November 20, 2017 10:41

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Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2017

10:22 | 31/10/2017

1.  According to trade statistics of Vietnam Customs, in September 2017, a 1.0% downwards in total external merchandise turnover of Vietnam was recorded on month-on-month basis. Exports decreased 2.1 %, to USD 19.34 billion and imports slightly went up 0.3%, to USD 18.24 billion as compared to the result of September 2016. As a result, there was a USD 1.1 billion surplus in Vietnam’s trade balance in this month.

2. From the beginning to September of 2017, Vietnam‘s trade-in-goods totaled US dollars 308.31 billion in value terms, 21.3% above the corresponding period of last year. As compared to result of the first 9 months of 2017, total merchandise exports value rose 20%, to US dollars 154.32 billion and the total merchandise imports value increased 22.7% to US dollars 153.99 billion. Accordingly, Vietnam’s trade balance in January-September period of 2017 was in the surplus of US dollars 328 million.

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 204.46 billion in total from beginning to September 2017, up by 24.8 % as compared to the result of corresponding period of 2016. Total value of FDI exportation was USD 109.1 billion, went up by 21.4%. On import side, the total value of those companies was USD 95.36 billion, went up by 29%.​

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

Main Exports and Imports

4. On month-on-month basis, a decrease in total merchandise exports was due to the downturns in textiles and garments (down by USD 299 million); foot-wears (down by USD 225 million); machine, equipment, tools and instrument (down by USD 164 million); computers, electrical products and parts thereof (up by USD 339 million)… An increase occurred in exportation of some commodities such as: telephones, mobile phones and parts thereof (up by USD 725 million); still image, video cameras and parts thereof (up by USD 54 million;…

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

5. On a year-on-year basis, exports expanded USD 25.76 billion. The main products, which contributed to the increase, were telephones, mobile phones and parts thereof (up by USD 6.01 billion); computers, electrical products, spare-parts and components thereof (up by USD 5.42 billion); machine, equipments, tools and instruments (up by USD 2.13 billion); textiles and garments (up by USD 1.48 million).

6. On month-on-month basis, an expansion in total merchandise imports was due to the upturns of the commodities as follows: computers, electrical products, spare-parts and components thereof (up by USD 683 billion); telephones, mobile phones and parts thereof (up by USD 477 million)… A decrease occurred in importation of some commodities such as: machine, equipments, tools and instruments (down by USD 281 million); cashew nuts (down by USD 219 million); …

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

7. On a year-on-year basis, imports went up USD 21.43 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 7.2 billion); machine, equipments, tools and instruments (up by USD 5.1 million); telephones, mobile phones and parts thereof (up by USD 3.32 million)…

Trading Partners

8. In the first 9 months of 2017, Vietnamese merchandise trade with trading partners in Asia was totaled USD 203.8 billion in value terms, which moved up 24.9% as compared to the same period of 2016. Trade-in-goods of Vietnam with America was followed, which reached USD 50.54 billion and increased by 12.5%. The values of other continents were Europe: USD 42.64 billion, up by 14.8%; Oceania: USD 5.68 billion, up by 26.0% and Africa: USD 5.42 billion, up by 35.1% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

9. For January-September period of 2017, 4 importing markets of Vietnam with turnover of over USD 10 billion were: The United States of America (reached USD 31 billion); China (reached USD 22.2 billion); Japan (reached USD 12.3 billion) and Republic of Korea (reached USD 10.7 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 41.7 billion); Republic of Korea (reached USD 34.4 billion); Japan (reached USD 11.9 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 9 months of 2017

Source: Vietnam Customs