, up by 3.6 % as compared to the result of corresponding period of 2015. Total value of FDI exportation was US dollars 57.34 billion, went up by 8.9%. On import side, the total value of those companies was US dollars 47.11 billion, went down by 2.1%.

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

Main Exports and Imports

4. The May of 2016 to June of 2016 increase in total merchandise exports was due to the upturns in textiles and garments (up by US dollars 454 million); computers, electrical products and spare-parts thereof (up by US dollars 159 million); machine, tools and instruments (up by US dollars 79 million);...

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

5. The commodities, of which the upwards resulted in significant expansion in total exports value in the first half of 2016 as compared to that of 2015, were as follows: telephones, mobile phones and parts thereof (up by US dollars 2.33 billion); textiles and garments (up by US dollars 649 million); machine, equipment, tools and instruments (up by US dollars 663 million);…

6. The May of 2016 to June of 2016 upturn in total merchandise imports was due to the upwards in telephones, mobile phones and parts thereof (up by US dollars 113 million); iron and steel (down by US dollars 118 million);...

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

7. From the beginning to June 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 829 million); iron and steel products (down by US dollars 754 million); petroleum products (down by US dollars 497 million)…

Trading Partners

8. In Jan-June period, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 104.46 billion in value terms, which moved down 0.3% as compared to the same period of 2015. Trade-in-goods of Vietnam with America was followed, which reached US dollars 28.65 billion and increased by 9.6%. The values of other continents were Europe: US dollars 24.21 billion, up by 8.7%; Oceania: US dollars 2.82 billion, down by 5.2% and Africa: US dollars 2.43 billion, down by 6.7% in comparison with the same period of prior year.

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

9. From the beginning to June of 2016, 4 exporting markets of Vietnam with turnover of over US dollars 5 billion were The United States of America (reached US dollars 17.9 billion); China (reached US dollars 9.1 billion), Japan (reached US dollars 6.7 billion) and Republic of Korea (reached US dollars 5.1 billion).

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

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 23.2 billion); Republic of Korea (reached US dollars 14.8 billion); Japan (reached US dollars 6.9 billion); Taiwan (reached US dollars 5.3 billion).

preliminary assessment of vietnam international merchandise trade performance in june and the first half of 2016 894

Source: VietnamCustoms