June 23, 2018 21:20

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Preliminary assessment of Vietnam international merchandise trade performance in the first half of May, 2018

19:42 | 12/06/2018

The Vietnam Customs Statistics announced that in the first half (01-15/5/2018) of May-2018, Vietnam’s total exports of US dollars 8.78 billion and imports of US dollars 10.15 billion resulted in a trade deficit of nearly US dollars 1.37 billion. Accordingly, the total value of export and import turnover of Vietnam in the first half of May was US dollars 18.93 billion, went up by 3.7% as compared to the second half of April-2018.

Vietnam‘s trade-in-goods from January to the first half of May of 2018 totaled US dollars 162.74 billion in value terms. It posted a growth of 14.4% (equivalent to USD 20.54 billion) from the same period of previous year.

In which, the total merchandise exports value was up 18.7% to nearly US dollars 82.63 billion and the total merchandise imports value was up 10.4%, to US dollars 80.11 billion.

In the view of FDI traders, the total value of exportation and importation in the first half of May reached USD 11.75 billion, up by 2% (equivalent to USD 227 million) in comparison to the second half of April, 2018. Up to the May, 15th 2018, the total merchandise trade value of FDI traders was USD 105.64 billion, 13.2% higher than the performance of the same period of 2017.

Export:

When compared with the second half of April-2018, export of first half of May decreased by 7.9%, mostly as a result of the decline registered in textiles and garments (down by 10.5% - USD 114 million equally); other means of transportation (down by 30.3% - USD 109 million equally); irons and steels (down by 39.5% - USD 94 millionequally); machine, equipment, tools and instruments (down by 12.4% - USD 88 million).

preliminary assessment of vietnam international merchandise trade performance in the first half of may 2018

Import:

In the first half of May 2018, import increase by 16.3% when compared with second half of April, mainly reflecting the widen of machine, electrical products, spare-parts and components thereof (up by 30.86% - USD 368 million equally); plastics (up by 35.2% - USD 101 million equally); irons and steels (up by 21.1% - USD 125.91 million equally); petroleum products (down by 21.76% - USD 92.41 million equally)…

However, the downturn occurred in import of some commodities such as: coal (down by 34.9% - USD 66 million equally); telephones. Mobile phones and part thereof (down by 4.7% - USD 21 million equally)…

preliminary assessment of vietnam international merchandise trade performance in the first half of may 2018

Source: Vietnam Customs