September 23, 2017 20:12

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

10:15 | 14/08/2017

1. According to trade statistics of Vietnam Customs, in June 2017, a 1.4% downwards in total external merchandise turnover of Vietnam was recorded on month-on-month basis. In which, exports decreased 0.8 %, to USD 17.80 billion and imports went down 2.0%, to USD 18.09 billion. As a result, there was a USD 292 million deficit in Vietnam’s trade balance in this month. ​

2. From the beginning to June of 2017, Vietnam‘s trade-in-goods totaled US dollars 198.22 billion in value terms, 21.5% above the corresponding period of 2016. As compared to result of the first half of a year earlier, total merchandise exports value rose 18.8%, to US dollars 97.72 billion and the total merchandise imports value increased 24.1% to US dollars 100.50 billion. Accordingly, Vietnam’s trade balance in January-June period of 2017 was in the deficit of US dollars 2.78 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 129.62 billion in total from beginning to June 2017, up by 23.9 % as compared to the result of corresponding period of 2016. Total value of FDI exportation was USD 68.97 billion, went up by 20.1%. On import side, the total value of those companies was USD 60.66 billion, went up by 28.4%.

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

Main Exports and Imports

4. On month-on-month basis, a reduction in total merchandise exports was due to the downturns in telephones, mobile phones and parts thereof (down by USD 904 million); machine, equipment, tools and instruments (down by USD 171 million); fruit and vegetable (down by USD 103 million)... An increase occurred in exportation of some commodities such as: textiles and garments (up by USD 446 million); computers, electrical products, spare-parts and components thereof (up by USD 189 million); crude oil (up by USD 67 million)…

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

5. On a year-on-year basis, exports expanded USD 15.50 billion. The main products, which contributed to the increase, were computers, electrical products, spare-parts and components thereof (up by USD 3.63 billion); telephones, mobile phones and parts thereof (up by USD 2.52 billion); machine, equipments, tools and instruments (up by USD 1.42 billion); textiles and garments (up by USD 918 million)…

6.On month-on-month basis, decrease in total merchandise imports was due to the downwards of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 123 million); iron and steel (down by USD 120 million); were computers, electrical products, spare-parts and components thereof (down by USD 76 million)…

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

7. On a year-on-year basis, imports went up USD 19.54 billion. The growth in imports was mainly contributed by the upturns of the following products: machine, equipments, tools and instruments (up by USD 4.96 billion); computers, electrical products, spare-parts and components thereof (up by USD 3.65 million); telephones, mobile phones and parts thereof (up by USD 1.44 million)…

Trading Partners

8. In the first half of 2017, Vietnamese merchandise trade with trading partners in Asia was totaled USD 130.92 billion in value terms, which moved up 24.7% as compared to the same period of 2016. Trade-in-goods of Vietnam with America was followed, which reached USD 32.81 billion and increased by 14.4%. The values of other continents were Europe: USD 27.51 billion, up by 13.3%; Oceania: USD 3.64 billion, up by 28.7% and Africa: USD 3.34 billion, up by 36.7% in comparison with the same period of last year.

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

9. For January-April period of 2017, 4 importing markets of Vietnam with turnover of over USD 6 billion were: The United States of America (reached USD 19.7 billion); China (reached USD 13.0 billion); Japan (reached USD 8.0 billion) and Republic of Korea (reached USD 6.6 billion).

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

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 26.8 billion); Republic of Korea (reached USD 22.6 billion); Japan (reached USD 7.8 billion).

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

Source: Vietnam Customs