January 21, 2017 07:15

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Preliminary assessment of Vietnam international merchandise trade performance in October and the 10 months of 2016

13:46 | 02/01/2017

1.  According to trade statistics of Vietnam Customs, in October of 2016, there was a 4.3% expansion in total external merchandise turnover of Vietnam as compared to the result of a month earlier. In which, exports went down 0.1 %, to US dollars 15.40 billion and imports moved up 8.9%, to US dollars 15.85 billion. As a result, there was a US dollars 445 million deficit in Vietnam’s trade balance in this month.

2. In the 10 months (January-October) of 2016, Vietnam‘s trade-in-goods reached US dollars 284.56 billion in total value, 4.6% above the corresponding period of 2015. As compared to result of the January-October period of 2015, total merchandise exports value was up 7.0% to US dollars 143.90 billion and the total merchandise imports value increased 2.2% to US dollars 140.66 billion. Accordingly, Vietnam’s trade balance in the 10 months of 2016 was in the surplus of US dollars 3.25 billion.

3. Trade data disseminated recently by Vietnam Customs reported that the total value of exportation and importation by foreign direct invested (FDI) traders totaled US dollars 184.16 billion in total in January-October period of 2016, up by 6.2% as compared to the result of corresponding period of 2015. Total value of FDI exportation was US dollars 100.88 billion, went up by 10.0%. On import side, the total value of those companies was US dollars 83.28 billion, went up by 2.0%.

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

Main Exports and Imports

4. The September of 2016 to October of 2016 decrease in total merchandise exports was due to the downturns in textiles and garments (down by US dollars 233 million); telephones, mobile phones and parts thereof (down by US dollars 77 million); rice (down by US dollars 61 million)...

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

5. The commodities, of which the upwards resulted in increase in total exports value in the 10 months of 2016 as compared to that of 2015, were as follows: telephones, mobile phones and parts thereof (up by US dollars 2.7 billion); computers, electrical products and parts thereof (up by US dollars 2.0 billion); machine, equipment, tools and instruments (up by US dollars 1.7 billion);…

6. The September of 2016 to October of 2016 increase in total merchandise imports was due to the upwards in computers, electrical products and parts thereof (up by US dollars 269 million); other means of transportation, parts and accessories thereof (up by US dollars 197 million);...

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

7. From the beginning to October 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: computers, electrical products and parts thereof (up by US dollars 3.47 billion); plastic products (up by US dollars 484 million); other base metal (up by US dollars 471 million)…

Trading Partners

8. In Jan-October period, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 183.01 billion in value terms, which moved up 2.5% as compared to the same period of 2015. Trade-in-goods of Vietnam with America was followed, which reached US dollars 50.49 billion and increased by 9.8%. The values of other continents were Europe: US dollars 41.51 billion, up by 8.6%; Oceania: US dollars 5.08 billion, up by 3.5% and Africa: US dollars 4.47 billion, down by 0.3% in comparison with the same period of prior year.

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

9. From the beginning to October of 2016, 4 exporting markets of Vietnam with turnover of over US dollars 9 billion were the United States of America (reached US dollars 31.6 billion); China (reached US dollars 17.3 billion), Japan (reached US dollars 11.9 billion) and Republic of Korea (reached US dollars 9.4 billion).

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

10. On import side, there were four partners exporting goods to Vietnam with turnover of over US dollars 9 billion in Jan-October period. They were as follows: China (reached US dollars 40.2 billion); Republic of Korea (reached US dollars 26.0 billion); Japan (reached US dollars 12.2 billion); Taiwan (reached US dollars 9.2 billion).

preliminary assessment of vietnam international merchandise trade performance in october and the 10 months of 2016

Source: Vietnam Customs