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Imports and exports decrease sharply in January

19:39 | 18/02/2020

VCN- In the first month of 2020, export and import turnover has decreased by double digits compared to the same period in 2019, according to preliminary statistics of the General Department of Customs announced onthe afternoon of February 12.

tin nhap 20200218163517 Customs statistics on imports and exports between Vietnam with EVFTA member states
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Import-export structure in January 2019 and 2020, unit "billion USD". Chart: T. Binh.

Specifically, regardingexports inJanuary, turnover reached US$18,323 billion, down 17.4% over the same period in 2019.

Notably, export turnover of many agricultural products has dropped by tens of percent compared to the same period last year.

For example, seafood decreased by 33.2%; vegetables and fruits decreased by 20.6%; cashew nuts dropped35.4%; and coffee fell 29.9%.

By the end of January, five export commodity groups achieved turnover of over US$1 billion, but there were four groups with negative growth.

Specifically, phones and components reached nearly US$2.7 billion, down 18%; textile and garment reached US$2.47 billion, decreasing 25%; machinery, equipment, tools and spare parts reached US$1.485 billion, down 4.2%; footwear reached US$1.4 billion, down 20.9%.

Computers, electronic products and components are the only "billion dollar" commodity groups with positive growth with a turnover of nearly US$2.7 billion, up 8.2%.

Regardingimports, turnover in the first month of 2020 reached nearly US$18.6 billion, also down13.7% over the same period in2019.

Ofwhich, there are three commodity groups with a turnover of US$1 billion or more.

Computers, electronic products and components are the leading group in turnover with a result of more than US$4.23 billion, up 6.1%.

The remaining two groups of "billion-dollar" import goods also suffered a decline in value.Machinery, equipment, tools and spare parts reached more thanUS$2.8 billion, down 17.8%; mobile phones and accessories reached nearlyUS$1.14 billion, down 1.8%.

By the end of January, thecountry's trade balance had a trade deficit of nearly US$280 million.

By Thai Binh/ Phuong Thao