Preliminary assessment of Vietnam international merchandise trade performance in the first half of June, 2016
14:45 | 05/09/2016
The Vietnam Customs Statistics announced that in the first half (01-15/6/2016) of June-2016, Vietnam’s total exports of US dollars 7.05 billion and imports of US dollars 7.33 billion resulted in a trade deficit of US dollars 285 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of June was US dollars 14.38 billion, went down by 11.7% (equal to USD 1.91 billion) as compared to the second half of May-2016.
Vietnam‘s trade-in-goods from January to the first half of June of 2016 totaled US dollars 147.54 billion in value terms. It posted an increase of 2% (equivalent to USD 2.84 billion) from the same period of previous year. In which, the total merchandise export value was up 5.8% to US dollars 74.45 billion and the total merchandise imports value was down 1.7%, to US dollars 73.09 billion.
In the view of Foreign Direct Invested (FDI) traders, the value of exportation and importation in the first half of June reached USD 4.93 billion and USD 4.16 billion respectively. In comparison to the performance of corresponding period of 2015, from January to June 15th of 2016, the total export value of FDI traders went up 9.0% to US dollar 52.04 billion. In the meanwhile, import value was posted at USD 42.94 billion, down by 2.8%.
When compared with the second half of May-2016, export of first half of June went down by 15.2%, mostly as a result of the downturns registered in following products: telephones, mobile phones and parts thereof (down by USD 285 million); other means of transportation, parts and accessories thereof (down by USD 103 million); machine, equipment, tools and instrument (down by USD 81 million);..
In the first half of June 2016, import shrunk by 8.1% in comparison to second half of May, mainly reflecting the downwards of petroleum products (down by USD 110 million); machine, equipment, tools and instrument (down by USD 109 million); computers, electrical products, spare-parts and component thereof (down by USD 76 million);...
Vietnam and the Philippines have great potential for promoting stronger trade and investment, according to participants at a seminar on trade exchange, co-hosted by Vietnam’s Ministry of Industry and Trade and the Department of Trade and Industry of the Philippines in HCM City on June 20.