September 22, 2017 22:26

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Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2017

16:47 | 25/05/2017

1. According to trade statistics of Vietnam Customs, in March 2017, a 26.0% increase in total external merchandise turnover of Vietnam was recorded on month-on-month basis. In which, exports went up 31.6 %, to USD 17.25 billion and imports expanded 21.1%, to USD 18.35 billion. As a result, there was a USD 1.10 billion deficit in Vietnam’s trade balance in this month.

2. From the beginning to March of 2017, Vietnam‘s trade-in-goods totaled US dollars 91.21 billion in value terms, 19.9% above the corresponding period of 2016. As compared to result of the first quarter of last year, total merchandise exports value rose 15.1%, to US dollars 44.64 billion and the total merchandise imports value went up 24.9% to US dollars 46.55 billion. Accordingly, Vietnam’s trade balance in the first quarter of 2017 was in the deficit of US dollars 1.94 billion.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 59.12 billion in total from beginning to March 2017, up by 18.8 % as compared to the result of corresponding period of 2016. Total value of FDI exportation was USD 31.32 billion, went up by 18.8%. On import side, the total value of those companies was USD 27.80 billion, went up by 23.6%.​

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

Main Exports and Imports

4. On month-on-month basis, an expansion in total merchandise exports was due to the upturns in telephones, mobile phones and parts thereof (up by USD 731 million); textiles and garments (up by USD 716 million); computers, electrical products, spare-parts and components thereof (up by USD 472 million).

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

5. On a year-on-year basis, exports expanded USD 2.16 billion. The main products, which contributed to the increase, were computers, electrical products, spare-parts and components thereof (up by USD 765 million); machine, equipments, tools and instruments (up by USD 303 million); textiles and garments (up by USD 256 million)…

6. On month-on-month basis, increase in total merchandise imports was due to the upwards of the commodities as follows: machine, equipments, tools and instruments (up by USD 747 million); computers, electrical products, spare-parts and components thereof (up by USD 500 million); petroleum products (up by USD 303 million)…

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

7. On a year-on-year basis, imports went up USD 3.92 billion. The growth in imports was mainly contributed by the upturns of the following products: machine, equipments, tools and instruments (up by USD 1.0 billion); computers, electrical products, spare-parts and components thereof (up by USD 529 million); telephones, mobile phones and parts thereof (up by USD 260 million)…

Trading Partners

8. In the first quarter of 2017, Vietnamese merchandise trade with trading partners in Asia was totaled USD 61.29 billion in value terms, which moved up 24.1% as compared to the same period of 2016. Trade-in-goods of Vietnam with America was followed, which reached USD 14.58 billion and increased by 9.4%. The values of other continents were Europe: USD 12.48 billion, up by 12.2%; Oceania: USD 1.61 billion, up by 16.4% and Africa: USD 1.25 billion, up by 22.6% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

9. For January-March period of 2017, 4 importing markets of Vietnam with turnover of over USD 3 billion were: The United States of America (reached USD 8.7 billion); China (reached USD 6.2 billion); Japan (reached USD 3.8 billion) and Republic of Korea (reached USD 3.2 billion).

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

10. On import side, there were three partners exporting goods to Vietnam with turnover of over 3 billion. They were as follows: China (reached USD 12.7 billion); Republic of Korea (reached USD 10.0 billion); Japan (reached USD 3.7 billion).

preliminary assessment of vietnam international merchandise trade performance in the first quarter of 2017 3591

Source: Vietnam Customs