November 24, 2017 14:31

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

07:48 | 20/04/2017

VCN- The Vietnam Customs Statistics announced that in the first half (01-15/3/2017) of March-2017 , Vietnam’s total exports of US dollars 7.81 billion and imports of US dollars 8.79 billion resulted in a trade deficit of nearly US dollars 982 million.

Accordingly, the total value of export and import turnover of Vietnam in the first half of March was US dollars 16.6 billion, went up by 18.3% as compared to the second half of February-2017.

Vietnam‘s trade-in-goods from January to the first half of March of 2017 totaled US dollars 72.26 billion in value terms. It posted a growth of 19.7% (equivalent to USD 11.87 billion) from the same period of previous year. In which, the total merchandise exports value was up 14.7% to nearly US dollars 35.22 billion and the total merchandise imports value was up 24.8%, to US dollars 37.03 billion.

In the view of FDI traders, the value of exportation and importation in the first half of March reached USD 10.68 billion, up by 17.3% as compared to the second half of 2017. Therefore, from January to March 15th of 2017, the total value of FDI merchandise trade went up 18% to US dollar 46.64 billion.

Export:

When compared with the second half of February-2017, export of first half of March increased by 8.3%, mostly as a result of the climb-up registered in computer electrical products and part thereofs (up by 19.1% - USD 167 million); textiles and garments (up by 19% - USD 160 million); telephone, mobile phone and part thereof (up by 9.2% - USD 110 million); rice (up by 64.6% - USD 49 million)…

However, the following commodities declined in export value: irons and steels (down by 48.5% -USD 76 million); crude oil (down by 43.3% - USD 54 million); rubber (down by 20.7% - USD 18 million); iron and steel products (down by 11.5% - USD 10.7 million)…

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Import:

In the first half of March 2016, import increased by 28.8% when compared with the second half of February, mainly reflecting the evolution of machine, equipment, tools and instruments (up by 33.8% - USD 391 million); computer, electrical products, spare-parts and components thereof (up by 22.7% - USD 249 million); fabrics (up by 49.3% - USD 144 million); petroleum products (up by 55.5% - USD 124 million); telephones, mobile phones and part thereofs (up by 24.7% - USD 107 million)…

A decrease occurred in imports of corn (fell by 69.2% - USD 44 million), animal fodders and animal fodder materials (fell by 13.2% - USD 23 million); other base metal products (fell by 19.8% - USD 8.5 million)…

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Source: Vietnam Customs