July 23, 2017 09:44

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

08:18 | 06/05/2017

VCN- The Vietnam Customs Statistics announced that in the second half of March, 2017 the total Vietnam’s exports of US dollars 9.44 billion and imports of nearly US dollars 9.58 billion resulted in a trade deficit of US dollars 137 million. 

Accordingly, the total value of export and import turnover of Vietnam in the second half of March was US dollars 19.02 billion, up by 14.5% as compared to the first half of March-2017 (equivalent to USD 2.41 billion). Furthermore, in the first 3 months of 2017, Vietnam was in trade deficit of over USD 1.94 billion.

Vietnam‘s trade-in-goods in the first 3 months of 2017 totaled US dollars 91.21 billion in value terms, expanded by 19.9% as compared to the performance of the same period of last year. In which, the total merchandise exports valued US dollars 44.64 billion, moved up by 15.1% and the total merchandise imports valued to US dollars 46.57 billion went up by 24.9%.

In the view of Foreign Direct Invested (FDI) traders, the value of exportation and importation in the second half of March reached USD 6.67 billion and USD 5.82 billion respectively. Therefore, in the first 3 months of 2017, the total value of FDI merchandise trade went up 18.8%, to US dollar 59.12 billion.

Export:

As compared to the first half of March-2017, second half of the month strong increase in the total export value (20.8% - USD 1.63 billion equally) is reflected by upturn in telephone, mobile phone and parts thereof (up by 37.2% - USD 485 million); machine, equipment tools and instruments (up by 24.2% - USD 122 million); computers electrical products and component thereof (up by 10.2% - USD 107 million); textile and garment (up by 10.3% - USD 103 million)…

It was also showed by Vietnam Customs Statistics that export value of some commodities shrunk in the second half of March, which included: manioc and manioc products (down by 15.4% - USD 11 million); ores and other mineral products (down by 58.6% - USD 5 million)…​

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

Import:

The first half to second half of March increase in the total of import value (8.9%) reflected upturn in computer electrical products and part thereof (up by 21.9% - USD 295 million); machine, equipment tools and instruments (up by 11.1% - USD 172 million); fabrics (up by 29.1% - USD 127 million); telephone, mobile phone and parts thereof (up by 11% - USD 60 million); coal (up by 54.4% - USD 46 million); …

A decrease occurred in importation of some commodities such as: petroleum products (down by 9.3% -USD 32 million); iron and steel (down by 6.7% - USD 30 million); parts and accessories of motor vehicles (down by 13.4% - USD 23 million).

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

Source: Vietnam Customs