November 20, 2017 23:00

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

16:37 | 12/06/2017

VCN- The Vietnam Customs Statistics announced that in the first half (01-15/5/2017) of May-2017, Vietnam’s total exports of US dollars 7.62 billion and imports of US dollars 8.72 billion resulted in a trade deficit of nearly US dollars 1.1 billion. 

Accordingly, the total value of export and import turnover of Vietnam in the first half of May was US dollars 16.34 billion, went down by 11.9% as compared to the second half of April-2017.

Vietnam‘s trade-in-goods from January to the first half of May of 2017 totaled US dollars 142.41 billion in value terms. It posted a growth of 21.3% (equivalent to USD 24.97 billion) from the same period of previous year.

In which, the total merchandise exports value was up 17.6% to nearly US dollars 69.7 billion and the total merchandise imports value was up 25%, to US dollars 72.71 billion. In the view of FDI traders, the total value of exportation and importation in the first half of May reached USD 10.75 billion, down by 14.8% (equivalent to USD 1.86 billion) in comparison to the second half of April, 2017. Up to the May, 15th 2017, the total merchandise trade value of FDI traders was USD 93.39 billion, 23.1% higher than the performance of the same period of 2016.

Export:

When compared with the second half of April-2017, export of the first half of May decreased by 20.7%, mostly as a result of the decline registered in telephone, mobile phones and parts thereof (down by 30.7% - USD 780 million); textiles and garments (down by 20% - USD 199 million);computer, electrical products, spare-parts and component thereof (down by 13.1% - USD 132 million); machine, equipment, tools and instruments (down by 19.1% - USD 111 million). However, the upturn occurred in exports of some commodities such as: Coal (up by USD 20 million); fruits and vegetables (up by 4.1% - USD 7 million).​

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Import:

In the first half of May 2017, import decreased by 2.5% when compared with the second half of April, mainly reflecting the shrunken of machine, electrical products, spare-parts and components thereof (down by 12.6% - USD 237 million); computer, electrical products, spare-parts and components thereof (down by 9.7% - USD 146 million); telephone, mobile phone and part thereof (down by 19.8% - USD 116 million); petroleum products (down by 29.6% - USD 96 million)…

However, the upturn occurred in import of some commodities such as: fabrics (up by 12.6% - USD 62 million); animal fodders and animal fodder materials (up by 40.3% - USD 49 million); plastics (up by 16.1% - USD 44 million); other means of transportation (up by 1.6 times – USD 40 million)…

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Source: Vietnam Customs