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Preliminary assessment of Vietnam international merchandise trade performance in the first half of October, 2016

15:04 | 23/12/2016

VCN- The Vietnam Customs Statistics announced that in the first half (01-15/10/2016) of  October-2016, Vietnam’s total exports of  US dollars 7.26 billion and imports  of  US dollars 7.78 billion resulted in a trade deficit of US dollars 520 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of October was US dollars 15.03  billion, drop by 5.1% (equal to USD 808 million) as compared to the second half of September-2016.

Vietnam‘s trade-in-goods from January to the first half of October of 2016 totaled US dollars 268.39 billion in value terms. It posted a growth of 4.4% (equivalent to USD 11.36 billion) from the same period of previous year. In which, the total merchandise export value was up 7.1% to US dollars 135.78 billion and the total merchandise imports value was up 1.8%, to US dollars 132.6 billion.In the view of Foreign Direct Invested (FDI) traders, the value of exportation and importation in the first half of October reached USD 5.16 billion and USD 4.57 billion respectively. From January to October 15th of 2016, the total export value of FDI traders went up 10% to US dollar 95.06 billion, which accounted for 70% of Vietnam’s total exports. In the meanwhile, import value was posted at USD 78.38 billion, up by 1.3% and accounted for 59.1%.

Export:

When compared with the second half of September-2016, export of first half of October decreased by 14.6%, mostly as a result of the decline registered in following products: rice (down by USD 47 million);wood and wooden products (down by USD 49 million); foot wear (down by USD 53 million); iron and steel (down by USD 73 million); telephone, mobile phone and part thereof (down by USD 263 million)…However, the following commodities slightly climbed up in export value: cable and wireless cable (up by USD 27 million); fertilizer (up by USD 7 million).

preliminary assessment of vietnam international merchandise trade performance in the first half of october 2016

Import:

In the first half of October 2016, import increased by 5.9% when compared with second half of September, mainly reflecting the widen of other means of transportattion (up by USD 159 million); computer electrical products spare parts and component thereof (up by USD 118 million); corn (up by USD 60 million); other base metal (up by USD 48 million); fabrics (up by USD 44 million); petroleum products (up by USD 33 million)…

Decrease occurred in imports of telephone, mobile phone and part thereof (down by USD 57 million); machine, equipment, tools and instruments (down by USD 36 million.​

preliminary assessment of vietnam international merchandise trade performance in the first half of october 2016

Source: Vietnam Customs