June 23, 2018 21:20

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Preliminary assessment of Vietnam international merchandise trade performance in the first 4 months of 2018

19:41 | 12/06/2018

1. According to trade statistics of Vietnam Customs, in April 2018, an 11.1% downwards in total external merchandise turnover of Vietnam was recorded on month-on-month basis. Exports went down 13.1%, to USD 18.37 billion and imports decreased 8.9%, to USD 17.2 billion as compared to the result of March 2018. As a result, there was a USD 1.16 million surplus in Vietnam’s trade balance in this month.

​2. From the beginning to April of 2018, Vietnam‘s trade-in-goods totaled US dollars 143.89 billion in value terms, 14.3% above the corresponding period of last year. On year-on-year basis, total merchandise exports value rose 19.2%, to US dollars 73.89 billion and the total merchandise imports value increased 9.5% to US dollars 70.0 billion. Accordingly, Vietnam’s trade balance in the first 4 months of 2018 was in the surplus of US dollars 3.89 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 USD 93.92 billion in total from beginning to April 2018, up by 13.7% as compared to the result of corresponding period of 2017. Total value of FDI exportation was USD 52.44 billion, went up by 19.4 %. On import side, the total value of those companies was USD 41.48 billion, went up by 7.2%.

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

Main Exports and Imports

4. On month-on-month basis, a decrease in total merchandise exports was due to the downturns in telephones, mobile phones and parts thereof (down by USD 1.78 billion); textiles and garments (down by USD 203 million); machine, equipment, tools and instruments (down by USD 504 million)…

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

5. On a year-on-year basis, exports expanded USD 11.89 billion. The main products, which contributed to the increase, were telephones, mobile phones and parts thereof (up by USD 3.94 billion); machine, equipment, tools and instruments (up by USD 1.18 billion); textiles and garments (up by USD 1.08 billion); computers, electrical products, spare-parts and components thereof (up by USD 963 million)...

6. On month-on-month basis, a reduction in total merchandise imports was due to the downturns of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 974 million); machine, equipment, tools and instruments (down by USD 268 million); other base metal (down by USD 175 million); …

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

7. On a year-on-year basis, imports went up USD 6.06 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 2.17 billion); petroleum products (up by USD 679 million); other base metals (up by USD 455 million); telephones, mobile phones and parts thereof (up by USD 430 million) …

Trading Partners

8. In the first 4 months of 2018, Vietnamese merchandise trade with trading partners in Asia was totaled USD 95.95 billion in value terms, which moved up 14.2% as compared to the same period of 2017. Trade-in-goods of Vietnam with America was followed, which reached USD 23.12 billion and increased by 11.8%. The values of other continents were Europe: USD 20.07 billion, up by 16.6%; Oceania: USD 2.72 billion, up by 20% and Africa: USD 2.03 billion, up by 14.6% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

9. For January-April period of 2018, 4 importing markets of Vietnam with turnover of over USD 5 billion were: The United States of America (reached USD 13.8 billion); China (reached USD 11 billion); Republic of Korea (reached USD 5.8 billion); Japan (reached USD 5.8 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 18.7 billion); Republic of Korea (reached USD 14.9 billion); Japan (reached USD 5.7 billion). ​

preliminary assessment of vietnam international merchandise trade performance in the first 4 months of 2018 7315

Source: Vietnam Customs