November 24, 2017 14:31

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Preliminary assessment of Vietnam international merchandise trade performance in the second half of February, 2017

16:19 | 22/03/2017

VCN- The Vietnam Customs Statistics announced that in the second half of February, 2017 the total Vietnam’s exports of US dollars 7,21 billion and imports of nearly US dollars 6.83 billion resulted in a trade surplus of US dollars 386 million. 

Accordingly, the total value of export and import turnover of Vietnam in the second half of February was over US dollars 14,04 billion, down by 1.3% as compared to the first half of February-2017. Furthermore, in the first 2 months of 2017, Vietnam was in trade deficit of USD 803 million.

Vietnam‘s trade-in-goods in the first 2 months of 2017 totaled US dollars 55,66 billion in value terms, climbed up by 19.5% as compared to the performance of the same period of last year. In which, the total merchandise exports valued US dollars 27.43 billion, moved up by 15.8% and the total merchandise imports valued to US dollars 28.23 billion went up by 23.3%.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the second half of February reached USD 9.1 billion, down by 2.1% in comparison to the first half of February 2017. Therefore, in the first 2 months of 2017, the total value of FDI merchandise trade went up 18.5%, to US dollar 35.98 billion.

Export:

As compared to the first half of February-2017, second half of the month increase in the total export value (22.5% - USD 1.33 billion equally) is reflected by upturn in textiles and garments (up by 54.4% – USD 297 million equally); wood and wooden products (up by 71.5% - USD 120 million); foot-wear (up by 24.1% - USD 93 million); irons and steels (up by 124.1% - USD 87 million)…

In the opposite way, decrease occurred in some commodities such as: petroleum products (down by 49.7% - USD 30 million); rubber (down by 17.3% - USD 18 million); rice (down by 19.2% - USD 18 million), still image, video cameras and sparts thereof (down by 11% - USD 15 million).​

preliminary assessment of vietnam international merchandise trade performance in the second half of february 2017

Totally, from January to second half of February-2017, total export value from Vietnam was USD 27.43 billion, climbed up 15.8% as compared to the same period of 2016 (equivalent to USD 3.74 billion in absolute value terms).

Import:

The first half to second half of February shrunk in the total of import value (18.1%) reflected downturn in computer, electrical products , spare-parts and components thereof (down by 21% - USD 292 million equally); machine, equipment tools and instruments (down by 14.7% - USD 199 million); fabrics (down by 27.4% - USD 110 million); telephone, mobile phone and parts there of (down by 16.4% - USD 85 million)…

However, an increase occurred in importation of some commodities such as: fertilizers (up by 34.8% - USD 17 million); petroleum products (up by 6.1% - USD 13 million); ores and other mineral products (up by 73.6% - USD 8 million)…

preliminary assessment of vietnam international merchandise trade performance in the second half of february 2017

From January to second half of February-2017, total import value into Vietnam was USD 28.23 billion, went up by 23.3% as compared to the same period of 2016 (equivalent to USD 5.34 billion in absolute value terms).

Source: Vietnam Customs